Identifying new beauty trends early on can give you a competitive edge. Mandalyn Academy knows the importance of staying on top of industry news and beauty trends. It helps our students build their expertise, command respect, and to be prepared to identify and exploit career opportunities.
This is especially important as you shape your careers and business strategy. It’s also important if you’re involved in sales and marketing where it helps you identify and take advantage of the sales opportunities that come your way.
Secondly, keeping up-to-date with the industry is key for building expertise. By developing expertise in your career and your industry, you’ll earn the trust and respect from your clientele and the people around you.
Interesting Beauty Trend Statistics and Information
Beauty Salon Revenue growth is expected to improve over the next five years, rising at an average annual rate of 3.3% to $49.3 billion by 2017…this will be driven by an expected increase in per capita disposable income and declining unemployment toward the end of the five-year period…higher disposable incomes could also lead hair salon customers to spend more on higher-value services like manicures, pedicures, facials, hair modification treatments, and massages. (Beauty Salon market research report summary from IBISWorld)
- Total sales in the beauty and personal care industry were roughly $426 billion in 2011.
- Total global beauty sales for January –March 2012 were up 14% to $2,278,000,000
- Total Makeup sales were $932 million, up 10%
- Total Skincare sales were $844 million, up 19%
- Total Fragrance sales were $501 million, up 11%
- In 2011, the US cosmetics & toiletries market surpassed pre-recession levels in sales with a 4.2% growth to exceed $38 billion.
- The revenue of the U.S. cosmetic industry is estimated to amount to about 62.46 billion U.S. dollars in 2016.
- For the top 100 companies in the cosmetic and personal care sectors, sales increased by 25.1% in 2011.
- MAC sells 1 lipstick and 1 eye shadow every 2 seconds
- Daily Makeup Usage
- Average woman spends 20 minutes a day applying makeup
- 4 out of 5 women wear makeup.
- 76% use lip gloss and lipstick
- 65% of respondents report using mascara
- 63% of women report wearing eye shadow
- 62% use eye liner
- 38% use brow pencils
- 22% use lip pencil
- 7% use compact lip color
- Emotional Connection/Motivations
- Nearly half of U.S. women surveyed believe wearing makeup gives them an advantage at work and makes them feel more in control
- 82% of women surveyed believe wearing makeup makes them feel more self-confident
- 86% of women believe that wearing makeup improves their self-image
- Shopping Habits
- Average woman spends $15,000 on makeup in her lifetime.
- From the ages of 16 to 65, a woman shops for cosmetics about five times a year.
- Each time she’ll spend roughly $43, equaling about $216 a year.
- That’s about $2,750 on eye shadow, $1,780 on lipstick and $3,770 on mascara in total
- Differing from other categories, beauty has been the most consistent throughout the economic downturn and recovery.
- On average, women aged 18+ spend $144 year on beauty. By region, the West spends the most on beauty – $154
- In 2011, L’Oreal was the top ranked global beauty manufacturer with arevenue that amounted to about 28.33 billion U.S. dollars in 2011.
- In 2012, Degree Men was the leading U.S. deodorant brand with sales of 78.4 million U.S. dollars.
- In 2012, L’Oréal True Match was the leading U.S. foundation brand in the United States with sales of 32 million U.S. dollars.
- In 2012, private label hair conditioner brands accounted for sales of nearly 23 million U.S. dollars in the United States.
- In 2012, Garnier generated around 122.9 million U.S. dollars. Total sales of U.S. hair coloring vendors amounted to about 938.1 million U.S. dollars in 2012.
- BB creams are the new darling. In the 12 months ending March 2012, BB creams sold in U.S. department stores generated close to $9 million. (The NPD Group / BeautyTrends®)
- Sales of mascara rose 11%. Products with benefits—specifically volume and definition—led the category, increasing 17% and 14%, respectively. (According to research firm The NPD Group, from January through May 2011)