Lipstick effect changing the face of UK high street

Only one in five consumers plan to cut back on health and beauty products this year as small indulgences remain a priority despite cost of living pressure, according to a recent survey from RSM UK. 

A survey of 1,000 consumers conducted on behalf of RSM UK showed that only 18% plan to cut back on health and beauty products; and only 22% of consumers would trade down to an own brand product – highlighting the overall strength of the category in the UK.  

Jacqui Baker, head of retail at RSM UK, said: ‘The lipstick effect is still driving growth in health and beauty, as consumers look to treat themselves to little luxuries despite a squeeze on household budgets. In addition, loyalty is fierce as the majority of consumers will invest in the products and brands they love, despite a higher price point, rather than considering a cheaper, own-brand option. 

‘Sephora’s move to open another UK store this week (15 November 2023), Boots committing to opening its first beauty-only shop in London and Avon announcing its first standalone shops demonstrates the strength of the sector, and signals real momentum for UK retail.’