The largest open market for cosmetics and makeup at cheaper rates is in the United States. Japan offers the second largest market for discount makeup services and cosmetics in the world. It is estimated that in US $1.4 trillion is spent on makeup and cosmetics per year. This results in an enormous turnover in the cosmetics industry. According to Eurostaf (May, 2007), the world’s cosmetic industries made a yearly profit of US $170 billion.
This estimate is for the United States alone. Europe is thought to lead the open market by producing profits of around €63 billion per year. Such a turnover does not mean that cosmetics are set to spike. On the contrary, such profits are obtained through the availability of discount makeup products and services, made accessible to the general public on the open market. Even perfume has a big profit margin, particularly in France, where sales have set new records in the range of €6.5 billion.
Nowadays, investing in cosmetics is not considered a high-risk venture and almost guarantees a profit to the investor. Some countries offer their discount makeup products and services at both national and international level. For instance, there is a great demand all over the world for makeup manufactured in France. As a result, there has been an increase in makeup production in this country. It should be kept in mind, however, that professionals in the cosmetic industry, like makeup artists, play a very important role in attracting consumers by offering their services at low and affordable prices.
At the moment, the open market follows two routes. The first is based on the industrial production of makeup, undertaken by large-scale investors and industrialists. The second focuses on interacting with the general public in order to get them to purchase certain types of products. This second route involves hiring experts in the cosmetics field who then offer discount makeup services to consumers. This also enables companies to market specific makeup brands through the hired experts. The experts thus act as brand ambassadors, promoting a particular brand of cosmetics to the public.
There are various legalities involved in the production and sale of cosmetics. Such laws bind manufacturers and marketers to produce and advertise in a truthful and ethical manner. In the United States, such laws are formulated and implemented by the FDA, and in Europe by the European Commission. The laws pertain to the safety and distribution of cosmetic products and serves to regulate the quality of discount makeup.
The internet, of course, revolutionized the cosmetic industry. There is an evident shift toward online marketing and sale of makeup services and products. This has further developed and advanced the cosmetic industry. All well-known cosmetic companies now have their own web sites where they offer information about their products, effectively marketing themselves to whoever has access to the internet.
The internet has thus made it possible for companies to reach a wider audience, promoting their brand to people from countries all over the world. It is sometimes even possible to speak to or consult beauty advisers online, removing the need for representatives of a brand to be physically present in a country or city.
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