“The Lipstick Effect” Kicks In As Inflation Continues To Climb
CHARLOTTE, N.C. — It’s called “the lipstick effect.” With prices rising on just about everything, our shopping habits are changing. But, we’re still making room for small luxuries, like lipstick or candy.
A new report from market research firm NPD Group says right now, many are making three changes to shopping habits, because of rising prices. First, we are switching to cheaper alternatives, like store brand items. Second, we have stopped spending on non-essentials, like eating out. And third, we are indulging in small pick-me-ups, like flowers or candles.
Retailers like Walmart and Target also report people are, overall, buying less. Even discount stores like Dollar General say consumers are shopping more intentionally.
But, Bath and Body Works is actually reporting higher sales this quarter, with air fresheners being one its top sellers.
Our question of the night: how have your shopping habits changed?
This episode’s panel features:
WCCB TV’s Morgan Fogarty
WCCB TV’s Zach Aldridge
WCCB News Edge contributor and host of Live With The QCB on 94.7FM, Tremaine “QCB” Sloan