Most people would just assume that the cosmetics industry, because it is so competitive, would be among the largest spenders when it comes to product development.
Think again. A new study released by the European Commission revealed that cosmetic and toiletry companies have one of the lowest investments in product research compared to other global industries. Only the Media and Entertainments sector and Food Producers had a lower spending level.
With ads that often include phrases like “specially developed ingredients” or “unique formula” it would seem that the beauty sector would raid the laboratories on a regular basis but the actual monies spent suggest otherwise. However advertising expenditures by beauty companies are about doubt that of other industries. |