Lipstick sales have often been considered a gauge of the economy — the theory being that in tight times women will often buy themselves a new lipstick instead of a new outfit.
Economist Alan Greenspan said he looked to men’s underwear sales as a predictor for a recession or recovery. He believed that in a recession, men failed to replace their underwear.
What are your economic indicators? Are you going to the spa again? Or eating out more often? Or are you still holding back on buying a new book in favor of visiting the library? Perhaps continuing to shop at Goodwill?
- Steven Lien: Owner of Under U 4 Men
- Patrick Emerson: Associate professor of economics at Oregon State University
- Willow Lovage: Owner of Voodoo Tattoo