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Why Does the Price of Beauty Keep Rising?

by Lisa Schweitzer (Subscribe to Lisa Schweitzer's posts)
Posted Aug 23rd 2010 at 2:10PM  
15 Comments
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Photo: Hulton Archive, Getty Images

Remember when Crème de la Mer was considered the utmost in luxury skincare at $130 for an ounce of the miracle-working moisturizer?

Then RéVive knocked our socks off with their $165 Moisturizing Renewal Cream in 1997, and prices kept creeping up from there.

Now, you might think that beauty prices would drop to echo the dismal economy, but recent launches make last decade's pricey products look like deals.

Enter the $650 La Prairie facial serum, the $45 Tom Ford lipstick and the $10,000 fragrance by L'Artisan Parfumeur.

There's been a glut of super expensive beauty products on the market lately, including Dr. Perricone's Private Reserve Serum, which debuted on QVC for $475 earlier this summer with promises to deliver "extraordinary, never-before-seen results from a skin care product."

Despite its exorbitant price tag, the product is sold out on the shopping channel's website, and is currently causing a fury in London, where a very small supply will be made available in the coming weeks.

This posh beauty trend is also underscored by recent upscale lip balm launches, plus reports that pricier foundation has eclipsed lipstick as the most-purchased beauty product in recessionary times.

Looks like the beauty industry isn't viewing the economic downturn as a challenge, but rather as an unprecedented opportunity.

We have theories as to why: When people stop buying big ticket items like houses and cars, they fulfill their shopping urges with smaller, often impractical purchases.

New research shows that women are wearing less makeup across the board, whether due to a trend in natural-looking application or the fact that people who are out of work have less reason to pile on cosmetics. Perhaps, if we're buying fewer products, we're more likely to choose better or more expensive items -- sort of a quality over quantity approach.

But does anyone need perfume that costs as much as a small car?

Clearly the answer is no, but a truly fabulous $45 lipstick can be justified when you really need a pick-me-up and you're forgoing most of your other major expenses.
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Filed under: Beauty, News, Makeup, Skin & Body
Tags: Crème de la Mer, CrèmeDeLaMer, Dr. Perricone Private Reserve Serum, Dr.PerriconePrivateReserveSerum, expensive cosmetics, healthy beautiful you, HealthyBeautifulYou, lartisan parfumeur, LartisanParfumeur, makeup sales, perricone MD, PerriconeMd, Tom Ford, TomFord
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READER COMMENTS

(15)Add A Comment

artsychick, 8-24-2010, 3:00PM

2.5 stars vote downvote upReport
artsychick

This is a reflection of a new economic reality- plutonomy. The rich are getting richer, therefore, status symbols need to become more expensive to remain exclusive. That exclusivity is what divides the extremely wealthy conspicuous consumer from the merely wealthy. It is the rich that power our economy with their spending- not the struggling and dwindling middle class.

Reply »

lee, 8-24-2010, 3:16PM

2 stars vote downvote upReport
lee

Spending 45 dollars on lipstick as a "pick me up", can never be justified. Seriously.

Reply »

glenn, 8-24-2010, 3:23PM

2 stars vote downvote upReport
glenn

Anyone that would pay the prices mentioned in this article have more money than brains and are desperate to regain their youth ....HOW SAD

Reply »

Dick, 8-24-2010, 3:37PM

2 stars vote downvote upReport
Dick

Why does the cost of beauty keep rising? Because women can be fooled into buying anything...PERIOD! True beauty costs NOTHING! It's God's gift!

Reply »

Tommi, 8-27-2010, 4:12PM

2 stars vote downvote upReport
Tommi

Not all of us women will buy anything. Some of us are actually smart and don't fall for gimmicks. Those women who do are simply fooling themselves into thinking that the product they are buying is a miracle product thanks to advertising. Those same products can be found for a lot less, most of which by a company that only charges $1.00-$5.00 per item. If those women were smart and thrifty then they would do their research before spending $45.00 on a lipstick that will only be out of style in a couple of months.

»

Beverly, 8-24-2010, 4:17PM

2 stars vote downvote upReport
Beverly

There could be a flood of anything on the market but that doesn't mean people are going to spend their money to get it. Most people I know are not going to the hair dresser half as much as they use to and when they do they don't get their hair colored and highlighted, they do that at home. As the economy worsens people are getting more practical and using their brains when it comes to what is important to purchase and beauty supplies would be low on the list. Maybe it takes hard time to be able to appreciate what we already have and what is really important.

