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Women are Affected by Economy; Find Solace in Beauty

Posted: October 10, 2008

Anxiety, insomnia, fear … women are being drastically affected by the economic downturn, both in their spending habits and their psychological well-being, according to a survey by In the survey of more than 100 women, 75% of respondents indicated that on a scale of 1 to 10 (1 being “not at all” and 10 being “extreme”), their anxiety about the economy rated a 6 or higher, with 20% choosing 8 and 21% choosing 9.

Regardless of the downturn in the economy, women are still willing to make small purchases to treat themselves and give themselves a boost. In response to the question, “In this economic downturn, what small purchase most comforts you?” respondents answered:

  • Beauty products (18%)
  • Manicure/pedicures (18%)
  • Chocolate (16%)
  • New shoes (10%)
  • Lingerie from Victoria’s Secret or Gap Body (3%)

“Other” answers included books and having their hair done. Only 15% said “none.”

What worries women the most? In a nutshell … everything. Answers ran the gamut from affording groceries and other staples like gas (25%) to a wide variety of fears, such as: job loss, making credit card payments, and a general fear for the country’s future.

Not surprisingly, the economy is a major factor for women in deciding whom to vote for in the 2008 presidential election: On a scale of 1 to 5 (1 being “not at all” and 5 being “it’s the most important), 45% chose 4 and 30% chose 5. Several respondents express hope that the crisis will clear up with the next president.