At a time when the rest of the retail sector is in crisis, much of the beauty industry continues to defy gravity. Market research firm GlobalData says the UK beauty market is set to reach £26.7bn by 2022, with annual spending soaring by £73 to £847 per shopper. However, there are undeniable challenges the industry faces, and as companies are presented with the changing needs of the millennial consumer, they are naturally looking for new innovative ways to meet this demand. Tailored personal marketing and products are being heralded as the future solution, and beauty tech is seeking to be at the forefront of this evolution.
What else does this article talk about?
- Cosmetics, beauty aids
- United Kingdom
- Tech-driven innovation
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