According to market research company IRI, sales of eye, face and lip makeup has gone up across stores.
NEW YORK — Like many Americans, Karla Maldonado has been cutting back her spending to spare her wallet from rising costs: She is eating out less and attending fewer social events to curb the impact of high gas prices.
Americans, once stuck behind Zoom screens in the thick of the pandemic, are out and about and wanting to look their best. Co-workers — some of whom are meeting each other for the first time — are trying to make an impression. Meanwhile, people are going out on dates and getting together for summer parties and barbeques after months of pandemic-induced leisurewear and Netflix binges at home.
The lipstick theory has held, though not always. Makeup sales spiked during the Great Depression and the recession in the early 2000s. But sales declined during the 2008 economic collapse, according to market research firm NPD Group.
Meanwhile, Kohl’s reported that shoppers were making fewer trips, spending less per transaction and shifting toward value-oriented store brands. But at its Sephora beauty shops, launched last year as part of a partnership with the beauty chain, shoppers are spending freely on skincare, makeup and fragrance.
“While we’re all feeling these inflationary pressures, it has less of an impact on a consumer earning six figures than it does on a lower income consumer,” Jensen said.
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Americans Splurge on Beauty, Despite Pullbacks ElsewhereAmericans are splurging on beauty as they tighten their budgets elsewhere. According to market research company IRI, sales of eye, face and lip makeup has gone up across stores.
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Americans Splurge on Beauty, Despite Pullbacks ElsewhereAmericans are splurging on beauty as they tighten their budgets elsewhere. According to market research company IRI, sales of eye, face and lip makeup has gone up across stores.
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Americans splurge on beauty, despite pullbacks elsewhereNEW YORK (AP) — Like many Americans, Karla Maldonado has been cutting back her spending to spare her wallet from rising costs: She is eating out less and attending fewer social events to curb…
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