The lipstick index coined by Leonard Lauder, Chairman of Estée Lauder, during the 2001 recession as an economic indicator highlighted the increase in Lipstick sales in the early 2000’s recession; as women would purchase lipsticks as an affordable luxury instead of expensive apparel items.
The personal care industry has taken a beating of the COVID pandemic much like every other industry, however, the resilient revival of the economies has led to a sharp uptick in the personal care industry. We can understand this phenomenon by linking the economic resilience and the consumption of personal care products through the lipstick index or the lipstick paradox; a contentious theory unraveling this phenomenon.
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