According to a poll by the market research group Mintel, 81 percent of Americans use lipstick, that’s ten percent more than even French women. It’s a big niche in the cosmetics market. During the early 2000s recession, Leonard Lauder, chairman of Estee Lauder, coined the term “lipstick index” to describe the correlation of economic health with sales of cosmetics, lipstick in particular.
Americans are celebrating National Lipstick Day this year (July 29), and they’ll likely celebrate a forthcoming National Nail Polish Day. Another study by Mintel reveals that overall nail polish sales had doubled over the years 2005 to 2010. Like lipstick, nail polish is a popular low-cost indulgence in hard times.