The ‘lipstick effect’ describes how consumers spend money on small indulgences even during times of personal challenge and economic downturn. While these indulgences may be small, the spending signals that consumerism and capitalism are cultural elements of the American psyche. In this session, Tinuiti's head of media, Obele Brown-West, will explore what previous recessions and times of trauma in America can tell us about consumer trends in the wake of the coronavirus pandemic. This session will discuss the realistic potential of a post-COVID world, reviewing what innovation has come from past crisis and how consumerism is part of human recovery.
After this session, you’ll be able to:
- Understand consumer behavior in times of crisis
- Gain clarity on potential marketing areas of focus to prepare for post-pandemic strategy