12.07.22
According to a Debt.com survey, 37% of respondents report buying more cosmetics than ever before. And despite inflation, one-third said they haven’t changed how they shop for cosmetics, according to the provider of debt solutions. In fact, 62% of respondents agreed that “lipstick products are an affordable way to treat [themselves] in times of high inflation.” The survey also found that people with credit card debt, as well as those spending the most monthly on cosmetics, were most likely to agree with this statement.
Other survey results include:
• 73% plan to give cosmetics this holiday season to friends and family
• Half of respondents had no plans to slow down on holiday spending
• Nearly two in five plan to spend over $300 on beauty products
This is good for the beauty business, of course. But for Debt.com, there is reason for concern.
"Credit card debt is rising, and Americans are carrying $887 billion of it. Now is not the time to get into holiday debt," said Vicki Gunvalson, spokesperson for Debt.com and former Real Housewife of Orange County star.
"With 40% planning to finance makeup and beauty products for holiday gifts using either "buy now, pay later" or credit cards, they are creating debt that will follow them into the new year,” said Gunvalson.
Other survey results include:
• 73% plan to give cosmetics this holiday season to friends and family
• Half of respondents had no plans to slow down on holiday spending
• Nearly two in five plan to spend over $300 on beauty products
This is good for the beauty business, of course. But for Debt.com, there is reason for concern.
"Credit card debt is rising, and Americans are carrying $887 billion of it. Now is not the time to get into holiday debt," said Vicki Gunvalson, spokesperson for Debt.com and former Real Housewife of Orange County star.
"With 40% planning to finance makeup and beauty products for holiday gifts using either "buy now, pay later" or credit cards, they are creating debt that will follow them into the new year,” said Gunvalson.