Payment Services for Your Online Beauty Supply Shop

Jan 19, 2018

Are you starting an online beauty supply store or you already own one? This is a growing industry and is expected to further grow. The US cosmetic and beauty supply stores industry is expected to account for $19.509 million by 2024.

Beauty Supply Industry in the US

Skincare, hair care, makeup, perfumes, toiletries, and deodorants, and oral cosmetics represent the main product categories of the cosmetic market. In 2016, the US was the world’s most valuable beauty and personal care market. It generated nearly 84 billion US dollars in revenue in 2016.

Foundation proved to be the most lucrative segment. In 2016, the sales of foundations in the US generate approximately 985 million US dollars. Next, came mascara, accounting for sales revenue of 941.5 million US dollars. Mascara also was the top segment of the eye cosmetic industry in the US.

However, foundation and mascara weren’t the only profitable segments; lipstick was also a lucrative segment within the cosmetic industry in the US and generated 626.8 million US dollars in revenue for the lip cosmetics category.

Payment Processing for Your Online Beauty Supply Shop

The share of online health and personal care sales as a percentage of total retail eCommerce sales is expected to represent 9% in 2021. In 2016, the percentage was 7.8%.

With eCommerce now playing a major role in the US cosmetics industry, it’s important for merchants in the field to open an online beauty supply store. It’s critical to find a reputable payment processor to work with so to enjoy reliable and affordable payment processing. Consider turning to emerchantbroker.com, the #1 high risk payment processor in the US, to get the lowest possible rates and exceptional terms for a beauty supply merchant account.

Emerchantbroker.com boasts an A+ rating with the BBB and an A rating with Card Payment Options, and is named one of Inc. 500’s Fastest Growing Companies of 2016. EMB talks to every single business to get to know their ins and outs so to provide merchant account services geared to their specific business wants and needs.

Over the past 5 years, the revenue for the beauty, cosmetics and fragrance stores industry has increased driven by the expansive product selections and skilled staff. Per capita disposable income is anticipated to further rise and the industry revenue similarly go upward in the upcoming 5 years.

Let us help you get a high risk merchant account today!

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