It has been known for a long time that women tend to buy lots of lipsticks in the hardest times of crisis in the economy. However, now cosmetic experts say that ladies are far more likely to care about flawless skin and buy lots of liquid foundation.

The chairman of cosmetics group Estée Lauder, Leonard Lauder, invented the term 'Lipstick Index' during the 2001 recession, few weeks after the September 11 tragedy, to explain why sales of Mayfair Mauve and Rich Red lipsticks drastically went up while other beauty products, accessories and clothes were brought down by the wider slump in consumer spending. "When things get tough, women buy lipstick," he said during one interview. "In stressful times many consumers are reaching out for those small indulgences that provide momentary pleasure. When lipstick sales go up, people do not want to buy dresses."

However, L'Oréal, one of the largest beauty companies in the world, has found that at present time foundation has edged out lipstick as the must-have product for women, with more than one third of 18 and 19-year-olds considering it as their most essential beauty product against 8 per cent of those who still prefer buying lipstick. The only age group which still appreciates the glamor of bright lips is the over-60s. Forty per cent of the surveyors in this age category said that lipstick is still the most treasured item for them.

According to L'Oréal, sales of foundation increased by 15 per cent, to compare with 2.5 per cent in the lipstick market, as women long for flawless skin to cope with their financial problems. It is believed that they may be choosing to have an understated look during the recession, rather than the brighter appearance of lipstick. It turns out that the "Foundation Index" is ready to substitute "Lipstick Index" as a barometer of economic climate.

Almost half the individuals that have been questioned in the L'Oreal survey, 47 per cent, felt that wearing makeup gave them 'an edge' over their colleagues at work. In London this figure climbed up to 63 per cent. Leading psychotherapist Lucy Beresford explained that make-up has an extremely positive effect on the way people feel about themselves. If they look good, they feel much better, especially knowing that stress can have a negative impact on the skin.

Choosing and applying good make-up contributes to good mood, and is all part of healthy self-nurture, which is very important for our well being, the experts say. However, even when it comes to beauty products, some ladies are cutting back on a few extra luxuries. They are shopping around for multi-purpose beauty products. It was found that, for example, sales of two-in-one face wash have increased by 5.4 per cent - and individuals are also comparing prices to make sure that they got the best deals.

The L'Oreal poll, which surveyed more than 1,000 women, also found that home hair-coloring kits have become more popular in the past several months, seeing a 7 per cent growth in sales. Another survey by market researchers Nielsen found that sales of nail polish have increased by 11.2 per cent as women now prefer to do their manicures at home in order to save money.

The managing director of L'Oreal company said that it is always good to know that the consumers are turning to cosmetics to make themselves look and feel better and that looking good is still essential when the time is hard. But, understandably, they are also keeping a closer eye on their budgets, and are making sure that every purchase delivers maximum results at reasonable and affordable prices.

Tags: Beauty, Personal Finance

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