Lipstick effect boosting sales for Debenhams
Debenhams department stores have seen a recent increase in sales and are putting it down to cash-strapped shoppers cheering themselves up with affordable treats; a phenomenon dubbed the “lipstick effect.”
The beauty department of the store has done surprisingly well, says Debenhams, considering the high street downturn. Female shoppers buying make up and perfume have helped the retailer increase its premium beauty market share from 26.5pc to 28pc of the market.
Michael Sharp, Debenhams’ deputy chief executive, says like for like sales, including those made online, increased by 1.1pc over the last 43 weeks (ending June 25th). Internet sales increased by a whopping 77pc during this same period.
Mr Sharp explained the success they have experienced, “Customers are focused on value not price, and quality is more important than before. Two-thirds of our shoppers say that Designers at Debenhams is the reason they shop there. They are also looking for promotions and for newness.”
