Even in a period of economic depression, the sales of lipsticks will not be affected but will rise against the trend. Why is this?
People think that lipstick is a relatively cheap consumer product. In the economic downturn, people still have a strong desire to buy. However, large consumption such as houses, cars, and traveling abroad are temporarily unaffordable, so people turn their attention to lower-priced products, such as lipsticks. The "lipstick effect" was born.
From the perspective of microeconomics, it is because the substitution effect is greater than the income effect. In an economic depression, people's income will decrease, and under normal circumstances, people's consumption will also decrease accordingly. This is the income effect. However, when people give up large amounts of consumption, there will be idle money used to buy substitutes for those expensive commodities, which is a substitution effect. This substitution effect is greater than the income effect, so the "lipstick effect" is produced.
Lipstick can be said to be the beauty product with the lowest threshold. It is not only affordable but also easy to use.
First of all, the price of lipstick ranges from tens of yuan to two to three hundred yuan, and most girls can afford it. Such a single product that can be bought within an acceptable range and can be bought with a small amount of savings can easily become the target of consumers' frequent consumption.
Secondly, lipsticks are easier to use than complex eye makeup, trimming and other makeup. Put on colorful lip makeup, even if you don't wear heavy makeup, it will be delicate.
Ningbo Jinyi Daily Chemical Package Co., Ltd. is a make up package wholesaler, dedicated to producing a large number of high-quality lipstick cases. For more relevant information, please feel free to contact us and continue to follow us.