The amount we spend on beauty each year will likely amaze and astound you. It is a massive, multi-billion-dollar industry and one that is responsible for employing a considerable number of stylists and technicians. Australians spend a staggering $22 billion on beauty when the home-grown sector is projected to reach only $6.7 billion by 2025. Consequently, much of the products consumed are imported.
These numbers are staggering, so let us unpack the data to understand where this money goes and what it means about the Aussie attitude to appearance.
What are we spending our dollars on?
The top category for money spent is skincare. Australia invests $2.9 billion in skincare products each year. Considering the strength of the sun in this part of the world and the need for the proper protections, it is not surprising that our skin comes out on top. It is also a beauty product that transcends gender, as we all need to cleanse and moisturise to keep our youthful looks.
Skincare treatments are almost equal globally, as we spend a further $2.03 billion making sure we have the smoothest, most blemish-free skin possible. There are likely a lot of teenagers using up their part-time job pay on that spot treatment.
Interestingly, hair removal is a massive area for our money – though this likely includes hairdressing, as well as those wax treatments. Finally, big up the men who seem to be as vain as women in their grooming habits – it is good to see the evolution of humanity through our desire to look good.
A drop in the lotion
It seems that the investment by Australians is nothing in comparison to the global consumption of beauty products. The global industry is $716 billion, with China topping the charts with over $13 billion spent on imports in a year. Even the UK overtakes Australia in imports by almost three times, with the US and Japan also exceeding Australia’s consumption.
Who is the vainest of them all?
On average, Australian women shell out $3600 on beauty products. Yet, depending on where you come from, these figures change dramatically. The women from Queensland are the most extravagant, followed closely by South Australia. If you want to go somewhere where beauty is only a scribble at the bottom of the shopping list, then you need to live in Tasmania.
Of course, how many treatments you get for your money will be a better indicator of attitudes. In Melbourne, you will spend $123 on makeup and $105. In Tasmania, you might pay $8 more on your haircut, but your makeup comes in well under $100.
Because you’re worth it!
Of all the brands on offer in the Australian marketplace, L’Oreal comes out on top, closely followed by Revlon. It is interesting how these high-class brands, aimed at those with more disposable income, come out on top. L’Oreal takes almost 12% of the market in Australia and is clearly one of the most loved brands.
On the up!
Statista is clear that the only way is up for the beauty sector, especially for online sales. It is thought that it will continue to grow annually by 3.11%, even when we have been locked in our homes. How we look on the outside clearly does much to help us feel good on the inside too!