Health and beauty industry ‘experiencing strong growth’
The health and beauty industry is to experience strong growth this year, despite pressure on household budgets.
At least that is the prediction of Verdict Research, which stated that products such as tooth whitening kits are to withstand the economic squeeze.
"In uncertain times people are still willing to spend money on making themselves look good and feel good," explained the firm’s retail analyst Carol Ratcliffe.
"It doesn’t cost much to treat yourself and even premium brands are relatively accessible," she added.
Ms Ratcliffe added that many people view these products as essential buys and will therefore continue to purchase them if inflation continues to rise.
Male health and beauty products are set to rise by 7.7 per cent alone, the firm claimed, as new ranges hit the shelves this year.
A recent survey by Mintel found that 45 per cent of men aged 64 and under think it is acceptable to use skincare products.
However, among men aged 65 and over, this figure fell to 17 per cent.
