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Title: The Lipstick Effect: How Consumers Turn to Beauty Products in Tough Times

As the global economy continues to face challenges, a familiar trend has resurfaced: the Lipstick Effect. This phenomenon, where consumers turn to beauty products during economic downturns, has been observed for over two decades and has been marked as a sign of resilience in the face of adversity.

The Lipstick Effect gained significant attention in 2008, following the banking crash and global recession, with numerous articles appearing in publications such as The New York Times. The theory was recently tested again in 2022, with market research firm Kantar Worldpanel finding that UK sales of lipstick were nearly 10% higher year-on-year in the 12 weeks leading up to September 18th.

Professor Zubin Sethna, of Regent's University London, has conducted extensive research on the Lipstick Effect and its underlying factors.