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☆ Is a recession coming? Economists say look at women’s lips
▼ + stars: | 2024-06-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Estee Lauder chairman Leonard Lauder created the lipstick index during the economic downturn following September 11, 2001. In fall 2001, US lipstick sales increased by 11%. “The lipstick index has been substituted with the moisturizing index,” said Freda. But data shows that more expensive prestige beauty sales are outpacing mass, lower-priced beauty sales. What do you see dominating the beauty market in the second half of the year?

Persons: Estee Lauder, Leonard Lauder, Fabrizio Freda, ”, Freda, “, Sephora, Bell, Neela Montgomery, Laura Mercier, We’ve, it’s, Skincare, It’s, we’re, Inflection’s, OpenAI, Sarah Myers West, ” West, Brian Fung, Jerome Powell, Price Organizations: CNN Business, Bell, New York CNN, CNN, Federal Trade Commission, Microsoft, FTC, Justice Department, Google, Nvidia, DOJ, US Department of Treasury, OPEC Monthly, Federal Reserve, US Bureau of Labor Statistics, Signet Jewelers, Federal Locations: New York, Asia

☆ Shoppers get set for Amazon Prime Day and competitor sales events as ‘little treat’ lifestyle takes hold
▼ + stars: | 2023-07-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

In this article AMZN Follow your favorite stocks CREATE FREE ACCOUNTwatch nowPrime Day, competitor sales start soonAmazon's highly anticipated Prime Day starts at 3 a.m. Still, nearly 80% of adults said they intend to shop on Amazon Prime Day, a survey by The Vacationer found. What to buy on Prime DayThe best deals will be on Amazon's own devices, such as 75% off the Amazon Fire TV 43-inch Omni Series. How to take advantage of Prime Day dealsTo take advantage of Prime Day deals, you must be an Amazon Prime member. (CNBC's Select has more on how to avoid the membership fee in time to score Prime Day deals.)

Persons: Amazon's, Matt Kramer, Lauder, Leonard Lauder, Vipin Porwal, it's, Julie Ramhold, Michael M, Ramhold Organizations: Walmart, Target, CNBC, Amazon, Apple, Samsung, Google, Sony, DealNews.com, Santiago, Getty Locations: Nordstrom, Sur, New York

☆ As part of the ‘cocktail culture,' consumers are still splurging on dinner and drinks
▼ + stars: | 2023-04-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"Sticker shock" has taken a toll, the report found, with consumers more likely to walk away from a purchase because the price is too high. Further, when it comes to discretionary spending, adults are more likely to treat themselves to dinner out or premium spirits rather than cosmetics. Consumers in the U.S. are four times more likely to have said their latest splurge purchase was food and beverages over personal care, Deloitte found. "Despite the tough economy, consumers continued to enjoy premium spirits and fine cocktails," Chris Swonger, president and CEO of the Distilled Spirits Council of the United States, said in a statement. "Cocktail culture continues to thrive in the United States," Swonger said.

☆ Why economists study hemline lengths and men's underwear sales for clues we could be headed for a recession
▼ + stars: | 2023-04-10 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +1 min

The creation of the lipstick index is widely attributed to Leonard Lauder, one of the billionaire heirs to the Estée Lauder cosmetics fortune. Back in 2001, when the US economy was in the throes of a recession, Lauder noticed that lipstick sales were actually rising, not falling. Lauder's theory was that lipstick sales and the health of the economy were in inverse proportion to one another — essentially, as the economy got worse, lipstick sales got better. The lipstick index has borne out several times throughout history. Still, lipstick probably isn't a reliable recession indicator — there are plenty of times when cosmetics sales have boomed during times of relative economic prosperity and dipped during downturns.

☆ The 'lipstick index' strikes again: Beauty shoppers are still spending big, even as US consumers dial back on everything else
▼ + stars: | 2023-03-13 | by ( Avery Hartmans | Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Beauty sales are bucking a trend of declining consumer spending in other categories. The strength in beauty is reflecting a long-held retail indicator called the "lipstick index." Consumers are spending more on beauty in general, with over a third of survey respondents saying they spent over $500 on beauty products in the past year, up from a quarter the year prior, according to Inmar Intelligence. Other beauty retail partnerships, like Sephora and Kohl's, are getting a boost from the lipstick indexUlta and Target aren't the only retailers seeing beauty products fly off the shelves. In fact, the allure of Sephora is so strong that it's helped buoy same-store sales for Kohl's and draw younger consumers.

☆ America’s richest lost $660 billion collectively in 2022 — Elon Musk lost the most
▼ + stars: | 2022-12-27 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

Globally, the world's billionaires lost nearly $2 trillion, combined, in 2022, according to Forbes. Jeff BezosTitle: Founder and chair, AmazonEstimated 2022 losses: -$80 billionNet worth: $106.8 billion as of Dec. 272. Mark ZuckerbergTitle: Co-founder, Meta Platforms (Facebook's parent company)Estimated 2022 losses: -$78 billionNet worth: $42.7 billion as of Dec. 273. Larry PageTitle: Co-founder and board member, GoogleEstimated 2022 losses: -$40 billionNet worth: $76.8 billion as of Dec. 274. Phil KnightTitle: Chair, NikeEstimated 2022 losses: -$18.3 billionNet worth: $45.2 billion as of Dec. 275.

☆ The Lipstick Index Is Back
▼ + stars: | 2022-11-24 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Lipstick is one of the few beauty products where sales are up versus before the pandemic. Masks off, lipstick index on. In a gloomy economy, consumers might cut back on other discretionary purchases but will keep shelling out for small luxuries such as lipstick—or so goes the theory. “When lipstick sales go up, people don’t want to buy dresses,” Leonard Lauder , then-chairman of Estée Lauder who is widely credited for coming up with the so-called “lipstick index,” told The Wall Street Journal in 2001.

☆ Consumers are looking to chocolate, Oreos, and Twinkies to 'not feel terrible all the time' — Hershey, Hostess, and Mondelez are cashing in
▼ + stars: | 2022-11-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

Consumers are buying more chocolate and cookies as recession fears hang over the economy. But they are still buying smaller pleasures, including sweet treats like cookies and chocolate. Now, many of the same companies are seeing sales of chocolate, cookies, and other sweet snacks rise. "Our products remain an affordable treat for families and consumers," Michele Buck, the CEO of Hershey, told analysts on a call. While consumers cut back spending in many areas, such as travel, sales of lipstick actually grew.

☆ Get ready to pay more for makeup as inflation hits the cosmetics aisle
▼ + stars: | 2022-09-17 | by ( Lakshmi Varanasi | Andy Kiersz | ) www.businessinsider.com time to read: +3 min

Cosmetics prices rose by 2.3% between July to August 2022, according to market research firm NPD Group. Changes in cosmetics prices over the past five years based on data from the consumer price index via U.S. Bureau of Labor Statistics. Andy KierszMaria Salcedo, senior vice president of merchandising for national beauty chain Ulta, said demand for cosmetics remains strong, despite price hikes. "Consumers continue to adjust to inflation pressures by spending thoughtfully on what's valuable and important to them, including beauty," Salcedo told Insider by email. During the recession of 2001, Leonard Lauder, heir of makeup mogul Estee Lauder, is said to have coined the term "Lipstick Index."

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