With the markets down and no sign of a rebounding economy on the horizon, people all around the world are tightening their belts and scrutinizing their budgets. Smaller amounts of disposable income means that most industries are seeing drops in profits. However, hosiery is one of the few seeing increases and experiencing the lipstick effect, or the “Lipstick Index.” This term developed out of an economic trend, during down economic times, that showed as profits for other products decreased, lipstick sales increased. Why? The idea is that when there is less money to spend on yourself, you tend to splurge on those small, relatively inexpensive luxuries, like lipstick, rather than more extravagant wardrobe purchases.
In this past year, hosiery has exhibited this trend. According to sources cited in the Wall Street Journal, U.S. women’s hosiery sales have risen 2.3% over the past year. Dan Sackrowitz, vice president of business development for one of TLP’s favorite online retailers, Bare Necessities, says that customers have been purchasing opaque or patterned tights as a way to update their current wardrobes. He further remarks to the WSJ that sales of hosiery increased 60% in September and 70% in October. Wow! (See here for the full article.)
Want to know more? Check out Rene’s series of informative posts on popular hosiery brands.
Want to know what I have my eye on? See below for my favorite hosiery picks (available at Bare Necessities). And with $5 shipping every day, you can afford to stay in and avoid venturing out into the cold to buy them! 🙂
