Dec 1, 2010
Consumer expenditure on health & beauty products expected to continue rising
Dec 1, 2010
Research and Markets has announced the addition of the "UK Health & Beauty Retailers 2010" report to their offering.
The UK health & beauty market has been resilient through the economic downturn, but consumers increasingly viewing sectors such as skincare as necessity items are helping to drive growth.
UK Health & Beauty Retailers 2010 examines expenditure trends, the performance of the market leaders and the opportunities and threats in the sector. Profiles analysed include Alliance Boots, Superdrug, The Perfume Shop, Asda, Tesco, Morrisons, Sainsburys, Lloydspharmacy, Debenhams and House of Fraser.
Consumer expenditure on health & beauty products rose by 3% in 2009 to £17.1bn and this trend is expected to continue in 2010 with sales rising by 4.7%. Over the past five years, the sector has outperformed total UK retail, growing its share of UK retail expenditure from 5.5% in 2005 to 6.2% in 2010.
Cosmetics will see the highest growth rate in 2010 at 5.4% maintaining its 8.0% share of the health and beauty market. With new products being introduced continuously, innovation is a key driver in the cosmetics category.
While department stores have faced strong price competition from grocers and have lost customers who have traded down to cheaper products not sold in department stores, the channel has managed to grow its share. Many customers continue to buy into premium health & beauty products as they become increasingly concerned with looking youthful.
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