By IANS
New Delhi : A rising craze among men to use cosmetic products has boosted their expenditure by as much as 20 percent and is contributing to a greater erosion of the family budget, said a recent survey conducted by Associated Chambers of Commerce & Industry of India (Assocham).
The survey, which interviewed 5,000 consumers, said that an increase in cosmetics usage by men, as compared to women, has boosted their expenditure by 18-20 percent, increasing the monthly expenditure of the family in turn.
In comparison to less than Rs.1,000 per month in 2000, the expenditure is now more than Rs.2,500 per month in more than half of India’s families, thanks to the money spent on cosmetics, apparel and mobile phone bills.
The survey found that among more than 65 percent teenagers, branded cosmetics consumption has gone up by 30 percent in the last seven years.
Fifty-eight percent of youth said that their expenses on cosmetics had increased by 25 percent while 57 percent people in the upper middle age group claimed that their expenditure had increased by 22 percent.