King Kylie on the Rise

Jenna Anderson

Mr. Reuter

Economics

18 April 2017

King Kylie on the Rise

The makeup industry is growing at a rapid speed, with the US being the single-handed largest buyer of beauty products in the world. It is estimated that we spent over $62 billion on cosmetics and beauty related services in 2016(Bates). There is such a high demand for these products because people want to achieve the look of chiseled cheek bones, full lips, and long lashes. There is a lot of buzz over these products due to YouTube videos and online reviews of the products. The one brand that is growing quickly currently is Kylie Cosmetics by Kylie Jenner.

In spring of 2014, tragedy struck America when Kylie Jenner lip injection rumors spread like a wildfire. From these came infinite lip plumping products, the Kylie Jenner lip challenge, and a multi-million dollar company called Kylie Cosmetics, which sells one of the most popular lip kits ever. The lip kits include a lipstick and lip liner, and come in over 30 different shades, and Jenner also releases limited edition shades for holidays and family members. The demand for Kylie’s lipsticks started because she claimed she never had lip injections, she just used good lipstick. Although this was a lie, her products have withstood all of the tests and tend to be very high quality compared to the knock off versions like Colourpop lipsticks. These lip kits are so popular that they often sell out within hours - one time even 7 minutes according to Jenner’s Twitter. One lip kit that immediately sold out called “22” had such scarcity that it was being sold online for $3,000. The scarcity of the product produced a shortage, so the demand and price went up for it.

Jenner’s name has been under some scrutiny for the price of her products, because it is said that they’re unreasonably high and that there are cheaper alternatives that are just as nice. There are many users that have compared the lip kits to other products, and some say that it’s not worth the price, but her products continue to sell out. There is such a high demand for products like these because of the Kylie Jenner name that comes with it. Her makeup is considered a luxury good, not a necessity because there are other cheaper alternatives, but her fans pay the price for the high quality and the brand name.

As her brand continues to grow, and reviews continue to be positive, the Kylie Cosmetics brand is steadily growing and releasing new products like Kylighter highlighter, eyeshadow palettes, glosses, blushes, and there’s much more to come as she continues to develop her company. As an A-list celebrity, it’s a little easier for Jenner to get her brand out there. She’s used her fame to her advantage to create a successful business become an entrepreneur.

Works Cited

Bates, Shelby. "Capitalism, Consumerism And Kylie Jenner's Lip Kits." Odyssey. N.p., 21 Apr. 2016. Web. 18 Apr. 2017.

Canal, Emily. "Kylie Jenner's Lip Kits, Social Status, And The Economics Of Scarcity." Forbes. Forbes Magazine, 03 Mar. 2016. Web. 18 Apr. 2017.

Schaefer, Kayleen. "Kylie Jenner Built a Business Empire out of Lip Kits and Fan Worship." Vanities. Vanity Fair, 30 Jan. 2017. Web. 18 Apr. 2017.

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