Consumer Report
Retailers are grappling with the high cost of returns, which reached an estimated $816 billion in lost revenue in 2022.
Recent studies by the United Kingdom Intellectual Property Office (UKIPO) revealed a striking trend. Men are twice as many male as female participants purchase counterfeit goods, particularly when these items are endorsed by social media influencers.
Over the past decade, Americans have spent more than $500 billion on beauty products. Last year alone, the US beauty industry was worth $60 billion, and with a compound annual growth rate (CAGR) of 5 percent, it’s expected to reach $73 billion by 2025.