The ‘lipstick index’ theory posits that lipstick sales rise during times of economic downturn.
NEW YORK — Like many Americans, Karla Maldonado has been cutting back her spending to spare her wallet from rising costs: She is eating out less and attending fewer social events to curb the impact of high gas prices.
But the 26-year-old social worker of Portland, Oregon, hasn’t skimped on her eye makeup — the mascara, eyeliner and eyeshadow she typically wears to work just above her face mask.
“That’s something I can’t go without,” Maldonado said. And she doesn’t seem to be alone.
Many major retailers slashed
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