Cosmetic Markets Are Up!

Filed Under: Beauty Buzz Business Blitz

It seems as though the Lipstick Factor has come back in full force!

For those of you who need a brief refresher on the recessionary trend, history has it that during times of economic strife, lipstick sales increase. Economists chalk the phenomenon up to the fact that consumers want the retail rush of a fun new product to make them look and feel good, but don't want to shell out for shoes or a clothes, which tend to be costlier than cosmetics.

The great recession seems to be no exception: a recent study shows that the cosmetics market has grown with a 7.4% rise in revenue. That's considerable! Additionally, face and body skincare went up 6.7% and perfume was up 4.6%.

What's more, some sources believe that during tougher times, women like a bright lipstick to make them feel cheerful and confident. There's no denying that colorful lipstick is very on-trend right now.

What do you think? Are you buying more cosmetics in lieu of bigger splurges?

[Image via AP Images.]

Posted: November 10, 2009 at 12:00 pm