Holding up a mirror to the economy

Money may not buy happiness but, when it comes to the beauty enhancement department, it sure can help. In China, it appears that as the GDP grows, so does the appetite for cosmetics.

Reportlinker, a company that provides industry reports, company profiles and market statistics published by private and public organizations, recently released the China Cosmetics Industry Report 2013-16, which tracks how the health of the economy is reflected in beauty consumer trends.

The growth of China's cosmetics industry, which includes skin care, makeup, perfume, men's cosmetics and babycare products, has been stunted because of the combined effects of the global economic turmoil and the slowdown in China's economic growth, with gross retail sales at $21.94 billion, according to the report.