Analyzing Just How Much Money There is in Beauty
The research has highlighted the gargantuan amount of money which is spent each year on beauty products and just how important certain celebrities and social media stars can be when it comes to who influences which products people buy. Let’s take a look then at just what the cost of beauty truly can be.
For years celebs and other famous people have influenced the clothes that we buy and in recent years it is the beauty products of our favorite stars that we are all after, here are some of the celebs who are having the biggest impacts and just what they are promoting.
Michelle Phan – Vlogger
Beauty blogger Michelle Phan has become a vlogging and entrepreneurial phenomenon since starting her own YouTube channel which boasts an incredible 6 million plus subscribers. Her tips have become the go-to place for many looking to improve their appearance and her popularity has bagged her an annual salary of over £2 million.
Zoella – Vlogger
Much like Michelle Phan, beauty blogger Zoella has gradually built her fanbase over the years and also boasts over 6 million subscribers to her channel. Zoella’s salary is almost identical to Phan’s as well, at just over the £2 million mark thanks to advertising revenue which she receives from her beauty videos.
Kim Kardashian – All-round Celeb
The influential socialite, Instagram queen and reality tv show star Kim Kardashian has been influencing people for years. Whether it be her clothes, her hair, that big butt or even her style of beauty, followers want to know how she does it and what she uses. Kardashian is rumored to spend around 2 hours each day doing her make up and uses equipment and products valued at around £2,400. Such is Kardashian’s love for make-up that she is the part owner of the Kardashian Kollection, a make-up collaboration which is worth a cool £2.82 million.
Speaking on the results of the survey and the celeb influence in particular, managing director of MyVoucherCodes Chris Reilly had this to say:
“The industry in the last few years has been fuelled by social media as we can see from our figures, not just from people wanting to look like their favourite celebrities, but also from people wanting to look ‘Instagram perfect’ in their selfies. The increase in sales and the rise in beauty boxes, shows the cost of beauty in the UK is high and potentially only going to increase.”
How Much We Spend
The study also took a look at how much we spend as a nation on beauty products on average, the UK on the whole spends £284 million per year, an eye watering figure. Let’s take a look at which demographic is spending the most on their make-up and beauty.
- 19-24s spend an average of £1,759 each year, surpassingly the lowest spend per age group.
- 25-34 age group spends £2,045 each year, 4th in the list for biggest spending group.
- 35-44 year old spending tops out at an average of £2,183 each year, putting them 3rd.
- 55-64 year olds spend the second highest amount at an average of £2,190 each year.
- 45-54 year olds come in at number one with an average annual spend of £2,238.
The survey found out some more crucial information about how we spend our money and where, which you can find in this helpful infographic below.