Editor
In times of economic turmoil, beauty consumers still like to treat themselves – they just do it in moderation. In lieu of Botox treatments or body contouring to lift their spirits, buyers will instead splurge on a $30 face mask or tube of mascara. Beauty company bosses call this the “lipstick effect,” and use it to convince investors of their business’s resilience.
This year, however, persistently high inflation and gloomy economy…
