The lipstick index is officially back, and this time it has way more than just lipstick on its lips. The classic theory that lipstick sales rise during economic uncertainty is having a major comeback in 2026, and beauty brands are absolutely loving it.
For those unfamiliar, the lipstick index was coined in 2001 by Estée Lauder’s Leonard Lauder, who noticed that during recessions, women shifted their splurges to small luxuries like lipstick. It is the affordable indulgence that lifts spirits without breaking the bank.
Today, the index has expanded. While lipstick sales are climbing, so are sales of perfumes, lip glosses, blushes, eyeliners and even nail polishes. Anything that brings instant joy and confidence is a hit.
Red lipstick is leading the charge. The classic Marilyn red, the cherry-stained pout and the deep wine berries are flying off shelves. Red lipstick is a mood, a statement and a power move all in one swipe.
But softer shades are also booming. Brown nudes, peachy pinks and milky beiges are dominating Gen Z makeup bags. The “MLBB” or “my lips but better” trend is one of the most searched beauty looks of the year.
Glosses are having their renaissance too. Y2K-inspired plumping glosses, sheer washes of colour and clear sparkly toppers are everywhere. The juicy lip is officially back.
Beauty brands are responding. Limited editions, collabs, refillable lipsticks and trendy packaging are dropping weekly. TikTok haul videos featuring new lipsticks regularly hit millions of views.
The economics behind it are fascinating. Even when budgets are tight, women still want a moment of beauty in their day. A new lipstick costs less than a meal out but boosts confidence in a way that lasts much longer.
The index also reflects something deeper. Women are choosing self-expression and joy as forms of resistance against difficult times. Showing up looking and feeling beautiful is a small but mighty act of self-love.
So if your makeup bag has been collecting tubes lately, you are not alone. The lipstick index is real, the trend is glowing and the message is clear. When the world feels heavy, paint your lips, lift your chin and walk into the day like the icon you are.
