‘Lipstick effect’: Britons turn to small luxuries in cost of living crisis

Strong demand for beauty products such as eyeliners and mascaras, as chocolate and coffee also sell well

The shadow cast by the cost of living crisis has spurred a retreat into small luxuries with Britons cheering themselves up with mood boosters such as luxury lip balms and false nails as well as chocolate and coffee.

The lipstick index, coined by Estee Lauder's Leonard Lauder, is the idea that sales of affordable luxuries rise in economic downturns. This spending behaviour has been true during previous downturns and the same picture is emerging again as consumers battle severe financial headwinds.