The Lipstick Economy in Lithuania and Poland: Trends and Consumer Behaviour

Abstrakt

The study examined the “lipstick effect” through a survey of consumers in Lithuania and Poland. Data analysis and comparative methods were used to examine the similarities and differences between these markets. Consumer behaviour during economic downturns was examined, focusing on purchase patterns of inexpensive luxury goods and financial planning strategies. The results reveal significant differences between Lithuanian and Polish consumers. The study took into account key factors influencing purchasing decisions, such as the importance of well-being, price sensitivity and the influence of advertising on purchasing decisions, among others. It showed the need for differentiated approaches when adapting one's strategies in different markets, which, as in the case of Poland and Lithuania, are located within the same region, yet exhibit distinct consumer behaviour patterns requiring tailored marketing strategies. The conclusions drawn in this article contribute to the understanding of consumer behaviour in Eastern European markets during times of economic uncertainty. They can serve as a reference for companies in adjusting their marketing strategies, providing valuable data for economic analysts and marketers operating in these countries. Although the study provides important insights, it does not exhaust the complexity of the "lipstick effect" phenomenon and should be treated as a foundation for further empirical and theoretical research.