I saw a short article in last week’s Time “special money issue” that caught my eye because of its relevancy to my own business:
No. 7: The Lipstick Index
by Roya Wolverson
Makeup is a cheap thrill for penny-pinched shoppers. When the economy is weak, most consumers cut back on nonessentials and instead spend their money on the little luxuries–for example, lipstick. That’s exactly what happened during the 2001 recession, when lipstick sales soared even as the overall economy declined. These days, the so-called lipstick index (a term coined a decade ago by Estée Lauder chairman emeritus Leonard Lauder) seems to indicate more tough times to come. Lipstick sales are up 14% this year. And nail polish, which more recently has become a bellwether of economic turbulence, has risen an even more disturbing 54%. “Nail polish has become the heir to lipstick in this recession,” says Lauder. “I picked up this signal from my granddaughters. All of a sudden, there was all this nail enamel in crazy colors.”
That’s great news for the beauty industry; EstéeLauder just recorded its best North American sales in a decade. As for the rest of us, we may be headed into a double dip, but we’ll go there looking fabulous.
Avon Ultra Color Rich Lipstick $7.00
Although some of these consumers feel the need to spend $25 on a lipstick, I can argue that you can get the same (or better) quality at a much more affordable cost with Avon. Who says beauty should break the bank? I think this is a big opportunity to get beauty on a bargain!
Did you know that Avon Ultra Color Rich is America’s #1 bestselling lipstick? Did you know that a regular-priced lipstick from Avon costs $6 to $9? Based on the campaign, you can generally purchase your favorite shade for $2.99. Why bother paying an extra $22 for a department store brand lipstick that has been sitting in a glass cabinet well beyond its shelf life when you can get the personalized service for less than the price of a grande latte from the coffee shop?
And if you picked the wrong shade, does the department store give you a refund on a used lipstick? With Avon, 100% satisfaction is guaranteed or your money back.
As for nail polish, we’re trendsetters! (Actually most of Avon’s products are copied by other companies because they’re more innovative in the cosmetics industry, but I’ll save that for another post!) Love it or hate it, crackle polish is in! This style features a bright shade as a base coat and black crackle polish on top to create an edgy look.
Mosaic Effects Top Coat $6.00
Redheaded Avon Rep 