Encouraging signs if you want to market your health and beauty business through the recession, especially if you are promoting retail beauty products. CosmeticsDesign-Europe wrote last week about a new report from “Research and Markets” -
“The UK health and beauty market is set to grow by 2.7 per cent in 2009, despite the fact that the there has been a slight decline in the overall retail segment.
The figures prove the industry to be one of the most resilient during the current economic downturn, showing that growth is still possible despite the fact that many other segments are reporting plummeting sales figures.Accordingly the market should be valued at £16.3bn (€18.84bn) by the end of the year, according to a new report from Research and Markets entitled UK Health & Beauty Retailers 2009.
The figures are particularly good when contrasted with an overall decline for retail sales figures in the UK of approximately 0.6 per cent, a figure that is largely accounted for by the significant economic downturn in the UK.”
Though cheaper supermarket “own brands” are taking some of the market share from established names like L’Oreal, the overall growth prediction is a good sign. And if your salon is not yet offering products or services for men, you may want to read this paragraph -
“…the men’s grooming segment is also tipped as having significant potential, with the report highlighting the fact that sales in this category increased by 7.5 per cent in 2008 to reach over £1bn.”
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