Why is this effect called ‘the lipstick effect’

ust like any great invention is named after its discoverer or the era it was discovered in, this effect is named the way it is because: This behavior was observed for the first time in the American economy during the Great Depression when a reduction in industrial production by half and even more was witnessed but the cosmetics industry reported a 25% increase in sales. This rise in sales occurred during the recession of 2008, cosmetics behemoth L’Oréal experienced a sales growth of 5.3% during the first half of the year.