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What is the similarity between lipstick and GDP? Why do economists become interested in the sales of lipsticks, movie tickets, beer, and chocolates, during the economic crisis? In the times of fast-changing consumer behavior, predicting the business perspectives in the 21st century has evolved to be a complex task. The futuristic growth of any economy is often anticipated using certain theories or phenomena. One such phenomenon called Lipstick Effect has been quite popular among business analysts, strategists, consultants, investors and, advertising designers, since the times of post-war depression. Read further to learn about the role of lipsticks during the rise and fall of the economy...

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