Consumers are prioritizing wellness as makeup, skin care and hair care prove to be a ‘low-ticket indulgence’
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Government data shows inflation stood at 5 percent in March, leaving many Americans struggling to afford groceries and other essentials. But beauty is an outlier, said Manola Soler, senior director in Alvarez & Marsal’s consumer and retail group. It’s resilient, as reflected by the “lipstick index,” a term coined during the 2001 recession by Estée Lauder heir and chairman Leonard Lauder, who noticed that lipstick sales still managed to climb during the economic downturn.