With all the economic chaos I’ve started hearing about the lipstick effect again. The theory with this is that as people watch the family budget more closely they are less likely to purchase big ticket goods. Instead, they indulge in small luxuries like lipstick.
Or, I’ve noticed, earrings.
I don’t sell lipstick but I make beads and at shows, I have both beads and earrings. I also carry much more elaborate pieces of jewelry and much larger, more expensive pieces of clay work. The last show, the overall sales were not down much (hurrah!) but I did notice that people bought more of the smaller pieces. Like earrings.
So I have to wonder if this is the lipstick factor coming into play in my little world?