Divya Seth went to a fancy multistoried fashion store to buy a perfume and like everyone else the inflation took her in frenzy too. But thankfully after few minutes she came out happy with a lipstick purchase.
Well, it may sound bizarre but this event can be understood by the theory once proposed by Leonard Lauder, the chairman of Estée Lauder Companies. He said, "The terrorist attacks of 2001 deflated the economy and the company sold more lipstick than usual.
It implies that when the economy is shaky the sales increase, as women boost their mood with inexpensive lipstick purchases instead of $500 sling backs."
But how much does it hold true for Indian economy, does it mean that rise in prices can be checked with a sales figure of lipstick soaring high?
Smriti Gupta of Kunchal's, a beauty store, says, "I don't know the economics so well, but recently we have been seeing lot of women buying lipsticks.
Also we have seen the trend that ladies who were buying lipsticks of international brands have deterred from buying them and now are buying domestic brands."
Check the colour
Ask the compulsive shoppers how do they stop themselves from buying things at the time when prices go up. Nina Chaddha, a marketing executive says, "I can't stop myself from buying things. But lately the best thing I do is that when the urge of buying comes I pick up a shade of lipstick and my need is fulfilled."
Economists may have another theory but the Psychiatrists coudn't agree more with Leonard Lauder theory Neelu A Shukla, Clinical psychologist, Delhi Psychiatric Centre, says, "This theory must be true because at times we tend to indulge in smaller joys like buying a lipstick instead of a bag just because we ought to buy something."