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Description

Description

“Beauty and personal care products (BPC) retailing is more varied around Europe than almost any other sector. From drugstores in Germany to supermarkets in other countries, the market is largely in the hands of non-specialists. But there is a fightback being staged by the specialists – Douglas has embarked on a programme of acquisitions, while companies such as Kiko Milano bring new ideas to the sector, albeit with mixed success. This is a growing sector and as rising real incomes lead to more aspirational shopping, the specialists should be well placed to grow their share.”
– Richard Perks, Director of retail research

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • Areas covered in this Report
      • Consumer research
        • Technical notes
          • Retail sector sizes
            • Financial definitions
              • Abbreviations
                • VAT rates
                  • Figure 1: VAT rates around Europe, 2014-19
              • Executive Summary – Europe – The Market

                  • The market
                    • Sector size and forecast
                        • Figure 2: Europe: health and beauty specialists, sales, excl. VAT, 2014-18
                        • Figure 3: Europe: health and beauty specialists, forecast sales, excl. VAT, 2019-23
                      • Beauty and personal care specialists
                        • Figure 4: Europe: beauty and personal care specialists, sales, 2014-18
                        • Figure 5: Europe: beauty and personal care specialists, forecast sales, 2019-23
                        • Figure 6: Europe: estimated sales by BPC retailers, 2015-17
                      • Spending on personal care goods and services
                        • Figure 7: Europe: consumer spending on health and beauty products and services, 2013-17
                        • Figure 8: Europe: Spending on personal care goods and services as % of all consumer spending, 2017
                      • Spending and retail sales
                        • Figure 9: Europe: Sales by BPC specialists as % all spending on beauty and personal care, 2013-17
                      • Inflation
                        • Figure 10: Europe: inflation in personal care goods and services, annual % change, 2014-18
                        • Figure 11: Europe: inflation in personal care goods, annual % change, 2014-18
                        • Figure 12: Europe: Inflation: all items and personal care products, 2018*
                      • Online
                        • Figure 13: Europe: online sales of BPC products, 2018
                      • Leading specialists
                          • Figure 14: Europe: leading beauty and personal care specialists, sales, 2015/16-2017/18
                          • Figure 15: Europe: leading beauty and personal care specialists, outlets 2015/16-2017/18
                          • Figure 16: Leading beauty and personal care retailers, sales per outlet 2015/16-2017/18
                        • Market shares
                          • Figure 17: Europe: top 20 beauty and personal care specialists’ shares of all BPC specialists’ sales, 2015-17
                        • What we think
                        • Executive Summary – Europe – The Consumer

                            • What they bought
                                • Figure 18: Europe: products bought in the last 12 months by country, October 2018
                              • Online vs in-store
                                  • Figure 19: Europe: buyers of BPC products in-store and online, October 2018
                                • Store-based retailers
                                    • Figure 20: Europe: leading specialist BPC retailers and share of shoppers, October 2018
                                    • Figure 21: Europe: share of BPC shoppers using specialists, supermarkets and department stores, by country, October 2018
                                  • Online retailers
                                      • Figure 22: Europe: retailers used to buy BPC products online, October 2018
                                    • Attitudes to shopping for BPC products
                                        • Figure 23: Europe: attitudes to shopping for beauty and personal care, October 2018
                                        • Figure 24: Europe: those wanting more environmentally-friendly packaging, October 2018
                                        • Figure 25: Europe: those wanting to know if products are produced ethically, October 2018
                                        • Figure 26: Europe: those wanting to compare prices before buying, October 2018
                                    • Executive Summary – Europe – Launch Activity and Innovation

                                      • Retail innovations
                                        • Douglas launches new strategy
                                          • Zalando opens first bricks-and-mortar beauty store
                                            • Figure 27: Zalando’s first physical beauty store, Berlin, November 2018
                                          • Sephora’s natural beauty category
                                            • Lush’s first packaging-free store in Milan
                                              • Figure 28: Lush’s The Naked Store
                                            • YSL beauty hotel
                                              • Chanel creative studio launch
                                                • Augmented reality
                                                  • Neutrogena Skin360
                                                    • Collaborations
                                                      • L’Oréal launches Isabel Marant collaboration at Paris Fashion Week
                                                        • Purchase straight from the red carpet
                                                          • Jennifer Lopez launches a beauty line
                                                            • ASOS x Crayola
                                                            • France

                                                              • Overview
                                                                • What you need to know
                                                                  • Areas covered in this Report
                                                                    • Executive summary
                                                                      • The market
                                                                        • Consumer spending
                                                                          • Figure 29: France: consumer spending on beauty and personal care (incl. VAT), 2013-18
                                                                        • Sector size and forecast
                                                                          • Channels of distribution
                                                                            • Figure 30: France: estimated distribution of spending on beauty and personal care goods by channel, 2018
                                                                          • Companies and brands
                                                                            • Leading players
                                                                              • Market shares
                                                                                • Figure 31: France: leading beauty specialists’ shares of all beauty specialists’ sales, 2018
                                                                              • Online
                                                                                • The consumer
                                                                                  • BPC products purchased
                                                                                    • Figure 32: France: BPC products bought in the last 12 months – Broad categories, October 2018
                                                                                  • Online and in-store shopping for BPC
                                                                                    • Where they shop for BPC
                                                                                      • Figure 33: France: where beauty and personal care products were purchased, October 2018
                                                                                    • Attitudes to shopping for BPC products
                                                                                      • Figure 34: France: attitudes to buying beauty and personal care, October 2018
                                                                                    • What we think
                                                                                      • Issues and insights
                                                                                        • Clean and green beauty
                                                                                          • The facts
                                                                                            • The implications
