Does economic insecurity lead to higher makeup sales? \ stacker news ~culture

Does economic insecurity lead to higher makeup sales?www.mckinsey.com/industries/retail/our-insights/the-beauty-market-in-2023-a-special-state-of-fashion-report

2247 sats \ 10 comments \ @k00b 7 Apr culture

My wife shared the old wives tale of "makeup sales increase with economic insecurity" so I went looking for some data to confirm it. Sadly, there isn't anything unexpected in the data as far as I can tell. Beauty sales declined as a result of covid but they picked back up shortly after.

What prompted the discussion was news of Macy closing 150 stores and refocusing on luxury retail (and implicitly luxury cosmetics). Even as e-commerce picked up, it only ate up new demand. Mckinsey suspects department stores sales will grow and perhaps that's part of Macy's motivations as well.

Another thing my wife mentioned is all the e-commerce makeup white labelling going on. She implied every online micro-celebrity has a line of their own much like male celebrities and hard liquor.¹ Anyway, what do I know about makeup.

If any big bitcoin podcasters are reading this. Why haven't you done this yet? ↩

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153 sats \ 1 reply \ @StillStackinAfterAllTheseYears 7 Apr

I know as much about makeup as you (I'm pretty sure) but there's a theory known as the Lipstick Effect that definitely suggests this is correct.

42 sats \ 0 replies \ @k00b OP 7 Apr

Ah that must be where this comes from!

150 sats \ 0 replies \ @Undisciplined 7 Apr

Makeup is one of the most shoplifted things and stores all over the country are closing up shop because of rampant shoplifting. Not sure if those two facts are related to the Macy's closings, but that's where my mind immediately went.

110 sats \ 0 replies \ @gmd 7 Apr

I wonder how this correlates with the Stripper Index

100 sats \ 0 replies \ @grayruby 7 Apr

I think the Covid decline can be attributed to work from home and people socializing less.

I don’t know if it’s an old wives tale. I think there is validity to the notion that in time of economic stress people still want to treat themselves but instead of fancy vacations or nights out on the town they buy 7 dollar coffees at Starbucks and 30 dollar lipsticks.

100 sats \ 2 replies \ @k00b OP 7 Apr

If any big bitcoin podcasters are reading this. Why haven't you done this yet?

If I were @Marty I’d be selling TFTC vodka in a green glow in the dark bottle that comes a Trojan horse shaped box.

100 sats \ 1 reply \ @davidw 7 Apr

I can see Breedlove bringing out his own cologne too 😄

0 sats \ 0 replies \ @k00b OP 7 Apr

Peter could sell …

10 sats \ 0 replies \ @BitcoinIsTheFuture 7 Apr

Thanks for sharing, this is interesting. What would happen if people spend this time, money, and energy on exercise?

0 sats \ 0 replies \ @Coinsreporter 7 Apr

Yes, how do we know about make up? I mean who of the males do paste his face with pancakes?

But when we relate to other markets it's the same story with everything.

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