Did you know that economists were using women’s fashion – outfits and make-up – to gauge the state of the economy?! And you thought these MBA-laden gurus pored over a zillion Microsoft Excel spreadsheets and spent many a long night in heavy debates in boardrooms! HA!
According to an article published in Australia, some economists have faith in the Skirt Length Theory and the Leading Lipstick Indicator as sound market indicators, as both tend to demonstrate the state of the economy. Who would have thunk it??
The same site explains the Leading Lipstick Indicator as a theory where consumers turn to “less expensive indulgences, such as lipstick, when she (or he) feels less than confident about the future. Therefore, lipstick sales tend to increase during times of economic uncertainty or a recession.” Supposedly, after the attacks of 9/11 sales of lipstick products doubled.
Another economic indicator is the Hot Waitress Economic Indicator. Typically, it is propositioned, in a strong economy attractive people hold better paying jobs so are less likely to be found working in lower paying positions. However, in a weak economy, they are forced to look for other work and, thus, are found in lower paying positions such as waitressing.
But don’t feel left out of the economic equation, men! There is actually an economic fashion trend on the male side…
Behold – the Men’s Underwear Index!
Men, unlike women, view underwear as a necessity so sales on male underwear is typically steady and dependable. However, in bad economic times, sales for men’s underwear drops considerably and only picks up again when the economy improves.
Let us hope that 2010 brings shorter hemlines, pale, natural lips, ugly waitresses, and men with drawers of new underwear!