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Americans will spend $15G on lifetime skincare, this cosmetics retailer claims
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A skin-focused cosmetics retailer has suggested that Americans are going to spend around $15,000 in their lifetime on skincare products.
This “Skincare Report” comes straight from SkinStore.com, a leading cosmetics platform that sells premium beauty commodities.
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SkinStore claims the average American spends $322.88 on skincare per year, according to data Statista compiled from the U.S. Census and Simmons National Consumer Survey. If this estimate is correct, the projected lifetime spending of $15,000 breaks down to nearly 46.5 years of dedicated skincare shopping.
HANOVER INSURANCE GROUP
The online store, which is own by British e-commerce giant The Hut Group, cites teens and men as two demographics that have helped the skincare market grow.
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For example, global the anti-acne cosmetics market which usually attracts teen shoppers, is expected to grow to more than $4.2 billion by 2027, according to a CAGR formula and report from Grand View Research. The market was previously valued at $2.3 billion in 2020.