The "lipstick effect" — a theory that people buy small treats when they can't afford big purchases — could be happening right now as consumers face economic uncertainty, according to experts.

Lipstick Effect: The Lipstick Effect is an economic and psychological idea that explains why people keep buying small luxury items, like lipstick, perfume, or fancy coffee, even during financial ...

Many Americans have been in a “vibecession” for a few years now, feeling economically squeezed despite all traditional indicators – inflation, the jobs report, manufacturing – mostly saying otherwise.