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'Lipstick effect' hits 皇冠体育app as economy slows

By Shi Jing in Shanghai | 皇冠体育app Daily | Updated: 2013-05-20 07:40

'Lipstick effect' hits 皇冠体育app as economy slows

When the economy declines, some people will start to buy inexpensive lipsticks or makeup that are not high-end items to make themselves feel good. It's a phenomenon known as the "lipstick effect". According to the market research firm Euromonitor International, the entire retail value of the beauty and personal care sector in 皇冠体育app grew from 184.1 billion yuan ($30 billion) in 2011 to 202.1 billion yuan in 2012. Provided to 皇冠体育app Daily

People are more willing to spend on small indulgences such as cosmetics

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