                                                                                              • The future for online and digital
                                                                                                • The facts
                                                                                                  • The implications
                                                                                                    • The market – What you need to know
                                                                                                      • Economy picking up after prolonged period of low growth
                                                                                                        • BPC, a low growth market
                                                                                                          • BPC retailers doing well
                                                                                                            • Grocers and specialist chains are the main channels
                                                                                                              • Consumer spending
                                                                                                                • Signs of growth in the French economy
                                                                                                                  • Low growth in beauty and personal care spending
                                                                                                                    • Figure 35: France: consumer spending on beauty and personal care (incl. VAT), 2013-18
                                                                                                                  • Product market breakdown
                                                                                                                    • Figure 36: France: main beauty and personal care markets, spending (inc VAT), 2013-18
                                                                                                                    • Figure 37: France: main beauty and personal care markets, forecast spending (inc VAT), 2019-22
                                                                                                                  • Sector size and forecast
                                                                                                                    • Total retail sales recovering, further growth forecast in 2018
                                                                                                                      • Beauty retailers’ sales accelerating
                                                                                                                        • Figure 38: France: health & beauty specialists, sales (excl VAT), 2013-18
                                                                                                                        • Figure 39: France: health & beauty specialists, forecast sales, excl VAT, 2018-23
                                                                                                                      • Inflation
                                                                                                                        • Figure 40: France: consumer prices * of personal care items, annual % change, 2013-17
                                                                                                                        • Figure 41: France: consumer price inflation (HICP *) on personal care products and services, annual % change, January 2017-October 2018
                                                                                                                      • Channels of distribution
                                                                                                                        • Figure 42: France: where beauty and personal care products were purchased, France, October 2018
                                                                                                                      • Grocers dominate
                                                                                                                        • Pharmacies and parapharmacies significant
                                                                                                                          • Department stores have a low share
                                                                                                                            • Online growing
                                                                                                                              • Figure 43: France: estimated distribution of spending on beauty and personal care goods by channel, 2018
                                                                                                                            • Companies and brands – What you need to know
                                                                                                                              • Sephora leads
                                                                                                                                • Leading groups generate almost 80% of sector sales
                                                                                                                                  • Online BPC shopping growing
                                                                                                                                    • Leading players
                                                                                                                                      • Sephora leads
                                                                                                                                        • Yves Rocher developing new store formats
                                                                                                                                          • Marionnaud still in the red despite investments
                                                                                                                                            • Figure 44: France: leading beauty and personal care specialists, sales, 2014-18
                                                                                                                                            • Figure 45: France: leading beauty and personal care specialists, outlets, 2014-18
                                                                                                                                          • Sales per outlet
                                                                                                                                            • Figure 46: France: leading beauty and personal care specialists, sales per outlet, 2014-18
                                                                                                                                          • Market shares
                                                                                                                                            • Figure 47: France: leading beauty specialists’ shares of all beauty specialists’ sales, 2014-18
                                                                                                                                          • Online
                                                                                                                                            • Online activity
                                                                                                                                              • Shopping online
                                                                                                                                                • Figure 48: France: online purchases in the last 12 months in key sectors, 2012-18
                                                                                                                                              • Online BPC sales
                                                                                                                                                • Leading online players
                                                                                                                                                  • Digital world potential
                                                                                                                                                    • Figure 49: France: beauty and grooming-related activities done or willing to do, 2018
                                                                                                                                                  • The consumer – What you need to know
                                                                                                                                                    • BPC, a partly non-discretionary market
                                                                                                                                                      • Supermarkets lead for buying BPC
