When facing financial constraints, consumers will still spend money on small indulgences, such as premium lipsticks, rather than more expensive luxury goods.
#buying
- MacDonald, K., & Dildar, Y. (2020). Social and Psychological Determinants of Consumption: Evidence for the Lipstick Effect During the Great Recession. University of California, Riverside.
- Hill, S. E., Rodeheffer, C. D., Griskevicius, V., Durante, K., & White, A. E. (2012). Boosting beauty in an economic decline: mating, spending, and the lipstick effect. Journal of Personality and Social Psychology, 103(2), 275-291.