Even as the US enters a technical recession and inflation surges, lipstick sales continue to climb.
Per The NPD Group, lip products are the strongest-performing sector within the makeup category, seeing 40 percent year-over-year growth during the first half of 2022, while makeup at large has endured 20 percent year-over-year growth over the same period.
“There’s obviously a lot of inflationary pressure right now, but we’re just not feeling that just yet in beauty,” said NPD’s vice president Larissa Jensen, who noted that beauty products have only encountered a 3 percent increase in average prices during the first half of 2022, a comparatively lower change than that of other industries during the same period.
Leonard A. Lauder’s so-called Lipstick Index, which theorizes that makeup sales increase during times of economic turmoil, has proven true thus far during 2022, with NPD reporting that prestige beauty grew 16 percent to $6 billion in Q2, while lipstick revenues increased 28 percent year-over-year during the same quarter.
“In the past, we have seen prestige beauty suffer in terms of performance, like during the last recession in 2008, where we saw declines in every category” Jensen said. “However, I think we’re in a very different place today. The consumer is very different, and as we’ve seen consumer sentiment decline, lipstick sales have started to rise.”
NPD also noted that lip products are among the most common makeup impulse purchases made by consumers, reporting that 37 percent of consumers would purchase a lipstick on impulse, while 44 percent would purchase a lip gloss on impulse. Notably, 53 percent would buy a lip product of any kind without testing it beforehand.
National Lipstick Day has historically spurred significant surges in lip product sales, with NPD reporting that in previous years, sales volume of lip products has been seen between 25 to 50 percent increases on the holiday, as compared to weeks prior. This year, celebrate National Lipstick Day with the following offerings by Smashbox, Honest Beauty, Bobbi Brown and more.
Christian Louboutin Velvet Matte Lip Color in shade “Triluna,” $90 at Nordstrom, Bergdorf Goodman, Saks Fifth Avenue and Neiman Marcus.
Maybelline New York Superstay Vinyl Ink Liquid Lip Color in shade “Coy,” $11.99 at maybelline.com, Ulta Beauty, Target and CVS Pharmacy.
Bobbi Brown Cosmetics Crushed Lip Color in shade “Ruby,” $32 at Sephora, Ulta Beauty and Macy’s, and is 30 percent off from July 29 to July 31 at select retailers including nordstrom.com.
Dries Van Noten Satin Lipstick in shade “Ottoman Brown,” $40 at driesvannoten.com.
Honest Beauty Liquid Lipstick in shade “Off Duty,” $14.99 at honestbeauty.com and Ulta Beauty.
Smashbox Cosmetics Be Legendary Prime & Plush Lipstick in shade “Be Seen,” $24 at smashbox.com, Sephora and Ulta Beauty.