![]() ![]() Or she may find it smells delightful and tallies up a point for it. She may open the lid of one product, sniff it and put it back. Despite this, she’s standing here in this aisle neither purchasing nor walking away. ![]() She has plenty of makeup, she has numerous bottles of shampoo and conditioners she either rotates or has simply tried and left behind. Like many other people, she isn’t necessarily there to purchase a specific product. What brings a customer into a store? Are they there on a mission or are they simply browsing? Picture this scenario:Ī woman walks into a store and makes a beeline for the cosmetics/beauty aisle. This incredible level of diversity when creating product lines is what allows for the huge supply and demand to equal out. That doesn’t even account for brands that succeed off of lifestyle/aesthetic marketing. There is an almost infinite combination of smells, consistencies/textures, and price points available for most businesses to cater to innumerable demographics and utilities. The reasons for this are simple, consider the aspects of cosmetic or beauty products. ![]() This means that despite the enormous range of brands and price points available to consumers, there is an equal demand for new and existing products. This industry is an absolute financial behemoth as was demonstrated by the stats above.Īn interesting fact about the beauty industry is that the immense product availability and variety are actually balanced by the demand. There are even more product niches under the umbrella of the cosmetics/beauty industry. What we will refer to as the beauty industry is the category of products that encompasses all manner of grooming products such as makeup, hair care, styling, fragrances/deodorants, and color cosmetics. The cosmetics industry is unique because it is just as possible for a small business owner to make a product and penetrate the market with it as it is for an established industry giant to do so as well. Think that’s a lot? The skin care products market will reach $150 billion by 2023, wow! Clearly, there is a huge pie that many businesses have an opportunity to take a slice of. That equates to about $4.98 billion in 2015 to $5.76 billion with the expected market size in 2023 will reach $7 billion. In order to qualify for the PPP loan amount received, Pinpoint Permanent Cosmetics' 2019 payroll expenses are estimated to be at least $121,411.According to a report published by Orbis, the cosmetic products market size will maintain its average annual growth rate of 4.97%. Please Note: Information on estimated payroll and compensation based on PPP rules is provided for informational purposes only.īased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above).
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