Brits spend £6.4 billion a year on cosmetics

Despite the cost-of-living crisis causing many of us to change our spending habits, Brits are continuing to spend billions on small luxuries such as cosmetics.

Brits spend £6.4 billion per year on cosmetics, with London and the South East indulging the most, according to a study by price comparison site Idealo.

The ‘lipstick effect’ describes how, during times of financial crisis, we tend to spend more money on small luxuries – like high-end lipsticks – to bring us comfort. 

While investigating this effect, Idealo noted that demand for lipsticks has risen by a huge 1,006% since the cost-of-living crisis started in the UK. 

In light of this, Idealo used ONS data to look into Brits’ spending habits and predict future patterns. 

The UK’s average spend of £6.4 billion per year on cosmetics is actually 7% less than in 2020, when spending hit £6.9 billion – perhaps due to the pandemic leading people to find joy in small indulgences while stuck at home.

Londoners are currently spending the most on beauty products (£983.6 million per year), followed by households in the South East (£892 million) and the West Midlands (£653.5 million). 

Meanwhile, Northern Ireland spends the least on cosmetics at just £171.9 million per year on average.

The top 10 UK regions spending the most on cosmetics:

Analysing internal data for product demand, Idealo has also revealed that interest for lipsticks has risen by a huge 1,006% since September 2021. 

Other beauty products have also seen an increase in interest from consumers with demand for lip gloss increasing by 1,154%, mascara by 1,229%, and lip liner by a staggering 1,667%.

Based on current spending patterns, the UK is predicted to spend 11% (£716.8 million) less on cosmetics by 2030. 

However, some regions of the country are actually set to increase their spending on beauty products, with the West Midlands predicted to spend an additional £260 million on cosmetics by 2030, an increase of 40%. 

Those in the South East, Yorkshire, South West and East of the country are also expected to increase their spending.

The top 5 regions where spending on cosmetics is set to increase by 2030:

Have you noticed clients spending more on cosmetics? Let us know in the comments...

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