Not too long ago, we attended a Nordstrom beauty panel in which butter LONDON Founding Creative Director Nonie Creme suggested that there's such an emphasis on nail lacquer during times of economic downturn because it's an easy (and affordable) way to express oneself while tapping into the latest trends.
Apparently she was on to something, because a recent study conducted by economists at NPR's "Planet Money" regarding middle class (or the 50-percent) shopping-based indicators of where the economy is heading has confirmed just that:
"The results were mixed, but we did uncover some ominous signs. Lipstick sales used to go up when the economy went down, perhaps because women were searching for a cheap pick-me-up or an edge in a job interview. For reasons nobody quite understands, the lipstick indicator doesn’t hold up anymore, though nail-polish sales now seem to reflect the economy very clearly (albeit inversely). A rise in nail-polish sales indicates that we’re searching for bargain luxuries as the economy craters — and sales of nail polish are way up right now. Women’s underwear sales are down, which historically suggests intense frugality and more rough times ahead." (read full article)
Which little beauty luxury are you more likely to splurge on when times are tough? Weigh in below!