Consumer expenditure on cosmetics, perfume, and bath products has been volatile over the last years, suggesting that consumers may not be content with current products and that they are willing to try something new. Many are turning to YouTube.com for tutorials and product reviews. The website acts as a platform for promoting all lines of cosmetics, from drugstore to luxury brands.
Dove personal care products, a Unilever brand, had the tenth highest brand value worldwide in 2017, at a value of 5.9 billion U.S. dollars. The number one spot went to Johnson’s, with a value of 16.8 billion U.S. dollars. Johnson & Johnson is an American multinational company. The company owns many popular brands, including Neutrogena, and is one of the world’s largest companies.
In terms of cosmetics, brands such as Revlon, Cover Girl, Maybelline, and L’Oréal consistently rank at the top of the bestselling brand list. In 2016, Revlon’s ColorStay foundation generated nearly 58 million dollars in sales, making it the best selling foundation of the year, followed by L’Oréal True Match foundation.
Advertisers took the saying “Beauty is in the eye of the beholder” at face value in 2015. Some 16 percent of cosmetic advertising was spent on eye make-up products that year. Advertising is essential for generating hype about new cosmetic releases and revitalizing interest in classic products. In this social media age many cosmetics brands are turning to “influencers” on platforms like Youtube and Instagram to give sponsored product reviews in order to drum up interest among their followers and viewers. In 2016, Proctor and Gamble spent about 4.31 billion U.S. dollars on advertising, compared to 4.26 billion in the year before.