CEO Kecia Steelman has built the $31 billion beauty retailer for today’s shopper, who’s bypassing overextended luxury for affordable indulgence. And she’s selling a lot of $38 lipsticks to prove it. If you’re feeling anxious about the economy, you’re not alone. Consumer confidence is at its lowest in more than a decade. Americans are worried about inflation, a possible recession, and job security—and that anxiety is reshaping how they spend.