Canada is the most affordable country to purchase beauty products, according to a new study, and a Toronto beauty brand co-founder says local production helps to keep prices affordable.
Prices of popular beauty products in 32 countries were collected and analyzed to determine which country was the most expensive for skincare, makeup, perfume, and haircare in a study conducted by online coupon platform Wethrift.
These products include Estée Lauder’s advanced night repair serum, Mac’s ruby woo lipstick, Chanel No.5, and Olaplex hair perfector.
Given the data of total prices of each product from the various categories recorded in the selected countries, the global price average for all products combined is $388.73.
According to the study, Canada is 33 per cent below the global average at $257.11 and has the most affordable price in perfume.
Romania and India are the next two on the leaderboard in terms of beauty affordability, both being 11 per cent below the global average.
Meanwhile, the United States comes in fourth overall as eight per cent below the global average at $355.
Thailand is the most expensive country to buy these sought-after beauty products with a price 20 per cent over the global average at $468.12, according to the study.
Canada also ranks second for being affordable in makeup and hair care, while coming in fifth for the price of skincare.
“Canada’s position as the most affordable country for beauty products can be attributed to a number of factors. Firstly, the competitive retail market in Canada drives prices down, especially for popular beauty items, as brands strive to attract consumers. Additionally, Canada’s strong supply chain efficiency and favorable trade agreements help keep import costs low, which is reflected in the retail prices,” Wethrift founder and one of the experts that led the study, Nick Drewe, told Now Toronto in an email.
Drewe also mentions that luxury beauty products like perfume vary in prices due to the cost of exotic ingredients as well as marketing costs, but the study suggests Canadians are benefitting from a price they believe is affordable enough to keep buying from.
In the past few years, many popular Canadian beauty brands have emerged from Toronto alone, such as Fable and Mane, Sahajan, and Zeyl Beauty.
“As a beauty brand founder in Toronto, I’ve found that Canadian beauty products, especially in skincare, can actually be more affordable. Local production helps reduce shipping and import costs, and with favourable exchange rates, many Canadian-made products offer better value compared to their U.S. counterparts. Additionally, the smaller but growing market allows for competitive pricing without sacrificing quality,” Zeyl Beauty cofounder Shanzey Al-Amin told Now Toronto.
The female-owned, independent skincare company was founded during COVID-19 by sisters Shanzey and Niha Al-Amin.
The brand combines Ayurvedic elements, ancient South Asian science, and scientific research to develop hydrating oils, serums, cleansers, and face masks.
Al-Amin says being a small beauty business owner in Canada has its perks because many local ingredients are available and there’s more support for homegrown brands, especially in the Toronto area.
“The smaller, but focused market also allows businesses to stay competitive without inflating prices, and government grants or tax incentives for small businesses can further ease financial pressures,” Al-Amin said.
The brand’s products start at $10 and go all the way up to $200, but prices are according to the cost of manufacturing and high-quality ingredients that people are willing to pay for, according to Al-Amin.
“Packaging is another significant cost, as I prioritize sustainable and aesthetically pleasing materials. Production costs, from manufacturing to quality testing, also play a role. Additionally, I consider shipping and logistics, especially for ensuring the products reach customers quickly and safely. Lastly, marketing and operational expenses are factored in to ensure the brand’s growth while keeping prices fair for consumers,” Al-Amin said.
