Better appearance: Industry revenue is forecast to rise in 2023-24 despite the cost-of-living crisis
Cosmetics store revenue is expected to grow at a compound annual rate of 0.5% over the five years through 2023-24. Faced with immense competition from department stores, online rivals and even clothing shops like H&M, beauty shops have fought back by expanding in-store beauty offerings. For better or worse, social media has amplified the importance of outer appearance, with the dramatic rise in photos and videos posted online propelling sales from the younger generation. With doors forced close from the pandemic and no way to test products in-store, cosmetic retailers rolled out a suite of digital alternatives, boosting sales.
Companies in the Cosmetics Retailers industry sell cosmetics in specialised retail outlets. The retailing of toiletries is not included in this industry. Online-only retailers and chemists, such as Boots, are also not included in the industry (see report G47.730).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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