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Beauty Lifts High Street Gloom as CEW UK Unveils the Most Comprehensive Mapping of the UK Beauty Industry
Caroline Neville MBE, President of CEW commented "Beauty appears to be more resilient than other sectors on the High Street. Bricks and mortar retailing is still crucial to beauty and the primary medium for consumers to interact and purchase brands." She added, "UK Beauty is celebrated across the globe for its creative, entrepreneurial spirit and consistently produces enduring iconic brands. The sector's continual success lies in an ability to innovate, stay relevant and be exciting. This is reflected in our performance in what is one of the toughest trading periods in decades for the High Street."
"By working with Mintel to deliver this report, we wanted to clearly demonstrate the success of the UK Beauty Industry, at home and around the world, and map in detail the demographics and scale of the sector," Caroline said. Mintel are recognised in the beauty industry as the leading market intelligence agency and examined key factors attributed to spending, employment, the success and future of the UK Beauty Industry.
The report found that in 2017, UK consumers spent £25.1bn on beauty, with this figure set to rise to £26.9bn by 2022. While beauty lags behind British Fashion's contribution of £32bn to the country's GDP, due largely to higher unit retail prices, over one million people are employed in the UK Beauty Industry compared to the 890,000 working in the fashion sector.
"The UK beauty and personal care industry has quickly taken advantage of advancements in digital technology and the consumer thirst for new products. Countless men and women have set up their own beauty businesses – exploiting cross border sales, increasingly penetrating new markets and we wanted to map that success," said Jane Henderson , Global President of Beauty and Personal Care, Mintel.
Other key findings of the CEW Report include:
Founded in 1992, Cosmetic Executive Women is a not-for-profit professional organisation with more than 1,000 members in the United Kingdom , from the beauty industry and related fields. We bring the beauty community together, at every stage of their careers, from every facet of the industry. In the UK, CEW has grown to become the most influential organisation, promoting and defining the British Beauty Industry, and has for the last quarter of a century worked to reach a pre-eminent position as the only voice of the UK beauty industry.
Mintel is the world's leading market intelligence agency. For over 40 years, Mintel's expert analysis of the highest quality data and market research has directly impacted on client success. With offices in London , Chicago , Shanghai , Belfast , Düsseldorf, Kuala Lumpur , Mumbai , Munich , New York , São Paulo, Seoul , Singapore , Sydney , Tokyo , and Toronto , Mintel has forged a unique reputation as a world-renowned business brand. For more information on Mintel, please visit www.mintel.com.
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