Groupon Inc (NASDAQ:GRPN) has reported that people in the US spend almost a quarter of a million on their appearances in their lifetimes according to a survey.
The company kicked off the summer by carrying out a survey in which it asked 2,000 people in the US about the amount of cash they spend regularly to improve their appearances. The women who participated in the survey stated that they usually spend an average of $3,756 a year on their appearances. This is equivalent to $313 per month, which adds up to about $225,360 from 18 to 78 years old. Their male counterparts spend slightly less with their averages adding up to $244 per month, $2,928 annually and $175,680 throughout their lives.
“Summer is the most popular season to take full advantage of all of the quality and affordable beauty treatments and services available to help you look and feel your best. Whether it’s a trip to the beach, a wedding or a family vacation, Groupon makes it easy for you to get the most out of your warm weather adventures––and to look great in selfies,” stated Silvija Martincevic, Groupon’s VP and general manager of health.
Groupon promoting its products through its summer Pop Up Party collection
Groupon conducted the study as part of recognizing its summer Pop Up Party beauty collection which will come to its conclusion on June 23. The firm is one of the largest e-commerce market places that deals with spas and beauty salons in the U.S. The company commissioned research firm OnePoll to carry out the survey. The findings indicate that women spend roughly twice as much as men when it comes to grooming their faces. The huge gap is due to the amount of makeup that women purchase.
According to the survey, people in their 20s spend more on makeup than their older counterparts. People in their 30s spend more on anti-aging products and moisturizers than those in their 40s, 50s and 60s. Most of the participants stated that they become more content with their appearance the older they get.
Groupon stock closed the latest trading session on Wednesday at $3.12.