CONSUMER ALERT 💄 Why is the price of cosmetics going up? News 12's consumer reporter jlieberman_n12 tells us in TheRealDeal. Watch the full report -
The price for almost everything from basic necessities to luxury items are soaring. And some of your must have beauty products are not immune to cost hikes.At Biogenesis, where at least 30 brands of lotions, potions and beauty products are made, the pandemic has made prices on products not so pretty.
Biogenesis owner Ann Rabbani says that ingredients have gone up between 20-30%, and in some instances 40%, depending on where they come from. Rabbani says that a $20 jar of cream will cost you anywhere between $22 to $25, and she doesn't see the price dropping anytime soon. Shipping costs are up, fuel is sky-high and the minimum wage has increased by 30%. Even after those costs are met, getting product shipped and received is unreliable at best. And since the pandemic more shoppers are buying online.
Even with an increase, most women will keep paying. Women can expect to spend $15,000 on cosmetics in their lifetime.
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