The global economic slowdown and the recession from the last couple of years have made a serious dent into many businesses and their economic stability.
Employees have been taking pay cuts and many have been shown the door, but when it comes to the beauty industry, the recession has in fact created an upswing in business and sales.
Social psychologists from the Texas Christian University have inferred from their study and statistics world over that women actually spend more during weak economic times on beauty products and apparel and this unique trend is something that has been a common inclination even in the past.
Known among social psychologists and behavioral analysts as the ‘lipstick effect’, the periods of slow economic pace in human history have always seen an upswing in the sales of beauty products and this is a remarkable oddity that was observed ever since the great depression of 1929.
The demand for beauty products in tough times is on the up as women want to make themselves feel better and psychologists believe that the only way to do this is by making themselves more attractive to potential partners. A trend, which appeals to the basic instinctive side of humans and their desire to find a stable and strong mate (in economic terms here) during wobbly times.
Beauty product sales in 2011 were up in the UK by as much as 11 percent and that figure seems pretty much the same even on the other side of Atlantic.
China and Argentina have double their beauty product sales while a saturated market like France has also seen a 4 percent upswing. While women have kept their purse strings sealed when it comes to spending elsewhere, beauty has been one quality they were more than willing to buy from the stores and that indicates an excellent next few years for quality beauty product producing firms worldwide.