Data analysis: ingredients of skincare products not predictive of product price
<p>The skincare industry is extremely profitable — the global market for cosmetic skincare in 2020 was estimated at 145.3 billion USD.</p>
<p>However, how skincare companies price their products seems to be a closely-guarded secret. For example, a 16-ounce tub of <em>La Mer </em>cream is priced at 2,475 USD on the <em>La Mer </em>official website, while the much-cheaper <em>Nivea Creme </em>moisturizer has a nearly identical ingredient list. <em>The Ordinary </em>is another brand that has become hugely popular for its affordable skincare products and no-frills ingredients. <em>The Ordinary </em>is able to keep costs down by minimizing marketing spending compared to other skincare companies, and only using ingredients that have been shown to be effective (e.g., retinoid and vitamin C). This begs the question — <strong>when you buy a skincare product, are you paying for brand and marketing costs, or for the ingredients and formulations?</strong></p>
<p><a href="https://towardsdatascience.com/data-analysis-ingredients-of-skincare-products-not-found-to-affect-product-price-c3593d123a4d"><strong>Read More</strong></a></p>