                                                                                                                                                        • Demand for ethical and natural products
                                                                                                                                                          • Experiences appeal to the young
                                                                                                                                                            • Beauty and personal care products purchased
                                                                                                                                                              • Figure 50: France: BPC products bought in the last 12 months – Broad categories, October 2018
                                                                                                                                                            • Online and in-store shopping for beauty and personal care products
                                                                                                                                                              • Women shop more online
                                                                                                                                                                • Figure 51: France: online BPC shoppers, October 2018
                                                                                                                                                                • Figure 52: France: profile of online and in-store buyers of beauty and personal care products, October 2018
                                                                                                                                                                • Figure 53: France: where beauty and personal care products were purchased, by how they shopped, October 2018
                                                                                                                                                              • Where beauty and personal care products are purchased
                                                                                                                                                                • Figure 54: France: where beauty and personal care products were purchased, October 2018
                                                                                                                                                              • Customer profiles
                                                                                                                                                                • Figure 55: France: usage of retailers for buying beauty and personal care products, by average age and income, October 2018
                                                                                                                                                              • Where people shopped and what they bought
                                                                                                                                                                • Figure 56: France: BPC products purchased by type of retailer used, deviation from average, October 2018
                                                                                                                                                                • Figure 57: France: BPC products purchased by specialist retailer used, deviation from average, October 2018
                                                                                                                                                              • Attitudes to shopping for beauty and personal care products
                                                                                                                                                                • Demand for ethical and natural products
                                                                                                                                                                  • Figure 58: France: attitudes to buying beauty and personal care, October 2018
                                                                                                                                                                • Experiences appeal to the young
                                                                                                                                                                  • Figure 59: France: in-store related attitudes to buying beauty and personal care by age group, October 2018
                                                                                                                                                                • Ethics and nature have broader appeal
                                                                                                                                                                  • Figure 60: France: environmental attitudes to buying beauty and personal care by age group, October 2018
                                                                                                                                                                • Price more important to women
                                                                                                                                                                  • Figure 61: France: attitudes to buying beauty and personal care, % agreeing that “I often compare the price of a product across different retailers” by age group and gender, October 2018
                                                                                                                                                                • Customer profiles for different attitudes
                                                                                                                                                                  • Figure 62: France: profile of those agreeing with selected attitude statements, October 2018
                                                                                                                                                                • Choice and price
                                                                                                                                                                  • Figure 63: France: attitudes to buying beauty products by retailer used, October 2018
                                                                                                                                                                • Environmental and ethical concerns
                                                                                                                                                                  • Figure 64: France: attitudes to buying beauty products by retailer used, October 2018
                                                                                                                                                                • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                  • Abbreviations
                                                                                                                                                                    • Data sources
                                                                                                                                                                    • Germany

                                                                                                                                                                      • Overview
                                                                                                                                                                        • What you need to know
                                                                                                                                                                          • Areas covered in this Report
                                                                                                                                                                            • Executive summary
                                                                                                                                                                              • Consumer spending
                                                                                                                                                                                • Figure 65: Germany: personal care spending as % all consumer spending, 2012-18
                                                                                                                                                                              • Sector size and forecast
                                                                                                                                                                                • Figure 66: Germany: BPC specialists’ share of all retail sales, 2013-23
                                                                                                                                                                              • Inflation
