How is your lipstick?

Lipstick sales are up 6.7% at Estee Lauder in the last two months.

How are your sales?

Not selling Lipstick? You should be in the present economic climate.

Let us explain;

“The Lipstick Factor” was coined by Leonard Lauder in 2008 when he noticed that Estée Lauder lipstick sales increased with every recession. He discovered that during a recession, consumers purchased small, affordable luxury items, and lipstick fell into that category.

Let us now relate to that to our farm. We are in the middle of our Pick Your Own season. It has been okay. Mainly because it takes a tank of gasoline to get to our farm, as we are three and a half hours away from our city market. It has become a luxury item that many people feel they cannot afford. At the same time, our Chestnut Flour sales have increased and are higher than in the past. Our Lipstick productis our Chestnut Flour.

How to identify your lipstick:

The challenge in your business is identifying your “Lipstick” items and promoting them accordingly.

• An affordable indulgence with a relatively low price point.

• High Emotional Value that offers the consumer a ‘Feel Good' factor in time when they feel stressed.

• Immediate Effect: The item improves the consumer's mood immediately.

• Sales remain Steady during an Economic downturn. This also means they are an indicator of when the consumer economy improves as sales will change again.

• It maintains the consumer's status when they cannot afford more expensive products.

The Challenge:

Select around three potential “Lipstick” lines and promote them. Monitor the sales to ensure you have selected the correct lines. Get it right, and your overall average sale will go up aswell.