Health and beauty insights
The current global pandemic is changing short and long-term consumer behaviour in ways that data, analytics and insight teams (including our very own) have turned their attention to predicting.
The current global pandemic is changing short and long-term consumer behaviour in ways that data, analytics and insight teams (including our own) have turned their attention to predicting.
Data collected by Kantar (March 2020) suggests that the health, beauty and self-care sector is likely to be one which the COVID-19 outbreak impacts, either positively or negatively, the least in the long term.
This is good news for the sector. Our insight and analytics team had found that the UK health and beauty market is set to grow by 8.8% - worth an extra £2bn – by 2024 (GlobalData February 2020), and it suggests that the current pandemic will not affect this long-term forecast.
Health and beauty in our centres
The health and beauty sector is a focus area of ours. By mapping our catchment areas against the growth of the sector, we found huge potential for our centres to grow in this area in the future. Our insight and analytics team found that all our centres have large amounts of uncaptured spending in health and beauty spend, leaving plenty of room to grow this sector at each centre.
Our insight and analytics team also looked at specific upcoming beauty trends. Driven by society becoming increasingly aware of the impacts of climate change, beauty consumers are looking for more sustainable product lines. This includes recyclable packaging and waterless beauty products. Other upcoming trends to look out for include the rise in more influencer beauty lines, and more of an emphasis on men’s skincare.
We believe that self-care will prove a strong footfall driver in the future. The category is great for experiential retail – people love coming into stores to try out the latest products before they buy them. This is a category for which having a physical presence has a particularly strong halo effect upon online sales. We think this will also lead to there being a post lockdown boom as people treat themselves to the physical experiences they have been missing out on.