Startups
Have you ever heard of the Lipstick effect? This is what we also faced during the pandemic last year. It means that during recessions, economic downturns, or when consumers have very little cash in hand, they continue and sometimes increase to spend their money on low-budget luxuries. For instance, during covid, people found solace in their personal care leading to the boost of the skincare and beauty industry.
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about 3 years ago