After seeing this video, I’m never tossing out a cracked makeup compact again. The beauty industry is already booming, even without the help of consumers replacing makeup before it’s all gone.
On average, women over the age of 18 spend $144 annually on beauty products and that adds up quickly. In the United States alone, the cosmetic industry racks up revenue of over $50 billion each year. Worldwide, the total is roughly $426 billion.
While makeup definitely brings in its fair share of sales, it only accounts for 20% of these huge numbers. Facial skin care products top the chart with 27% share, followed by personal care products (such as shaving cream and toothpaste) at 23%, hair care products take another 20%, and fragrance comes in with the final 10%.
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