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What to Buy in a Recession? Lipstick
Over the last year, financial indexes have seen more exposure than ever before, as they are used to gauge the health of economies worldwide. There are various indexes you could use to monitor the crisis - currency exchange, debt, stock exchange, interest rates. There have also been a lot of less-than-scientific indices created which also purport to reflect the economy. For example, the alligator index - in tough times, there are more alligators around, as people are too poor to buy alligator shoes and handbags.
Another quirky index is the Lipstick index, this espouses that women will spend more on lipstick during tough economic times. This could perhaps be said of many types of reasonably-priced luxury items, as people try and spoil themselves in smaller ways during hard times.
Is the lipstick index up during this financial crisis? Well Loreal, owner of Lancome cosmetics, posted a 27.7% increase in sales growth during the last quarter of 2008, coinciding with the first quarter of the current economic crisis.
It's good news for the MAC AIDS fund, run by MAC cosmetics, a charity which is run almost completely on the profits made from the sales of just one line of MAC lipsticks, Viva Glam. Hopefully the myth of the lipstick index is true, and the charity is able to maintain its activity levels throughout the recession.
Other cosmetics companies are continuing to invest in new lines during these times. Chanel cosmetics have produced Aqualumiere lipsticks, which have moved with the times, incorporating the traditional lipstick attributes (colour, creamy texture, long-lasting), with healthy skin benefits. They now contain shea butter, Vitamen E and are SPF 15.
About the Author Lauren is a frequent writer of news and blog articles regarding fashion and beauty. Her favourite brands are Lancome and Clinique.
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