For The Ladies: Makeup Sales Soar During Recession; How to Get a Bargain
The average British woman spends over £130 every year on cosmetics. That works out at around £8500 on cosmetics over their lifetime, according to an older poll by Debenhams. This figure excludes cosmetic treatments such as botox and fillers, which have interestingly remained recession proof, along with basic cosmetic items.
In fact, the recent recession is seeing an increase in the sales of 'affordable' cosmetic products, such as foundation and lipsticks. This however is no new phenomenon. 'The Lipstick Effect', was a term coined during the Great Depression, which saw cosmetic sales rose from 1929 to 1933 by 25%, despite a flat economy. The theory behind why the cosmetic market remains somewhat recession-proof is that glum consumers prefer to spend money on small luxuries during times of economic or emotional turmoil. Even after 9/11 in the US, lipstick sales were recorded to have doubled.
So are we looking at history repeating itself with The Lipstick Effect of 2009? Surely, the Ferrarris and designer dresses remain in show rooms and shop racks, so why aren't women feeling the pinch when it comes to looking '10 Years Younger'?
Beauty and youth has been linked to success for decades. As shown in a study by Nicolas Geugen (2008), women wearing make-up were quicker to attract a man, and attracting more men probably provide an economic advantage (unless they are a banker).
But does this still justify for the money spent which perhaps should have been saved for the rainy day? Here are some tips from bargain hunting girlies suggesting how to find good make-up for cheaper in tough times:
- Shift to the lower end of the market—good quality products can be found at mass consumption retail outlets at quite cheap prices. Make-up is not only the preserve of the rich.
- Watch for sales and BOGOF deals— many stores offer packages such as free gifts which can come to at least £30. For example, buying a perfume can earn you enough free mascara, lipstick or moisturizer to last months.
- Check out various websites like HUKD for discounts and freebies. For example, you can get a free Nivea cream sample tin, or Gloves Off Nail Varnish for £2 or £3 off Selected Maybelline Cosmetics
As a side note, for the female BW readers, do you feel that you really get 'what you pay for' when it comes to spending money on anti-aging skin creams, botox, and cosmetic products? How do you justify and rationalise the money spent, especially in current times?
(thanks to olavs, pablo25, and 360 parker for deals above)