How Women Are Reclaiming the "Lipstick Effect" Through Jewelry

Have you heard of the Lipstick Effect? It’s okay, I hadn’t until recently either. It’s a theory coined in 2001 in response to women allowing themselves small luxuries during periods when the economy wasn’t so great. Instead of splurging on a designer bag or an entirely new wardrobe, they would opt for a luxurious lipstick, a watch, or a small accessory that still made them feel new and put togethe