Cosmetics and scents are booming as covid-shifted trends gain pace

The Lipstick Index is back. The term was coined during the 2001 recession by Leonard Lauder, then the chairman of Estee Lauder. He noted that lipstick sales rose in the autumn of that year, indicating that women facing an uncertain economic environment turn to beauty products as an affordable treat. Then the financial crisis of 2008-09 spawned the Foundation Index, as women prioritized flawless skin over a perfect pout. This time around, get ready for the Perfume Index, or perhaps the Bouncy Blowout effect. Fragrance or hair care sales may be more reflective of a shift from extravagant purchases to cheaper indulgences in the post-pandemic era.

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