Research Shows Australians Spend $22B Each Year To Look Good

beauty products soldAustralians spend $22 billion each year on beauty products and services, while those in Queensland spend more than other people elsewhere in the country, according to research.

Financial comparison site’s analysis showed that annual per-capita spending in Queensland reaches almost $990, which significantly contrasts the average spending in Tasmania’s $451.

Booming Business

While spending more might not always be a guarantee of better appearance, this will not stop many Australians from going to a salon. Women, in particular, tend to be a major market for businesses such as hair and makeup shops, which is why embarking on business seems profitable due to billions that they spend each year.

Those that plan to open a hair salon should first consider the legal aspects of pursuing such enterprise. You will need an Australian Business Number for this, aside from procuring equipment and materials such as barbering scissors, chairs and hair care supplies.

Your employees should also hold a Certificate III in Hairdressing to reflect their skills and assure clients that your staff is competent.

Quality over Quantity

Mozo Director Kirsty Lamont said that the figures indicated that many Australians’ budget for beauty surpasses their spending on household energy.

The huge amount of money spent on cosmetic products and services shed light if Australians have better skin. It turns out that spending more does not always equate to healthier complexion.

For instance, demand for specialist acne treatment in 2016 surged 200 per cent among adult Australians based on a study of 92 dermatology clinics. This implied that money alone is not enough to solve some beauty concerns.

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Do you plan to open a salon or beauty business this year? Before doing so, make sure that you understand your target to take full advantage of Australians’ huge spending on products and services.