Lipsticks by Stacy Greene |
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Beauty is a powerful tool for creativity, self-expression, and defying cultural norms. In times of economic turmoil — like today’s cost-of-living-crisis — beauty has also become a new luxury. In the lead-up to the launch of our new report, Beyond Beauty, A Future Beauty Yearbook, we’ll be sharing a two-part beauty series, starting with beauty predicting the economy and the rise of beauty as a form of luxury.
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“Beauty is a recession-proof industry and continues to open up new categories.”
— Brinn Garner, Chief Revenue Officer at Orveon, Forbes
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Lipstick has always been a highly politicised cosmetic across civilisations and continents. In ancient Greek civilisation, the cosmetic made sex workers visible, as they were were required by law to wear red pigment on their lips. The ancient Egyptians wore red lipstick as an indicator of social status. Egyptian red lipstick was made from crushed bugs — an ingredient that still appears in many lipsticks today (Axiology, 2017). Used as a symbol of women’s rights by the suffragettes in 1912, red lipstick was worn during marches advocating for women's rights. Later, the beauty product became a tool of patriotism in WW2, when women sent letters marked with lipstick kisses to bolster soldiers' morale. |
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Cochineal bug, These New Potatoes Can Replace Red Food Coloring Made From Crushed Bugs, Intelligent Living 2019 |
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The concept that consumers buy more lipstick during economic downturns was first introduced by economics and sociology professor Juliet Schor in her 1998 book, The Overspent American. Schor suggested that women with limited disposable income turned to high-end lipstick, partly because it was an affordable luxury they could reapply in public, signalling status through a small but visible indulgence. A few years later, Schor's theory gained wider attention when Esteé Lauder's chairman, Leonard Lauder, observed a notable rise in lipstick sales following the September 2001 attacks on the World Trade Center and the Pentagon.
Schor wrote, “They are looking for affordable luxury, the thrill of buying in an expensive department store, indulging in a fantasy of beauty and sexiness, buying ‘hope in a bottle.’ Cosmetics are an escape from an otherwise drab everyday existence.” (Source: Juliet Schor via QZ)
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Lipsticks Strategic Business Report 2024-2030: Innovations in Long-Lasting and Transfer-Resistant Formulas, Increasing Inclusivity in Shade Ranges and Brands Fueling Growth, Research and Markets 2024 |
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The Dazed Beauty Report, November 2024 |
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“The trend of full lips may have become a billion-dollar industry in the past few decades, but the desire for full lips finds its roots in psychology, history, sociology, and evolutionary biology. Overt sensuality has replaced Victorian coyness, but that might have less to do with our newfound sexual freedom and more to do with the way we consume beauty products, media images, and each other.” (The Cut, 2018)
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This is what happens when a beauty AI does Kylie Jenner's make-up, Photography by Daniel Sanwald |
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The hand soap status-signalling has gotten out of hand.
£40 for a niche hand soap?! A 2024 report by Expert Market Research stated the global soap market could reach over $36 billion in revenue by 2032.
The average markup on cosmetics is 78% and, “since most cosmetics are made from various combinations of dirt, oil, wax, and fragrance, it’s surprising that shoppers pay such a premium.” (Yahoo Finance) |
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The global fragrance market is on the up; revenues from 2025 are forecast to increase by 2.71%, to $61.49 billion (Fragrance market Size 2018-2028, Oberlo). Jing Daily recently reported the rise of niche fragrances in China, as consumers prioritise quality, craftsmanship and individuality. The publication reported that according to an iResearch survey of 600 respondents in mainland China in May of this year, over the past six months, fragrance usage patterns have shifted significantly to reflect an increased interest in localism; entry-level domestic fragrances increased their market share from 18% to 21%, while international niche fragrances declined by 4%.
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Moro Dabron | Briar Perfume by Moro Dabron |
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Is beauty-based inequality gendered? One 2023 study published by Taylor and Francis found that while both women and men generally benefit from attractiveness, only women get penalised for being attractive. In China, men’s skincare is booming, and male pop stars have become marketing tools for beauty brands looking to appeal not only to male fans but also to broader audiences. In Europe, The Business of Fashion recently reported a story on the success of French TikTok teen idol and beauty influencer Bach Buquen, whose "'hetero dude’ image could push more of his male Gen-Z peers to buy into cosmetics, creating growth opportunities for brands with genderless lines.” In 2023, the men's skincare market was worth $13.56 billion. The market is expected to grow to $20.15 billion by 2032, expanding at an estimated CAGR of 4.5%. The men's grooming products market was worth $58.46 billion last year, and is expected to grow to $85.53 billion by 2032. And in 2022, the global male personal care market was worth nearly $80 billion, expected to grow to $115 billion by 2028. |
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Richard E Grant for Charlotte Tilbury |
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“When I was a kid, I used to put oil all over my face to make it shiny. I was trying to recreate the Hollywood glow.”
Darlings, Richard E Grant is now the face of Charlotte Tilbury.
Prestige Hair saw 11% growth, while the mass market saw just 1% growth.
The fragrance category grew 13% in prestige and dipped 2% in mass.
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Invite-only Botox parties are being marketed to us as a quintessential ‘girl gathering’ of our time, in a rising number of direct-sales parties which combine community and capitalism.
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At Hayley Beiber’s Rhode popped up in London, a seven-hour queue snaked the streets of Mayfair. Dazed Beauty asked, Why were they so willing to queue for an entire day to shop products that can easily be bought online? Was it for social media clout? Are the products – or even the act of queueing itself – some kind of status symbol?
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Rhode girls: A 7-hour queue is beauty’s latest status symbol by Humeara Mohamed, Dazed Digital 2024 |
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With memberships costing up to $10,000 a month, Manhattan’s new ‘fourth spaces’ are offering ‘soft-spoken interactions’ and sober-curious social events built on the basis of being exclusive – offering you the chance to mingle only with people within a certain income bracket.
— Dazed |
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“I’ve optimistically predicted a year of fun, extreme beauty for 2025. I think the reactions we’ve seen to Chappell’s make-up, the Pat McGrath looks for Margiela at the beginning of the year, and silly TikTok trends like the sunburn aesthetic, suggest that people are open to and even hungry for something that’s a bit different and dramatic; a collective desire for makeup that is expressive and fearless.”
— Alex Peters, Dazed Beauty |
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Maison Margiela Artisanal Spring Summer 2024 Show, Make-Up by Pat McGrath
Chappell Roan at the 2024 MTV Music Video Awards |
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“In some times and places, much of entertainment has focused on facial expression: silent film, for example — Mary Pickford, Clara Bow, Charlie Chaplin. The makeup trend for lips back then was to have a very defined Cupid's bow painted with a dark pigment grease paint, this exaggerated the mouth with sharp lines, making changes in movement more legible at a distance. Lip injections, when done improperly, have the opposite effect. They degrade the vermillion border, which separates the pink of your lips (the mucous membrane) from the skin above. One step further, we have entered into an age where the lip-lining trend is to erase that gap in the Cupid's bow. In other words, to create a perfect curve from one corner of the mouth to the other, no angles.”
– Emily Schubert, Special Effects Makeup Artist |
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Beauty of the Beast is not a beauty book but a “transformation manual”, published by A24, created by special effects make-up artist Emily Schubert and editor Claire Marie Healy |
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Lipstick’s Complex HistoryFrom antiquity to the present, the laws governing the wearing of lipstick have been shaped by gender, class, safety, and religion.JSTOR
A History of Lipstick As Warfare
The Lipstick Index: Sign of Economic Times
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Contributors: Bryony Stone, Emily Schubert |
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