Yahoo! Shine reports that as of 2013, women collectively spend about $426 billion on beauty products each year. According to an article from In Style that year, the average woman spends $15,000 on beauty products over the course of her lifetime. Nearly $3,770 is spent on mascara, $2,750 on eye shadow, and $1,780 on lipstick.Continue Reading
As calculated from polling done by the Huffington Post and YouGov in 2013, nearly 60 percent of American women admit to using at least one beauty product every day. Over a third of women use one or two products daily, 17 percent use three or four products daily and 7 percent use six or more products every day. In contrast, only 46 percent of men admit to using any beauty products at all, and only a stark 1 percent admit to using six or more products on a daily basis.
Research indicates that only some of the money spent on beauty products can be linked to the fact that women use multiple products each day. However, a lot of the money spent is due to the fact that women's beauty goods are priced higher than men's. On average, women spend an unnecessary $151 billion per year due to mark-ups alone. For example, a bottle of lotion with the exact same ingredients as another bottle typically carries a higher price tag if it is packaged for women rather than men.Learn more about Household Budgets