Ladies, are you spending more on beauty products during this recession?
A new study seems to think so, according to researchers at Texas Christian University, the University of Minnesota, the University of Texas at San Antonio and Arizona State University.
The study called “Boosting Beauty in an Economic Decline: Mating, Spending, and the Lipstick Effect,” hypothesizes the following:
- The more insecure the economy, the more money is spent on beauty products.
- Since women earn 19% less than men on the average, it’s implied that women may feel they have to compensate by wearing more makeup and nicer clothes in order to boost their search for greater financial security
- During recessions over the past 20 years, women have reallocated their spending from other items to beauty products.
- Thinking about the recession made young, unmarried women want to buy beauty products, especially luxury beauty products.
- When the recession was on women’s minds, advertising for beauty products was more effective when it emphasized attracting men.
In conclusion, the study suggests that women buy more makeup to stay competitive in the job and the marriage market.
Click here to view the study