The beauty industry is a huge one, an international market which trades in billions year on year. Individuals can spend thousands on beauty treatments and products for their personal use, and some of the biggest make-up stars out there are building fortunes. Here, we take a look at the biggest numbers in the beauty industry.
The Expense of Perfection
Thanks to a recent study by My Voucher Codes, we know the answer to the question that they asked: “How much does it cost for celebrities to look as good as they do and how much time does it take them to get preened?” They took a look at two of the biggest names in make-up who are also known for being reality stars: Kim Kardashian and her half-sister, Kylie Jenner. They both spend 2 hours on the make-up regime each day, and Kim spends £2,300 on the beauty products that make up her daily routine. Kylie splashes out a bit further, spending £2,800.
Highest-Earning Stars and Bloggers
Another aspect of the study was to look at the amount that stars and beauty vloggers earn. Kim’s make-up collection, Kardashian Kollection, is valued at £2.82 million. Kylie’s lip kits, on the other hand, have exploded, and her merchandise range is worth £16.5 million. The vloggers are interesting because they don’t have other revenue streams – beauty is what they do, quite simply. Michelle Phan earns £2.1 million a year, a reflection of her 6 million subscribers. In the meantime, Zoella is gaining £50,000 a month, while Tanya Burr is gaining £20,000 in the same span. It’s clear that if you are a beauty influencer, you can make yourself a millionaire from the industry alone.
Cost of Popular Brands
Beauty boxes are a popular subscription service for UK consumers. They contain products put together as a random collection, paid for in advance each month and delivered as a surprise. The most popular beauty boxes tell a story of how much consumers are willing to pay. The favourite is GlossyBox at £10, followed by LookFantastic at £13. Then Cohorted costs £35, while the even more premium Mintd is £65. Birchbox rounds out the top five with another £10 cost.
UK Spending Figures
During each year, people in the UK tend to spend around £284 million on beauty products. We can break this down further to look at the average cost of products and treatments combined across age groups. Those aged 19-24 will spend £1,759 a year; from 25-34 the average spend is £2045; between the ages of 35-44 an average of £2,238 is spent; and between 55 and 64 the average drops slightly to £2,190. It’s not just beauty treatments that cost us. Haircuts cost an average of £23, hair colouring costs £37, manicures cost £17, hair removal will cost £16, and another £16 is spent on tanning. It’s clear that maintaining a look is worth a lot of money in the UK.
The cost of looking perfect is clearly very high, as MyVoucherCodes director Chris Reilly puts it: “It’s safe to say that the true cost of beauty in the UK is well in the millions and that’s not including the time spent using the products but also following celebrities and vloggers tips.”