Why do we splurge when we're broke?! | The Lipstick Effect explained by Rob Davis (THG)

Rob Davis of THG dives into the intriguing concept of the "Lipstick Effect" and why consumers tend to splurge on small luxury items even during economic downturns.
This segment is part of a broader discussion Rob had with Mike Ryan on the impact of AI on the beauty industry and strategies for growing a multinational company post-crisis.
🔗 𝗦𝗼 𝗺𝗮𝗸𝗲 𝘀𝘂𝗿𝗲 𝘁𝗼 𝘄𝗮𝘁𝗰𝗵 𝘁𝗵𝗲 𝗳𝘂𝗹𝗹 𝘃𝗶𝗱𝗲𝗼:
• How AI is Shaping the ...
📈 𝗪𝗵𝘆 𝗪𝗮𝘁𝗰𝗵 𝗧𝗵𝗶𝘀 𝗩𝗶𝗱𝗲𝗼?
Gain a deeper understanding of the Lipstick Effect and how it can be a powerful tool for businesses, especially in the beauty industry.
Rob Davis shares expert insights on consumer behavior, AI's role in the market, and actionable strategies for multinational companies aiming to grow after tough economic times.
💬 𝗝𝗼𝗶𝗻 𝘁𝗵𝗲 𝗖𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻:
Have you noticed changes in your spending habits during economic downturns? How do you think AI is shaping the beauty industry?
Share your thoughts and experiences in the comments below!
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