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How affordable luxury will play its part in 2023

It is widely acknowledged that 2023 is another challenging year for households – and therefore less disposable income to spend.  It is believed that during these uncertain economic times the lipstick effect comes into play. What is the lipstick effect psychology?The lipstick effect is when consumers still spend money on small indulgences during recessions, economic downturns, or when they personally have little cash. They do not have enough to spend on big-ticket luxury items; h...

January 19, 2023 Posts 1-1 of 1 | Page
 

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