I was walking home the other day listening to a song by passenger with the lyrics "Ain't it funny how the kids walk by they’ll do anything to make themselves look older. While the women spend their money on anything that makes them look young".
When I arrived home I did a little research on the topic and there were hundreds of articles and posts about the subject, this one in particular was very interesting: http://www.mint.com/blog/consumer-iq/splurge-vs-save-which-beauty-products-are-worth-the-extra-cost-0413/?display=wide
The beauty industry itself is worth nearly 400 billion US$ with 85% of it being female consumer based. But it's not just the amount that's spent it's how inelastic certain products are. Because quality is a key factor to these products, cheaper versions aren't necessarily more appealing (pardon the pun). Therefore, if the industry were to raise their product prices it isn't likely to affect the consumption of their goods. In terms of consumer surplus, it will still remain high even if prices rise.
For the older generations anti-ageing products is a big market. Such products as anti-wrinkle creams and serums to nourishing hand lotion are expensive. Some top brands charge well over £100 for a 30ml tub of cream which shows how good advertisement really is and how any sort of biased statistic or well memorised phrase from a good-looking celebrity in a photo-shopped television advert can grasp a woman's mind (and money).
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