Thriving Fragrance Industry: An Olfactory Journey Beyond the ‘Lipstick Effect’
While the enduring ‘lipstick effect’ – consumers’ inclination to indulge in small luxury purchases in times of economic uncertainty – continues to shape spending habits, a nuanced shift is garnering attention in the beauty industry. As fragrances demonstrate resilient demand, they appear to be emerging as another potent symbol of this psychological phenomenon. The robust…