For many years, the beauty industry has clung on to the notion that, in times of crisis, we cheer ourselves with a brand new lipstick. The times, though, are a-changing, and the lipstick factor that was is no longer so relevant. According to a recent study conducted by Mintel, only 3% of a cross section of women from the UK, France and America said that they purchased a new lipstick to make themselves feel better. In fact, lip colour came top of the list of cosmetic products women would be most likely to cut from their beauty arsenal.

The beauty counters are still bustling, though, and women continue to spend, viewing beauty as a necessity rather than a perk-me-up luxury. “Women are still buying at the same level, but they are looking for products with integrity,” says Ed Burstell, buying director for beauty at Liberty. “That means products that are not about fancy overpackaging, but about the stuff itself.”

So what, exactly, are we willing to splash out on? Well, the report suggests that women are opting to invest in performance-based skincare and body products over

colour. Mintel has dubbed this “austerity chic”; in other words, looking good for less. So that’s out with coloured seasonal make-up items — lipstick and eye shadow, beauty’s equivalent of disposable fashion — and in with products that have the power to transform our looks over time, imparting radiance and health.

L’Oréal has also witnessed a shift in make-up buying habits, as demonstrated by the recent L’Oréal Beauty barometer report. For the first time, foundation has overtaken lipstick as the number-one product that women cite as “the most vital component in their everyday beauty regime”. This is partly thanks to the ever-growing assortment of foundation textures and formulas on the shelves, but it’s also a primal thing: we’re striving to look and feel our best, throwing a veil over under-eye shadows and blotchy skin, despite the stresses and strains of the economic crisis.

The trick seems to be knowing what products to splash out on and knowing where to cut corners. Here are our top picks to get you started.

SPEND ON

Aromatherapy Associates Enrich Body Scrub, £26; 020 8569 7030

Some beauty products can’t be scrimped on, and exfoliator is one of them; this is gentle and not too sticky. We haven’t found a cheaper version that’s as good.

Philip Kingsley Elasticizer, £65 for 1l; philipkingsley.com

As long as you have a healthy supply of Elasticizer to prewash your hair, you needn’t shell out on expensive shampoos. This product adds volume and bounce and we are never without it — even on holiday.

Mac Lipstick in Lady Danger, £11.26; 0870 034 2676

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