True Cost of Beauty: Survey Reveals Where Americans Spend Most
As the summer months are the best time to capitalize on beauty treatments and services—previous survey findings state that 4 in 10 people experience a confidence boost in warmer weather—OnePoll, on behalf of Groupon, has recently released results from a timely-commissioned survey (titled The True Cost of Beauty) disclosing how Americans routinely spend money on their appearance.
And although these survey results are coming out in tandem with the summertime (released about five weeks ago), they reflect the habits of 2,000 American men and women year-round. In fact—and surprisingly—women who invest regularly in their appearance spend an average of $3,756 a year, just narrowly surpassing their male counterparts who spend a comparative $2,928 a year. Respectively, that’s $225,360 and $175,000 in a lifetime!
By the Numbers
These dollar amounts seem awfully high, right? But when you take into account the vast array of products/services that play into the true cost of beauty, you might think twice. When broken down by gender, women spend the most on services such as facials, haircuts, makeup, manicures, and pedicures, whereas men spend the most on products like facial moisturizers, gym memberships, hand cream, shaving products, and supplements. That’s not all. According to the survey, more than 25% of this total spend is on the face alone; of the $313 monthly spend by women, $91 of that is spent on the following products, broken down by price:
- Makeup – $28
- Haircuts – $34
- Moisturizing skincare – $23
- Anti-aging products – $17
- Hair products – $15
- Hair removal – $11
The amount women spend on the face alone is nearly twice the amount men spend—a mere $51 average per month—a gap likely driven by makeup purchases. And despite the youthfulness of women in their 20s, they tend to spend more on makeup than any other age group, whereas women in their 30s spend most on facial moisturizers and anti-aging products.
Women aren’t the only big spenders when it comes to maintaining a well-groomed appearance. The survey also found that fitness fanatics spend around $106 per month on gym memberships, classes, supplements, and apps, with men averaging a higher spend than women. Based on the reported top concerns for both sexes, it’s safe to assume that this $106 monthly spend on fitness is directly correlated to the number one concern reported by both men and women: weight.
These lifetime figures show a remarkable spend by both men and women—at all ages—toward maintaining their appearance. What does that mean for you? Now is the best time to offer your beauty, salon, and fitness services to an ever-growing marketplace of consumers. And with Groupon’s new on-demand beauty booking service—aptly called BeautyNow—booking and paying for appointments is easier than ever before, allowing for a seamless, convenient experience for your customers.
“Summer is the most popular season to take full advantage of the quality and affordable beauty treatments and services available to help you look and feel your best,” says Silvija Martincevic, Groupon’s Vice President of Health, Beauty and Wellness, in a recent article published by Business Wire. “Whether it’s a trip to the beach, a wedding or a family vacation, Groupon makes it easy for you to get the most out of your warm weather adventures.”
Want to know the true cost of beauty? Check out the full survey results in the infographic below to see how you can take advantage of the ways in which Americans are spending on their appearance. Create a Groupon campaign today to reach a massive audience of Groupon customers and boost your overall online exposure!
About the Author:
Chelsea Haynes is the Merchant Marketing Specialist at Groupon, based in Chicago, Illinois.
Any views, opinions, advice, or endorsements herein are the author’s and are not necessarily the views of Groupon or its partners.