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Lipstick Effect
The lipstick effect is the theory that when facing an economic crisis consumers will be more willing to buy less costly luxury goods. Instead of buying expensive purses and fur coats, for example, people will buy expensive cosmetics, such as high-end brands of lipstick. The underlying assumption is that a certain portion of consumers will still buy luxury goods even during a bad economy. When consumer trust in the economy is dwindling, consumers will buy goods that have less impact on their available funds. Outside the cosmetics market, consumers might be tempted to purchase other high-end goods such as expensive beers, or smaller, less costly electronic gadgets. It has been rumored that lipstick sales doubled after the 9/11 attacks on the United States; however, other sources say this is an overstatement. In a ''New York Times'' article published May 1, 2008, Leonard Lauder is quoted as saying that he noted his company's sales of lipstick rose after the terrorist attacks, he did no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in significant changes in the real economy (e.g. the crisis resulting from the famous tulip mania bubble in the 17th century). Many economists have offered theories about how financial crises develop and how they could be prevented. There is no consensus, however, and financial crises continue to occur from time to time. Types Banking crisis When a bank suffers a sudden rush of withdrawals by depositors, this is called a ''bank run''. Si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Luxury Goods
In economics, a luxury good (or upmarket good) is a good for which demand increases more than what is proportional as income rises, so that expenditures on the good become a greater proportion of overall spending. Luxury goods are in contrast to necessity goods, where demand increases proportionally less than income. ''Luxury goods'' is often used synonymously with ''superior goods''. Definition The word "luxury" originated from the Latin word ''luxuria'', which means exuberance, excess, or abundance. A luxury good can be identified by comparing the demand for the good at one point in time against the demand for the good at a different point in time, at a different income level. When personal income increases, demand for luxury goods increases even more than income does. Conversely, when personal income decreases, demand for luxury goods drops even more than income does. For example, if income rises 1%, and the demand for a product rises 2%, then the product is a luxury good. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lipstick
Lipstick is a cosmetic product used to apply coloration and texture to lips, often made of wax and oil. Different pigments are used to produce color, and minerals such as silica may be used to provide texture. The use of lipstick dates back to early civilizations such as Sumer and the Indus Valley Civilisation, and was popularized in the Western world in the 16th century. Some lipsticks contain traces of toxic materials, such as lead and PFAS, which prompted health concerns and regulation. Lipstick has been prominent in several women's fashion trends, often associated with women's sexuality. The color of lipstick has aesthetic and cultural significance as different colors carry different connotations. Red lipstick has historically been associated with sensuality or women's independence while black lipstick is worn by both men and women in alternative subcultures, especially punk and goth. Celebrities such as Elizabeth Taylor, Madonna, and Taylor Swift have contributed to the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
9/11 Attacks
The September 11 attacks, commonly known as 9/11, were four coordinated Suicide attack, suicide List of terrorist incidents, terrorist attacks carried out by al-Qaeda against the United States on Tuesday, September 11, 2001. That morning, Hijackers in the September 11 attacks, nineteen terrorists Aircraft hijacking, hijacked four commercial Airliner, airliners scheduled to travel from the Northeastern United States to California. The hijackers crashed the first two planes into the Twin Towers of the World Trade Center (1973–2001), World Trade Center in New York City, and the third plane into the Pentagon (the headquarters of the United States Department of Defense, United States military) in Arlington County, Virginia. The fourth plane was intended to hit a Federal government of the United States, federal government building in Washington, D.C., but crashed in a field following a passenger revolt. The attacks killed nearly 3,000 people and instigated the war on terror. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital media, digital subscribers. It also is a producer of popular podcasts such as ''The Daily (podcast), The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones (publisher), George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won List of Pulitzer Prizes awarded to The New York Times, 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national "newspaper of record". For print it is ranked List of newspapers by circulation, 18th in the world by circulation and List of newspapers in the United States, 3rd in the U.S. The paper is owned by the New York Times Company, which is Public company, publicly traded. It has been governed by the Sulzberger family since 189 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leonard Lauder
Leonard Alan Lauder (born March 19, 1933) is an American billionaire, philanthropist, art collector. He and his brother, Ronald Lauder, are the sole heirs to the Estée Lauder Companies cosmetics fortune, founded by their parents, Estée Lauder and Joseph Lauder, in 1946. Having been its CEO until 1999, Lauder is the chairman emeritus of The Estée Lauder Companies Inc. During his tenure as the CEO, the company went public at The New York Stock Exchange in 1996 and acquired several major cosmetics brands, including MAC Cosmetics, Aveda, Bobbi Brown, and La Mer. In 2013, Lauder promised his collection of Cubist art to The Metropolitan Museum of Art. The collection is valued at over $1 billion and constitutes one of the largest gifts in the museum's history. ''Bloomberg Billionaires Index'' estimated Lauder's net worth at US$32.3 billion as of September 2021, the 44th richest person in the world. Biography Leonard Lauder is the elder son of Joseph and Estée Lauder and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chanel
Chanel ( , ) is a French high-end luxury fashion house founded in 1910 by Coco Chanel in Paris. Chanel specializes in women's ready-to-wear, luxury goods, and accessories and licenses its name and branding to Luxottica for eyewear. Chanel is well known for its Chanel No. 5, No. 5 perfume and "Chanel Suit". Chanel is credited for revolutionizing ''haute couture'' and ready-to-wear by replacing structured, Corset, corseted silhouettes with more functional garments that women still found flattering. History Coco Chanel Era ;Establishment and recognition (1909–1920s) The House of Chanel originated in 1909 when Gabrielle Chanel opened a millinery shop at 160 Boulevard Malesherbes, the ground floor of the Parisian flat of the socialite and textile businessman Étienne Balsan, of whom she was the mistress. Because the Balsan flat also was a Salon (gathering), salon for the French hunting and sporting élite, Chanel had the opportunity to meet their ''Demimonde, demi-mondaine'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Economist Group, with its core editorial offices in the United States, as well as across major cities in continental Europe, Asia, and the Middle East. In 2019, its average global print circulation was over 909,476; this, combined with its digital presence, runs to over 1.6 million. Across its social media platforms, it reaches an audience of 35 million, as of 2016. The newspaper has a prominent focus on data journalism and interpretive analysis over original reporting, to both criticism and acclaim. Founded in 1843, ''The Economist'' was first circulated by Scottish economist James Wilson to muster support for abolishing the British Corn Laws (1815–1846), a system of import tariffs. Over time, the newspaper's coverage expanded further into ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics Effects
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational and beh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cosmetics
Cosmetics are constituted mixtures of chemical compounds derived from either natural sources, or synthetically created ones. Cosmetics have various purposes. Those designed for personal care and skin care can be used to cleanse or protect the body or skin. Cosmetics designed to enhance or alter one's appearance (makeup) can be used to conceal blemishes, enhance one's natural features (such as the eyebrows and eyelashes), add color to a person's face, or change the appearance of the face entirely to resemble a different person, creature or object. Cosmetics can also be designed to add fragrance to the body. Definition and etymology The word ''cosmetics'' derives from the Greek (), meaning "technique of dress and ornament", from (), "skilled in ordering or arranging" and that from (), meaning "order" and "ornament". Cosmetics are constituted from a mixture of chemical compounds derived from either natural sources, or synthetically created ones. Legal definition T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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