The beauty industry in the Uk is the seventh largest cosmetics market in the world. It is an industry worth £27 billion as of 2020. Despite it being such a large market already it continues to thrive. This could be down to a number of factors. Advancing treatments, better facilities and staff and online beauty influencers.
Self-care and well-being have become things that are more prevalent in our society. People are now more conscious of their well-being and try to do things to improve their mental health. In some cases, businesses may even take out loans for 3 months or more in order to invest in staff wellbeing and self-care. For some people having clearer skin or nice hair can provide them with confidence that makes them feel better about themselves.
In their pursuit for self-love some people find themselves going to facilities that offer beauty treatments for example a spa. Due to the boom in people using these facilities the staff are much better trained to advise and carry out procedures offered at those places.
Because the service offered is so much better now customers are more likely to return to these places to get those treatments again. Not only that they are also more likely to share their experience with their friends thus giving that establishment more customers.
In recent times there has been an increase in the exposure and popularity of YouTube beauty influencers. These online personalities create content based around the beauty industry. Some of the videos involve makeup tutorials and make up reviews.
These videos help bring new customers into the beauty scene and also shines a lot on some of the products that can be found on the market today. These people are trusted within their fan base – who are mostly young people, that tend to be more engaged with that content and are more likely to listen to the advice given to them by someone they look up to online.
For people that aren’t content creators though with more cameras pointed at people and more social media apps that involve taking photographs people are a lot more conscious nowadays of how they look and how they come across to other people, as such they look for products that can make them look as good as possible.
As technology has improved over the years beauty treatments have advanced exponentially. Procedures like lash extensions, laser hair removal and LED light therapy have drastically changed the landscape for how people improve how they look and feel. These procedures have become safer, quicker and more affordable, making them a lot more accessible for people of all socioeconomic levels. Having advanced beauty treatments is no longer reserved for celebrities and economically well-off people which has opened the market to a whole new customer base.
The industry is also thriving because unlike clothes shops for example, make up and cosmetic products can be brought very quickly and reliably online. As brands get more integrated online, the makeup industry especially can survive such a change due to the very nature of the products that they offer. People tend to find a product that works well for them and will stick with that brand meaning that there will always be a secure customer base for a lot of the brands and products on offer in this particular market.