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Makeup has long been an essential part of many women's lives, enhancing their physical appearance and allowing them to distinguish themselves from others.
The passion for looking good persuades American consumers to invest heavily in high-end makeup products, driving the beauty industry to a staggering market value of $91.41 billion in the U.S.
Several factors contribute to the rapid sales increase of beauty products.
Firstly, despite the increasing inflation, consumers are willing to spend on makeup, with an average expenditure of $110 on beauty products.
Secondly, makeup vendors earn substantial profits from these products. Recently, the beauty industry boasted a profit margin of 58.14%.
These vendors offer various beauty products, including eyeliners, mascaras, foundations, lipsticks, lip glosses, lip balms, face powders, and nail polishes.
Given this context, your business can gain a competitive edge over other cosmetics vendors.
A key strategy to achieve this is procuring makeup products from reputable wholesale vendors who provide you with high-quality inventory at competitive prices.
Consider the following factors to find the most suitable wholesale makeup vendors for your business needs.
Ensure that your wholesale vendor offers high-quality makeup products. The ingredients should be derived from materials that are harmless to consumers' skin health.
To ascertain their quality, you can request a sample of the makeup products before making a bulk purchase. Only buy these products if they comply with the regulations set by the U.S. Food and Drug Administration.
Although 71% of consumers are willing to experiment with new beauty products, brand value remains a significant factor for makeup buyers. Stocking products from renowned brands could potentially boost your sales and revenue.
This is because these brands have an established customer base., According to a recent study, their sales range from $7 billion to $40.3 billion. Therefore, you won't need to invest heavily in marketing efforts to sell these products.
By sourcing wholesale products from reputable makeup wholesalers who offer makeup products from well-known brands, you can drive your business toward success.
It's crucial to verify the business certification issued by state authorities to ensure the legitimacy of a makeup wholesaler. For example, if you are buying from a wholesaler in California, confirm that the wholesaler holds a seller’s permit and other licenses certified by the California Department of Tax and Fee Administration.
Keeping pace with the latest trends in the makeup industry can help you procure products that align with customer demands.
As concerns for skin health intensify, makeup consumers are showing a preference for products made from non-toxic ingredients. Manufacturers label such products as "clean". These typically exclude ingredients like parabens, phthalates, and sulfates.
Sales for these products have surged since 2021. As a result, the clean beauty market is expected to reach $14.36 billion by 2024, growing at a CAGR of 12%.
Sustainability is a key factor for 64% of makeup consumers. They prefer products made from organic ingredients sourced from nature, including olive oil, fruits, vegetables, and wood. The global market for the organic beauty industry is flourishing and is expected to reach $22 billion by 2024.
Consumers are also mindful of the sustainability of beauty product packaging. They prefer eco-friendly packaging, prompting brands to use recyclable materials and explore alternatives to oil-based plastics.