Only one in five consumers plan to cut back on health and beauty products this year as small indulgences remain a priority despite cost of living pressure, according to a recent survey from RSM UK.
A survey of 1,000 consumers conducted on behalf of RSM UK showed that only 18 per cent plan to cut back on health and beauty products; and only 22 per cent of consumers would trade down to an own brand product – highlighting the overall strength of the category in the UK.
Jacqui Baker, head of retail at RSM UK, said, “The lipstick effect is still driving growth in health and beauty, as consumers look to treat themselves to little luxuries despite a squeeze on household budgets. In addition, loyalty is fierce as the majority of consumers will invest in the products and brands they love, despite a higher price point, rather than considering a cheaper, own-brand option.
“Sephora’s move to open another UK store this week (Nov 15), Boots committing to opening its first beauty-only shop in London and Avon announcing its first standalone shops demonstrates the strength of the sector, and signals real momentum for UK retail.