Report reveals the rapid growth of UK beauty & nail salons
By Helena Biggs | 11 November 2018 | Movers & Shakers, News
Beauty and nail salons are among the fastest growing categories on the high street, according to results published by American Express Shop Small.
Despite the high street witnessing closures (owing to an increase in online shopping), the study shows that the independent retail sector is set to experience net growth of 0.3% from 2017-2023.
The research, which was carried out by retail experts at GlobalData, found that this growth will predominantly be driven across three sectors.
Independents offering entertainment services like cinemas and escape rooms are set to grow by 17% in the period to 2023, while hair and beauty is predicted to see an increase of 16%, and the health and fitness sector 15%.
Reasons for change
Research findings confirmed that for almost two thirds of shoppers, the desire for experiences and opportunity to buy things that couldn’t be easily sourced online were important reasons for visiting high street independents.
“What’s encouraging about this research is that it shows modern high streets are evolving to keep pace with consumer demands,” comments Maureen Hinton, global retail research director at GlobalData.
“The growth of online has also made the high street’s role as a service-led, social space increasingly important, encouraging the rise of hybrid businesses.”
The American Express Shop Small research is championing small businesses with a campaign on 1 December.
The day, founded by American Express, will highlight small business success and encourage consumers to support their local independents.
American Express is incentivising its Cardmembers to shop small this festive season with a £5 statement credit when they spend £10 or more at participating small businesses between 1–16 December 2018.
“Small businesses play a vital role within their local communities and their agile nature ensures they are able to adapt and respond to changing consumer demand,” comments Caroline Bouvet, VP, American Express.
“We have a long history of working with small businesses and hope the rest of the country joins us in showing appreciation for them by shopping small on Small Business Saturday.”