                                                                                                                                                                                • Figure 67: Germany: consumer price inflation on personal care products and services, annual % change, January 2017-November 2018
                                                                                                                                                                              • Channels of distribution
                                                                                                                                                                                • Figure 68: Germany: estimated distribution of spending on beauty and personal care products by channel, 2017
                                                                                                                                                                              • Companies and brands
                                                                                                                                                                                • Market shares
                                                                                                                                                                                  • Figure 69: Germany: leading BPC specialists’ shares of all BPC specialists’ sales, 2017
                                                                                                                                                                                  • Figure 70: Germany: leading BPC specialists’ shares of all spending on BPC, 2017
                                                                                                                                                                                • Online
                                                                                                                                                                                  • The consumer
                                                                                                                                                                                    • What they buy
                                                                                                                                                                                      • Figure 71: Germany: beauty and personal care products bought in the last 12 months, October 2018
                                                                                                                                                                                    • Online and in-store shopping
                                                                                                                                                                                      • Figure 72: Germany: online and in-store buyers of personal care products, October 2018
                                                                                                                                                                                    • Where they shop
                                                                                                                                                                                      • Figure 73: Germany: where beauty and personal care products were purchased, October 2018
                                                                                                                                                                                    • Attitudes to shopping for beauty and personal care products
                                                                                                                                                                                      • Figure 74: Germany: attitudes to products and packaging of BPC products, October 2018
                                                                                                                                                                                      • Figure 75: Germany: attitudes to stores selling BPC products, October 2018
                                                                                                                                                                                      • Figure 76: Germany: attitudes to price comparisons and online reviews, October 2018
                                                                                                                                                                                      • Figure 77: Germany: attitudes to environmental concerns, October 2018
                                                                                                                                                                                    • What we think
                                                                                                                                                                                      • Issues and insights
                                                                                                                                                                                        • The competitive arena is changing
                                                                                                                                                                                          • What we’ve seen
                                                                                                                                                                                            • What it means
                                                                                                                                                                                              • BPC retailing is becoming more demanding
                                                                                                                                                                                                • What we’ve seen
                                                                                                                                                                                                  • What it means
                                                                                                                                                                                                    • The market – What you need to know
                                                                                                                                                                                                      • Personal care spending
                                                                                                                                                                                                        • Specialists gaining share
                                                                                                                                                                                                          • Inflation below average
                                                                                                                                                                                                            • Drugstores still the biggest players
                                                                                                                                                                                                              • Consumer spending
                                                                                                                                                                                                                • Figure 78: Germany: consumer spending on beauty and personal care (incl. VAT), 2013-18
                                                                                                                                                                                                              • Product market breakdown
                                                                                                                                                                                                                • Figure 79: Germany: main beauty and personal care markets, spending (incl. VAT), 2012-17
                                                                                                                                                                                                                • Figure 80: Germany: main beauty and personal care markets, forecast spending (incl. VAT), 2018-22
                                                                                                                                                                                                              • Sector size and forecast
                                                                                                                                                                                                                • Drugstores resurgent?
