‘Lipstick effect’ replaced by looking good for less, according to Mintel

It is commonly thought that in the face of an economic crisis, sales of lipsticks go up. However, new research from Mintel shows that this is in fact not the case and that women are choosing other basic cosmetic products over lipstick as they start to view the items as a necessity rather than a luxury.

Mintel conducted research in France, USA and the UK to monitor how consumers were reacting to beauty purchasing in the face of the financial concerns and found that a very small number of people were actually purchasing lipsticks. Just 3% of women said that they purchased a lipstick to make themselves feel better, indeed lipstick came top of a list in of cosmetic products that women would actually spend less on or stop using altogether.

Nica Lewis, head consultant for Mintel Beauty Innovation said of the trend, “In this recession, Austerity Chic – or looking good for less – is replacing the Lipstick Effect. Beauty is now marketed as a necessity rather than a luxury and women are being creative with their spending to keep up appearances. This means women are investing in moisturisers, body lotion and hair care, rather than lipstick.”

What the research did highlight is that the beauty industry as a whole is weathering the storm admirably, with six out of ten women surveyed reporting no change in their beauty buying habits. Moreover certain products are faring better than others with 60% of women in each country spending the same or more on their foundation and women in all three countries likely to spend the same or more on essential items such as shampoo and cleansers.