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snappieT
on April 17, 2020
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Shopify CTO: our platform is now handling Black Fr...
This sounds like the lipstick effect [0] - consumers buy inexpensive luxuries when they're feeling cash-strapped. Tends to be a leading indicator of recessions (though I don't suggest that's the exact phenomenon that's happening here)
[0]
https://www.investopedia.com/terms/l/lipstick-effect.asp
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[0] https://www.investopedia.com/terms/l/lipstick-effect.asp