Economic Recession and consumer behavior surround the "lipstick effect"
In the times of recession the consumer behavior also changes and especially for women the change can be observed as women cut their luxury spending from buying expensive bags and clothes and using the saved up money on lipsticks etc. It further establishes the point that women might spend more on beauty products in times of recession due to the reason that there are fewer financially strong men in the society. All these points gather up to a common hypothesis which can be stated as “Economic Recession and consumer behavior surround the lipstick effect”.
Lipstick effect can be termed as a ...
