Could it really be true? A new survey says that men out-spend women when it comes to skincare and cosmetics.
If you think the other girls working in your salon just jump out of bed looking as good as they do, think again. The latest figures from Suncorp’s Cost of Looking Good report states that Australians are spending $8 billion a month on, well, looking good.
Yes, you read correctly, $8 billion. Every month. And it’s good news for the beauty industry because amongst the clothing, shoe and accessory purchases, Aussie men and women are forking out $811 million on haircare, $729 million on skincare, and $193 million on cosmetic enhancements.
Salons in Victoria can feel smug, as the southern state was the top money spender at $707 each a month. NSW came in at number two, spending $669 per month, while South Australia and Western Australia weren’t far behind, spending $618 and $616 a month respectively. Queenslanders are more thrifty, spending nearly half at $353 each month.
If you want to get into the psyche of your clients, well, it might be tricky as the reasons for spending was varied. But you can bet that it was one of the following: 52 per cent claimed they spent the money on themselves, 53 per cent said it was for a partner, and 42 per cent coughed up to help with their career.
Interestingly the biggest growth area of spending is male grooming – an area which salon owners should start taking serious note of.
“Nearly half of men indicated they had purchased skincare products in the past month and more than a quarter confessed to having bought makeup,” says Suncorp regional manager Monique Reynolds. “They also outspent women in these products by 74 per cent ($125 to $72) and 50 per cent ($173 to $116) respectively.”
It’s not only cash that Australian men and women are spending, but also time. The report found that a substantial amount of time is spent on shopping for fashion and grooming products – and also on actually getting ready to face the world each day. In fact, the average person spent 1 hour and twenty minutes in front of the mirror – and that’s not taking into account the 44 minutes they spent on professional grooming, nor the hour a month they spent shopping for fashion and grooming products.
Looking good!
Have your say: Have you noticed a rise in men coming into the salon?