Vending machines have a long history dating back to 215BC. Greek mathematician Hero created the first vending machine dispensing holy water in exchange for a coin. Now fast forward to 1880 where the more modern style vending machine was created in London dispensing postcards. From there, it didn’t take long for vending machines to pop up in the U.S. and the rest of the world.
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We welcome your comments on the article written by Cheryl Swanson, Principal at Toniq, USA
Time magazine recently reported on “The Lipstick Index” (Time, Special Money Issue, October 10, 2011). Lipstick sales have long been an economic indicator; when the economy is down, lipstick sales have traditionally gone up. Women would rather spend on little luxuries when purse strings are tighter and the economy is uncertain— and lipstick has been that one affordable luxury that makes a women feel pampered and more confident. Afterall, when you feel beautiful, you are more likely to be optimistic. According to Time magazine, lipstick sales are up 14% in 2011. But what’s more interesting is that nail polish is up 54%. Nail polish is evidently becoming the new US economic index. So if nail polish is the new lipstick, what other new indicators are we seeing in this recessionary economy?
