[🇺🇸] Luxury in a Downturn: $280 Shampoos and $400 Perfumes Are Selling Fast

Despite economic downturns, the “lipstick effect” — consumers seeking small luxuries for happiness — is expanding into high-end cosmetics, niche perfumes, and premium haircare.

Shinsegae International reports that premium niche perfume brand Ex Nihilo saw sales surge 120% this year, with over 60% of buyers in their 20s and 30s. Other second-generation niche perfume brands, such as France’s Memo Paris, are also posting double-digit annual growth. Luxury cosmetic brands are booming as well, with Dolce & Gabbana Beauty sales up 157% this year.

Haircare is joining the “small luxury” trend. Italian brand Davines saw its 120,000 KRW shampoo rank No.1 in sales, with revenue up 42% and 75% of buyers from the MZ generation. Likewise, Oribe, known as the “Chanel of shampoos,” is enjoying strong demand for its 280,000 KRW shampoos and hair oils.

Industry experts believe this premium consumption trend will continue, driven by younger consumers who value rarity and individuality.

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