                                                                                                                                                                                                                  • Figure 81: Germany: health & beauty specialists, sales, excl. VAT, 2014-18
                                                                                                                                                                                                                  • Figure 82: Germany: health & beauty specialists, forecast sales, excl. VAT, 2019-23
                                                                                                                                                                                                                • Inflation
                                                                                                                                                                                                                  • Figure 83: Germany: consumer prices of personal care items, annual % change, 2014-18
                                                                                                                                                                                                                  • Figure 84: Germany: consumer price inflation on personal care products and services, annual % change, January 2017-November 2018
                                                                                                                                                                                                                • Channels of distribution
                                                                                                                                                                                                                  • Cosmetics and perfumery specialists lead the way
                                                                                                                                                                                                                    • Food retailers, not the force they are elsewhere
                                                                                                                                                                                                                      • Mixed goods – A mixed picture
                                                                                                                                                                                                                        • Online and other non-store
                                                                                                                                                                                                                          • Figure 85: Germany: estimated distribution of spending on beauty and personal care products by channel, 2017
                                                                                                                                                                                                                        • Companies and brands – What you need to know
                                                                                                                                                                                                                          • Four players share the sector
                                                                                                                                                                                                                            • Online takes 7.5% of the market
                                                                                                                                                                                                                              • Leading players
                                                                                                                                                                                                                                • Figure 86: Germany: leading beauty and personal care specialists, sales, excl. VAT, 2013/14-2017/18
                                                                                                                                                                                                                                • Figure 87: Germany: leading beauty and personal care specialists, outlets, 2013/14-2017/18
                                                                                                                                                                                                                                • Figure 88: Germany: leading beauty and personal care specialists, sales per outlet, excl. VAT, 2013/14-2017/18
                                                                                                                                                                                                                              • Market shares
                                                                                                                                                                                                                                • Figure 89: Germany: leading BPC specialists’ shares of all beauty and personal care specialists’ sales, 2014-17
                                                                                                                                                                                                                                • Figure 90: Germany: leading BPC specialists’ shares of all BPC spending, 2014-17
                                                                                                                                                                                                                              • What happened to Schlecker’s share of the market?
                                                                                                                                                                                                                                • Online
                                                                                                                                                                                                                                  • Online access
                                                                                                                                                                                                                                    • Shopping online
                                                                                                                                                                                                                                      • Figure 91: Germany: online purchases in the last 12 months, 2008-17
                                                                                                                                                                                                                                    • Online sales and leading online players
                                                                                                                                                                                                                                      • The consumer – What you need to know
                                                                                                                                                                                                                                        • Almost everyone beauty and personal care products
                                                                                                                                                                                                                                          • Online growing, but is the sole focus for few
                                                                                                                                                                                                                                            • Drugstores the most used retailers
                                                                                                                                                                                                                                              • Price comparison and environmental concerns important to consumers
                                                                                                                                                                                                                                                • Beauty and personal care products purchased
                                                                                                                                                                                                                                                  • Beauty and personal care products widely bought.
