Report predicts health and beauty as U.K.’s fastest growing retail sector
LONDON A greater number of male shoppers, price inflation and women’s quest for eternal youth will outweigh economic pressures in 2008, driving health and beauty products in the United Kingdom to be the fastest growing retail sector, according to recent research.
In its recent report, dubbed U.K. Health & Beauty Retailers 2008, Verdict Research, a subsidiary of Datamonitor, predicts that health and beauty will take the crown in 2008 as the U.K.’s fastest growing retail sector.
In 2007, consumer expenditure on health and beauty products rose by 4.7 percent to GBP15.6 billion ($30.8 billion), outperforming total UK retail as it has done in every year since 2003. That growth looks to be even stronger in 2008. It forecasts that health & beauty, at 5.7 percent growth, will be the fastest growing retail sector in 2008.
“In uncertain times people are still willing to spend money on making themselves look good and feel good,” stated Carol Ratcliffe, retail analyst at Verdict Research and author of the report. “If you’re holding back from buying expensive items, there is more scope for smaller indulgences. Health and beauty products are ideal for this: it doesn’t cost much to treat yourself and even premium brands are relatively accessible.”
Total sales of men’s toiletries are expected to grow by 7.7 percent in 2008 as wider availability and a better selection of brands and products encourage more men to try new products.
Price inflation is another important factor. Verdict expects these higher costs to be partly passed on to consumers in the majority of beauty categories, with inflation peaking in 2008 across the market as a whole.
Vaseline targets men’s market
ENGLEWOOD CLIFFS, N.J. Vaseline, a Unilever brand, is entering the men’s skin care market with its first line of products designed just for him.
“Vaseline Men is a natural evolution for our brand,” stated Srini Sripada, Unilever brand director for Vaseline. “Vaseline is the No. 1 lotion used currently by men and we believe it is a category where there is plenty of room for growth. We wanted to provide men with hand, face and body lotions that serve their specific skin care needs whether everyday care or problem solving.”
The collection, available beginning in July, includes lotion for the body, hands and face. There’s also the new Lever 2000 Vaseline Men Skin Hydrating Body & Face Bar.
Vaseline is support the launch through in-store marketing initiatives including live in-store demonstrations and education, at-shelf sampling, in-store signage and displays, online retail samples and instant redeemable coupons. These programs will begin rolling out in late July and will continue to expand through the end of October.
Suggested retail prices range between $2.09 and $5.99.
Target introduces SheaMoisture skincare line
MINNEAPOLIS Target has debuted a new line of certified natural and organic skin care products made exclusively for ethnic skin.
“SheaMoisture is more than a new line of body and beauty items,” stated Greg Cunningham, Target’s director of multicultural marketing. “All of our SheaMoisture products utilize high concentrations of pure Shea Butter, which is one of the most effective natural skin conditioners and moisturizers. This is an exceptional personal care solution for our guests with dry and special skin care needs.”
The SheaMoisture line was developed in partnership with Sundial Brands, the privately owned African American skin care company that also developed and distributes the Nubian Heritage line.
The line includes SheaMoisture Body Wash, SheaMoisture Soap, SheaMoisture Lotion, SheaMoisture Body Scrub and SheaMoisture 100 percent Shea Butter. Target also introduced SheaMoisture Shave, a personal care solution for men experiencing ingrown hairs and razor bumps.
SheaMoisture is available at select Target stores nationwide and at Target.com. The prices range from $1.99 to $19.99.