Image via Estée Lauder

Oh my darling, darling skincare aficionados, will you turn away from skincare and start spending all your beauty bucks on lipstick? I hope not, but according to this recent New York Times article, all bets say you will!

Three sorts of products sell robustly during tough times, said Lou Crandall, the chief economist at Wrightson ICAP, an independent research firm.

The first is what economists call traditional inferior goods, what people have to buy when they can no longer afford their favorites. If you're a salmon lover eating tuna casserole, you're chewing on inferior goods.

Lipsticks aren't inferior goods, economists say, but they could be small indulgences, an inexpensive treat meant to substitute for a bigger-ticket item. Or lipsticks could also be morale boosters, like Charlie Chaplin films were during the Depression. A warm shade that perfectly matches your skin tone might make you forget how far your 401(k) has tanked.

The article is mostly about how lipstick trumps gloss when it comes to hard times. It's more classic, it has longevity, etc. But ever insightful Product Fiend blogger that I am, leave it to me to take this fundamental truth and take it to the next level. Because hey, lipstick is cheaper than fancy (yet to some of us around here,  indispensable) skincare items. But hark, another deep thought:

Having lovely skin never goes out of style, so let me propose a compromise. The fabulous thing about lipstick is that it's so versatile as a product. For example, whereas not all of us can succumb to being drugstore cowgirls when it comes to skincare (though yes, there are amazing inexpensive skincare brands like Neutrogena and Cetaphil and Boots that I just adore), I've never noticed any huge difference in performance between my Estée Lauder lipstick and the ones I've worn since the olden days, namely, Revlon.

Economic downturn absolutely entails spending more wisely, even--alas--when it comes to beauty products. But when you buy a $7 lipstick, surely you can splurge on a delicious $30 exfoliant, no?