This month, Donald Trump was elected the next US President and the Aussie dollar took a nosedive. In moments of such uncertainty, The Lipstick Effect is more relevant than ever.
This is the theory that, in a financial crisis, people avoid large investment purchases but treat themselves with little pieces of affordable luxury instead.
During The Great Depression of 1929-39, sales of upmarket cosmetics soared and economists noted similar consumer patterns during the Global Financial Crisis of 2008.
“Spending money on yourself feels good, but in tough times you probably can’t afford a new car or a home renovation. However, you can almost always find the money for a makeup item,” explains Matt Williams, CEO of Professional Beauty Solutions (Australian distributors of Youngblood cosmetics).
“A small purchase of your favourite foundation and/or a new lipstick can make you feel good despite everything else.
“This makes our industry somewhat recession-proof. During the last two recessions, many of our partner spas, salons and clinics continued to grow.
“So, drive retail sales harder than ever harder than ever no matter what people are saying about the economy.”
With The Lipstick Theory in mind, we share the lip trends from red carpet looks at The American Music Awards, held last Sunday.
THE NEW NUDE
Singer Selena Gomez sported a fresh take on the ubiquitous nude lip look at the AMAs. The look typically calls for a matte, skin-toned lip-stain. But Selena’s smile is less beige and more pinkish taupe. The colour emulates lips rather than skin. We also love the creamy, rather than matte, finish.
Actress-singer Hailee Steinfeld, 19, rocked deftly-applied purple lipstick on Sunday. The rich hue contrasted with her green dress, making her eyes pop. Despite its boldness, the colour complements most complexions: Darker skinned singer Taraji smouldered in the same shade, while television presenter Cheryl Burke (with Filipino heritage) chose magenta and looked amazing too.
Shimmery, metallic lips and lids are making a comeback. Victoria’s Secret model Behati Prinsloo donned coppery bronze lipstick at the AMAs, while pearlescent silver shadow highlighted the inner corners of her eyes. The end look is multi-dimensional and ultra-modern.