In spite of the beauty market’sdownturn, the U.S. may still be one of the best countries for buying beauty, a new study shows.
In a report from Cosmetify titled “The Cost of Beauty Around the World,” the U.S. was ranked second on the list of most affordable countries for beauty. The report, which was assembled by comparing online beauty prices for 50 countries, tracked five products deemed “iconic” by the data provider, such as Chanel No. 5, MAC Cosmetics Retro Matte Lipstick, Estée Lauder Double-Wear Stay-in-Place Makeup SPF10, Anastasia Beverly Hills Dipbrow Pomade and Nars Sheer Glow Foundation. The provider then converted prices to GBP.
The least expensive markets for beauty were Canada, the U.S., Turkey, Mexico and Malaysia. The spend on the five products in each is 197.74 pounds, 201.67 pounds, 214.43 pounds, 216.90 pounds and 217.94 pounds, respectively.
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By contrast, the priciest market was China, where the total cost of the products came in at 316.34 pounds. The other four most expensive markets were Thailand at 300.68 pounds, Taiwan at 290.26 pounds, the United Arab Emirates at 267.54 pounds and Denmark at 261.07 pounds.
The report further breaks out the prices of each product per country. Chanel No. 5 Eau de Parfum is cheapest in Canada, where it costs 100.92 pounds, and most expensive in China, where it costs 174.34 pounds. MAC Cosmetics Retro Matte Lipstick is the least expensive in Turkey at 11.18 pounds, whereas its highest price point is 22.12 pounds in Thailand. Estée Lauder Double Wear Stay-in-Place Makeup SPF10 is most affordable in Canada at 30.51 pounds, as compared to the 52.70 pounds it is sold for in Taiwan. Anastasia Beverly Hills‘ Dipbrow Pomade is at its cheapest in Mexico and the U.S. at 16 pounds, in contrast to 24.27 pounds in the Netherlands. Nars Sheer Glow Foundation’s lowest price is in Malaysia at 33.31 pounds, and it’s most costly in China at 56.20 pounds.
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As an enthusiast deeply immersed in the world of beauty and cosmetics, I can confidently analyze and interpret the intriguing findings presented in the article about the cost of beauty around the world. My extensive knowledge in the beauty industry, along with a keen interest in market trends, positions me to provide insights that go beyond the surface.
The study, conducted by Cosmetify, sheds light on the unexpected resilience of the U.S. beauty market despite an overall downturn in the industry. Now, let's dissect the key concepts and information presented in the article:
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Study Overview:
- The study, titled "The Cost of Beauty Around the World," ranks countries based on the affordability of beauty products.
- Cosmetify assembled the report by comparing online prices for five "iconic" beauty products across 50 countries.
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Rankings:
- The United States secures the second position among the most affordable countries for beauty.
- The least expensive markets for beauty, in order, are Canada, the U.S., Turkey, Mexico, and Malaysia.
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Product Selection:
- The study tracked five products considered "iconic" by the data provider: Chanel No. 5, MAC Cosmetics Retro Matte Lipstick, Estée Lauder Double-Wear Stay-in-Place Makeup SPF10, Anastasia Beverly Hills Dipbrow Pomade, and Nars Sheer Glow Foundation.
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Price Breakdown:
- Prices were converted to GBP for comparison purposes.
- The total cost for the five products in the U.S. is 201.67 pounds.
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Global Contrasts:
- China emerges as the priciest market, with a total cost of 316.34 pounds for the five products.
- Other expensive markets include Thailand, Taiwan, the United Arab Emirates, and Denmark.
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Product-Specific Pricing:
- Each product's price varies significantly across countries.
- For instance, Chanel No. 5 Eau de Parfum is cheapest in Canada and most expensive in China.
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Regional Disparities:
- The report breaks down the prices for each product in different countries, revealing disparities in affordability.
- The least expensive country for a specific product may differ from the most expensive.
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Market Dynamics:
- The findings suggest that economic factors, consumer preferences, and market dynamics contribute to the varying prices of beauty products globally.
In conclusion, this study underscores the dynamic nature of the beauty market and how pricing strategies adapt to diverse economic landscapes. As an avid follower of beauty trends and market dynamics, I find this analysis to be a valuable resource for understanding the global nuances of the beauty industry.
