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Rising Lipstick Sales Confirms ‘Lipstick Effect’ Is Beauty’s Leading Economic Indicator

In beauty circles, the Lipstick Effect, also called the Lipstick Index, is claimed to be the category’s leading economic indicator. The concept is that in times of a recession and other economic stresses, women will indulge in discretionary purchases that provide an emotional uplift without breaking the budget. Lipstick fits the bill.While the lipstick effect […]

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Conspicuous Consumption Is Back as Higher Luxury Prices Drives Demand

The personal luxury goods market has come through the most disruptive year in recent history and emerged on the other side stronger than ever.After reaching a global high of $307 billion in 2019, industry sales dropped a whopping 22% in 2020 only to recover and even top it in 2021, reaching $309 billion, according to […]

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‘Mall Whisperer’ Rick Caruso On What It Takes to Be Successful in Retail – Any Retail

As the world begins to open up from the pandemic shutdowns, malls across the country are feeling the love. In March, mall visits jumped 44 percent ahead of February, according to Placer.ai, based upon visit data tracked across 50+ malls in the U.S. in both urban and suburban centers.While April visits held just about level […]

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Instead of Talking about ‘Post-Aspirational’ Consumers, Talk of ‘Transcendent’ Luxury

The phrase “post-aspirational consumers” is catching on in marketing circles, implying that consumers have evolved beyond aspiration as a motivator for purchase. Bain, one of the leading lights in the luxury market, gave the term its official imprimatur describing the “rise of a post-aspirational mindset.”For years the term “aspirational consumer” has been used in the […]

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In a Post-Covid World, Every Retailer Must Find Its ‘Essential’

As in Dicken’s Tale of Two Cities, when we write the story of retail in 2020 it is going to be the best of times for one group of retailers – those deemed essential – and the worst of times for others – non-essential retailers.Two new studies, one from IBM projecting retail through year-end and […]

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