Bring on the Lipstick!
Posted - November 6, 2008
Economic crises prompt up-turn in small, feel-good luxuries
Smart cosmetics firms stand to benefit from the world’s current economic troubles. While female shoppers may be pinching the pursestrings on big-ticket items, many in the industry agree that more money is spent on small luxuries like lipstick during recessions.
Feeling down? Spend a bit to brighten your lips and look your best.
Mr. Leonard Lauder of cosmetics giant Estee Lauder told Magazin, the magazine offshoot of German newspaper Süddeutsche Zeitung, that the “Lipstick Index” rose after the now-infamous date of Sept. 11, 2001. The article in the October issue of Magazin says Lauder’s US lipstick sales doubled that year!
With more conscientious consumers seeking organic options, lipsticks that are healthy for the lips, the land, and the looks are a choice more ladies looking for a little luxury may make. Organic Monitor estimated in May that organic and worldwide natural cosmetics sales would reach $7 billion by the end of 2008 – fully $1 billion more than last year’s total. Forward-thinking Germany, meanwhile, saw that category reach 5% of the total German cosmetic market in 2007, a portion valued at 613 million EUR.
Amongst the many events confirming the continued success of this industry, Vivaness stands out as one that brings the whole world of natural cosmetics together. The annual event has been held since 2006 and is co-located with BioFach Nuremberg.
With Europe’s leading certification agencies for cosmetics developing a harmonised standard for natural cosmetics, to be available later in 2008, it could be time for consumers to step up to the plate and try more of the organic beauty products that are now available to them when they really want that little treat.
Sources:
http://sz-magazin.sueddeutsche.de/texte/anzeigen/26877
http://www.biofach.de/de/press/ars12/ars25/?arspageid=25.pm.4682
