In an age of uncertainty consumers are seeking solace in impulse purchases, but industry experts brands need to tread carefully.

The lipstick effect refers to the stereotype that women buy more lipstick in a recession in order to cheer themselves up.

The gender stereotype is shorthand for a long-held belief that when facing an economic crisis consumers will be more willing to buy less costly luxury goods to cheer themselves up.

The idea that sales of affordable luxuries rise in economic downturns has held true, but this is a trend which is about far more than lipstick and the deeply misogynistic stereotype that women disproportionately spend on fripperies in challenging economic times.

In fact, the rise of ‘doom spending’ is a trend which has nothing to do with gender. Rather than the escapism of a relatively affordable yet unnecessary treat, doom spending is a trend which identifies the increase in spending of excessive amounts of money on luxury things or experiences, such as holidays, without looking at the long-term impact on your finances. In essence, doom spending is a response to a poor outlook on the future of the planet and your bank balance.

A recent study by Credit Karma revealed that 43% of Millennials and 35% of Gen Z’s doom spend to make themselves feel better about the state of the world or about how out of reach their dream lives seem.

But what if that impulse isn’t in consumers' best interest? With this in mind, we asked industry experts if marketing is fuelling doom spending and if brands should be more mindful of their marketing messages?

Is marketing fuelling doom spending?

Alistair Schoonmaker, Co-founder and MD at Ultra, on adopting a ‘find the right questions’ mindset.

As the back-to-school season kicks off, BITE asks industry leaders what they are committed to unlearning. Alistair Schoonmaker, Co-founder and MD at Ultra, is unlearning clients coming with answers and adopting an ask the right questions mindset.

Click here to read the full article on Creativebrief.

This season, I’m unlearning the answers

This is our playground for the unconventional, where our experiments take center stage. It's all about breaking the mold, trying out wild ideas, and embracing the unexpected. This is our playground for the unconventional, where our experiments take center stage. It's all about breaking the mold, trying out wild ideas, and embracing the unexpected. This is our playground for the unconventional, where our experiments take center stage. It's all about breaking the mold, trying out wild ideas, and embracing the unexpected.

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Is marketing fuelling doom spending?

This season, I’m unlearning the answers

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