Premium beauty has thrived in recent months. But department stores – Britain’s traditional retail route for premium beauty – are struggling
Despite concerns over Brexit and a slowdown in high street spending generally, UK consumers' appetite for beauty remains healthy with the region's beauty and personal care market experiencing another year of solid value growth in 2017, according to market research company Euromonitor International.
"Value sales increased by 2.7%, which is in line with the average CAGR [compound annual growth rate] of 2.8% experienced for the past five years, and is higher than the growth of 1.9% experienced by the Western European region overall in 2017," says Kseniia Galenytska, Research Analyst at Euromonitor.
Notably, it is high end and niche beauty products that are providing the overall market with a growth boost.
"Consumers in the UK are armed with a growing amount of information available online and are looking for quality over quantity, which is opening up opportunities for premiumisation," adds Galenytska.
"Thus the switch to premium products continued in 2017, as the growing number of indie digitally native premium brands stole the spotlight."
Looking in greater depth at separate categories, fellow researcher NPD Group, which focuses specifically on the premium beauty market, noted a reversal of fortunes for skin care and make-up.
"Over the last few years we've seen make-up enjoy double digit growth. Now we're seeing that...
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