Home Lifestyle Why we’re spending more than $20 billion a year on beauty

Why we’re spending more than $20 billion a year on beauty

The trends that inspired one of Australia's biggest beauty platforms.

Senior Digital Journalist, Your Money

With Australians spending around $22 billion a year on makeup and skin care products, it’s safe to say we’re a nation that pays big money to look good.

Australian women alone now spend over $8 each per day on beauty products, or $3,000 a year.

According to Lauren Silvers, co-founder of Glamazon, an online marketplace for at-home beauty services, that number is going up at a rate of about 2.4 per cent each year.

“That comes with social media… everybody needs to be photo-ready at any time. There’s definitely a shift in the way that we’re moving,” Silver’s co-founder Lisa Maree told Your Money Live.

For one, there’s a now a greater expectation for both men and women to keep up appearances at events or work functions than in the past.

These changes were part of what prompted the launch of Glamazon, an app that lets you book make-up artists and hair stylists at the last minute. And they’ll come to your home.

Silvers started the service while she was working in PR because she found it hard to book hair appointments for events on the go.

Two years later, Maree came on board with her own beauty-booking business and the company evolved from a hairdresser-booking platform to a peer-to-peer beauty service.

After an appearance on Network Ten’s reality TV show Shark Tank, the two founders were able to raise more $1.2 million from investors.

They say their next target market is Asia.

Watch the full interview above with Lauren Silvers and Lisa Maree on Your Money Live.

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