UK consumers will spend up to £40,000 on grooming in their lifetime

According to the survey, women will each spend up to £40,000 in their lifetime on cutting, colouring and styling - the average deposit for a UK house is £31,000.

Overall, consumers were reported to spend £300 billion per year on beauty, encompassing hair, skin and colour cosmetic products.

“A woman could visit the salon six times a year for a cut and blow-dry, which would usually cost around £35 at an average salon,”​ states the Hairtrade.com research.​

"Add that to the £65 a woman pays to colour her hair every 10 weeks and that’s a total of £338 per year – without taking into account more exclusive spots and other hair treatments​," it adds.

UK students spending more on cosmetics than workers…​

A recent poll by UK retail giant Debenhams revealed that it is actually students that spend more on cosmetics than full time workers.

The survey showed that 15% of full-time female student spent £30 a month or more on make-up, compared to 4% of full and part-time workers. 

The poll also revealed that 14% of those in full time education regarded keeping up with the latest cosmetics as important, compared to only 5% of workers.

Despite their greater expenditure, students were also more concerned with getting a good bargain than other groups, with 70% regarding the price of products as the most important factor in their decision to purchase.

In addition, just over half were willing to “splash out” on a foundation. Only 9% said that they would not be willing to purchase one of the staple items listed.