Reply »

xxswirlypops, 8-24-2010, 4:42PM

2 stars vote downvote upReport
xxswirlypops

HA, obviously not working much. You can be a smart shopper by learning what ingredients do, some good ingredients are used by both high-end and cheaper brands.

Reply »

Lara, 8-24-2010, 5:12PM

2 stars vote downvote upReport
Lara

The products being sold as luxury items, be they cosmetics, skin care, purses, shoes, jewelry, etc. must continually raise their prices in order to maintain the interest of status seekers. Since those status seekers will continue to by those items, the prices will continue to rise. The marketing campaigns behind these products is nothing short of fascinating!

Reply »

John F.C. Taylor, 8-24-2010, 5:15PM

2 stars vote downvote upReport
John F.C. Taylor

Why does the price of beauty keep rising? The answer to that is simple. We've all been indoctrinated to believe that a "name" and a high price means better quality and better results. In most cases, it isn't.

Reply »

jn, 8-24-2010, 5:35PM

2 stars vote downvote upReport
jn


If you read the entire story about Creme de la mer,, it is a miracle cream. I know people who would starve before going without it, yet I think the price is exhorbitant, Since the secret has now been discovered, I can't see what justifies this price.
Now, a party, a big date, any type of important get together, even a funeral, then I can see $45 for a good lipstick. When applied correctly, the color will be perfect, it will stay put even after a dozen cheek kisses and just look beautiful. $10k for perfume! Somebody saw a sucker coming.

Reply »

Marcie, 8-24-2010, 5:45PM

2 stars vote downvote upReport
Marcie

Women are using less cosmetics, overall.

Reply »

Cynthia J, 8-24-2010, 6:05PM

2 stars vote downvote upReport
Cynthia J

Well, when women wake-up and discover aging is normal, and quit trying to look 30 when you're 50 maybe things will change. I have so many friends who have had countless "procedures" to try and look younger. They don't look younger. They look like freaks. L.A. is a prime example of women looking freaky. You don't k now what age they are but you know they look bizarre. Some examples: Heather Locklear Melanie Griffin, Barry Manilow, Janis Dickerson, Kirk Douglas, Cher (frightening, Meg Ryan (the lips are freaky), Mickey Roarke, etc..

I had a facelift, browlift, eye job, chemical peel, the whole works, in 2007. It hurt like hell, but I'm happy with the results. By the way, I'll be 61 in September. What I didn't have was botox and other fattening shots (lip pump). I'm done. I think it's the fillers and Botox that makes people look so strange.

Reply »

Lassie, 8-24-2010, 6:31PM

2 stars vote downvote upReport
Lassie

There's

one

born

every

minute.

Unbelievable. When there is so much want, so much NEED in the world, and somehow these companies are finding, and selling to, SUCKERS.

Reply »

theresa, 8-24-2010, 7:16PM

2 stars vote downvote upReport
theresa

The price of beauty keeps rising b/c WE, as women, are gullible into believing all this crap works. Here's a few things the plastic surgeons and the cosmedic industries don't tell you:
1) Pray for great genes
2) Stay out of the sun
3) eat well and exersize regularly
4) wash your face daily, especially at night
5) no amount of money is gonna stop the aging process.
After recently spending $1800 to erase labial folds and lip lines; the Dr., on my follow-up treatment, THEN tells me that injectables DO NOT erase any lines. They just "soften" and "plump" the lines. Hence, the money I threw down and away to "erase" lines are only slightly "softened". The look I was going for could only be achieved through plastic surgery. Thanks Doc, wish I knew that $1801 ago. Bottom line Ladies: follow #s 1-4 and stop hating yourself. You're beautiful. You just don't know it.

Reply »

Oren Mavro, 8-24-2010, 8:39PM

2 stars vote downvote upReport
Oren Mavro

Well said, Theresa.

Also I find it funny that women do all of this to impress other women, who drill it into them--but are also influenced by other women.

Its an endless cycle and there usually is only a handful of men involved in this superficial chain, and typically those persnickety pansies aren't worth all the money and effort anyway are they, ladies?

Most guys--real guys, don't care about 89% of this stuff 89% of the time. Don't get me wrong, we're not into the barefoot-in-the-kitchen or just-came-from-the-gym-dont-wanna/care-to-change stuff that's going around...we're just not all that shallow.

But I wonder if that even really matters, anymore. It has become an eeriley (and subtly so) misandristic society. Men are always wrong/pigs/stupid/screw-ups and we're to blame for all the worlds' ills and apparently its solely to do with not having that extra chromosome and not being huMAN..

which we all should strive to be. not mannequins.

»

 
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