Updated: Aug 4, 2019
As the health and beauty industry expands, untapped segments of the market and consumer-led trends are set to become central to its future.
The UK health and beauty industry are in fine form. Research by Global Data reports that this will continue, with UK consumers estimated to increase their annual spend per head over the next five years from £73 to £487. The Health and Beauty sector will be the fasted growing industry in the next five years.
High-street stores are currently the primary purchase channel, with nine out of 10 shoppers still buying in-store – Boots leads the way with 20.5% share of the market. But online retailers are slowly gaining strength, and sales are forecast to reach £3.1bn in 2022.
The Hairdressing and Beauty Treatment industry provides services such as hair cutting, styling and colouring, and beauty treatments such as skincare, manicures and pedicures.
Industry revenue has grown over the past five years, with basic hair salons remaining relatively sheltered from wider economic conditions owing to their non-discretionary nature.
However, consumers have become more willing to shop around for the best treatment deals, a trend aided by the rise of online shopping and growing prominence of price comparison websites, making consumers more accustomed to such behaviour.
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