Health & beauty goes top

GlobalData research shows that Health and Beauty is now retail’s fastest growing sector. Add to that the consumer drive for sustainability and naturalness, and health stores can put themselves in pole position.

The analyst says the sector is set to grow by 16.5% until 2023. Meanwhile another data company, Statista, found that the market value for beauty and personal care reached around £14.7bn in 2019 and is likely to grow by over £15bn next year.

However, the news isn’t so good for traditional chains such as Boots and Superdrug which are losing market share as other large retailers grow their health and beauty sales, says GlobalData.

But the sector has a long way to go to improve its sustainability ethic, a crucial factor according to research group Sonar which recently reported that 87% of UK consumers said they would prefer to buy from companies and brands that demonstrate a commitment to sustainability.

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