                                                                                                                                                                                                                                                    • Figure 92: Germany: beauty and personal care products bought in the last 12 months, October 2018
                                                                                                                                                                                                                                                  • Online and in-store shopping for beauty and personal care products
                                                                                                                                                                                                                                                    • Figure 93: Germany: online and in-store buyers of beauty and personal care products, October 2018
                                                                                                                                                                                                                                                  • Where beauty and personal care products are purchased
                                                                                                                                                                                                                                                    • Figure 94: Germany: where beauty and personal care products were purchased, October 2018
                                                                                                                                                                                                                                                    • Figure 95: Germany: customer profile of leading retailers, October 2018
                                                                                                                                                                                                                                                  • Where people shopped and what they bought
                                                                                                                                                                                                                                                    • Figure 96: Germany: toiletries buyers by where they shop, deviation from the average, October 2018
                                                                                                                                                                                                                                                    • Figure 97: Germany: body skincare buyers by where they shop, deviation from the average, October 2018
                                                                                                                                                                                                                                                    • Figure 98: Germany: fragrance/aftershave buyers by where they shop, deviation from the average, October 2018
                                                                                                                                                                                                                                                  • Attitudes to shopping for beauty and personal care products
                                                                                                                                                                                                                                                    • Products and packaging
                                                                                                                                                                                                                                                      • Figure 99: Germany: attitudes to products and packaging of BPC products, October 2018
                                                                                                                                                                                                                                                      • Figure 100: Germany: attitudes to limited editions by where BPC buyers shop, deviation from the average, October 2018
                                                                                                                                                                                                                                                    • Stores
                                                                                                                                                                                                                                                      • Figure 101: Germany: attitudes to stores selling BPC products, October 2018
                                                                                                                                                                                                                                                      • Figure 102: Germany: BPC buyers unsure of what to buy by where they shop, deviation from the average, October 2018
                                                                                                                                                                                                                                                    • Use of online for information gathering
                                                                                                                                                                                                                                                      • Figure 103: Germany: attitudes to price comparisons and online reviews, October 2018
                                                                                                                                                                                                                                                      • Figure 104: Germany: BPC buyers who compare prices by where they shop, deviation from the average, October 2018
                                                                                                                                                                                                                                                    • Environmental and ethical concerns
                                                                                                                                                                                                                                                      • Figure 105: Germany: attitudes to environmental concerns: October 2018
                                                                                                                                                                                                                                                      • Figure 106: Germany: profile of those agreeing with ethical statements, October 2018
                                                                                                                                                                                                                                                      • Figure 107: Germany: BPC buyers wanting ethically-produced goods by where they shop, deviation from the average, October 2018
                                                                                                                                                                                                                                                    • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                                                                                                      • Abbreviations
                                                                                                                                                                                                                                                        • Data sources
                                                                                                                                                                                                                                                        • Italy

                                                                                                                                                                                                                                                          • Overview
                                                                                                                                                                                                                                                            • What you need to know
                                                                                                                                                                                                                                                              • Areas covered in this Report
                                                                                                                                                                                                                                                                • Executive summary
                                                                                                                                                                                                                                                                  • The market
                                                                                                                                                                                                                                                                    • Consumer spending
                                                                                                                                                                                                                                                                      • Figure 108: Italy: annual percentage change in total consumer spending and consumer spending on personal care, 2013-18
                                                                                                                                                                                                                                                                    • Sector size and forecast
                                                                                                                                                                                                                                                                      • Figure 109: Italy: annual percentage change in retail sales, by sector, 2013-18
                                                                                                                                                                                                                                                                    • Inflation
                                                                                                                                                                                                                                                                      • Figure 110: Italy: consumer price inflation on all items and personal care products and services, annual % change, December 2017-December 2018
                                                                                                                                                                                                                                                                    • Channels of distribution
                                                                                                                                                                                                                                                                      • Companies and brands
                                                                                                                                                                                                                                                                        • Leading players
                                                                                                                                                                                                                                                                          • Market share
                                                                                                                                                                                                                                                                            • Figure 111: Italy: leading BPC specialists’ estimated shares of all spending on beauty and personal care, 2018
                                                                                                                                                                                                                                                                          • Online
                                                                                                                                                                                                                                                                            • The consumer
                                                                                                                                                                                                                                                                              • BPC products purchased
                                                                                                                                                                                                                                                                                • Figure 112: Italy: beauty and personal care products purchased in the last 12 months, October 2018
                                                                                                                                                                                                                                                                              • Where they shop
                                                                                                                                                                                                                                                                                • Figure 113: Italy: where beauty and personal care products were purchased in the last 12 months, October 2018
                                                                                                                                                                                                                                                                              • Attitudes to shopping for BPC products
                                                                                                                                                                                                                                                                                • Figure 114: Italy: attitudes to buying beauty and personal care products, October 2018
                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                • Issues and insights
                                                                                                                                                                                                                                                                                  • How can retailers better utilise the online channel?
                                                                                                                                                                                                                                                                                    • The facts
                                                                                                                                                                                                                                                                                      • The implications
                                                                                                                                                                                                                                                                                        • How can retailers offset intense price competition?
                                                                                                                                                                                                                                                                                          • The facts
                                                                                                                                                                                                                                                                                            • The implications
                                                                                                                                                                                                                                                                                              • The market – What you need to know
                                                                                                                                                                                                                                                                                                • BPC spending continues to rise
                                                                                                                                                                                                                                                                                                  • Beauty outperforms personal care
                                                                                                                                                                                                                                                                                                    • Sales through specialist retailers down
                                                                                                                                                                                                                                                                                                      • BPC inflation remains low
                                                                                                                                                                                                                                                                                                        • Online-only retailers stealing spending
                                                                                                                                                                                                                                                                                                          • Consumer spending
                                                                                                                                                                                                                                                                                                            • Economy still weak
                                                                                                                                                                                                                                                                                                              • Spending on BPC weak in 2017 but better in 2018
                                                                                                                                                                                                                                                                                                                • Figure 115: Italy: consumer spending on beauty and personal care (incl. VAT), 2013-18
                                                                                                                                                                                                                                                                                                              • Product market breakdown
                                                                                                                                                                                                                                                                                                                • Beauty continues to drive growth
                                                                                                                                                                                                                                                                                                                  • Figure 116: Italy: main beauty and personal care markets, spending (inc VAT), 2013-18
                                                                                                                                                                                                                                                                                                                • Trend looks set to continue
                                                                                                                                                                                                                                                                                                                  • Figure 117: Italy: main beauty and personal care markets, forecast spending (inc VAT), 2018-22
                                                                                                                                                                                                                                                                                                                • Sector size and forecast
                                                                                                                                                                                                                                                                                                                  • Specialist sector in decline…
                                                                                                                                                                                                                                                                                                                    • Figure 118: Italy: health & beauty specialists, sales (excl VAT), 2013-18
                                                                                                                                                                                                                                                                                                                  • …but forecast to return to growth in 2019
                                                                                                                                                                                                                                                                                                                    • Figure 119: Italy: health & beauty specialists, forecast sales, excl VAT, 2018-23
                                                                                                                                                                                                                                                                                                                  • Inflation
                                                                                                                                                                                                                                                                                                                    • Personal care inflation remains low
                                                                                                                                                                                                                                                                                                                      • Figure 120: Italy: consumer prices of personal care items, annual % change, 2013-17
                                                                                                                                                                                                                                                                                                                      • Figure 121: Italy: consumer price inflation on all items and personal care products and services, annual % change, December 2017-December 2018
                                                                                                                                                                                                                                                                                                                    • Channels of distribution
                                                                                                                                                                                                                                                                                                                      • Pharmacies losing out to other specialists
                                                                                                                                                                                                                                                                                                                        • Figure 122: Italy: estimated distribution of spending on beauty and personal care products by channel, 2018
                                                                                                                                                                                                                                                                                                                        • Figure 123: Italy: estimated channels of distribution for beauty and personal care products, 2016-18
                                                                                                                                                                                                                                                                                                                      • Companies and brands – What you need to know
                                                                                                                                                                                                                                                                                                                        • Leading players strengthen their position
                                                                                                                                                                                                                                                                                                                          • Independents and smaller chains struggling
                                                                                                                                                                                                                                                                                                                            • Slow growth in the online market
                                                                                                                                                                                                                                                                                                                              • Leading players
                                                                                                                                                                                                                                                                                                                                • Strong growth seen amongst leading players
                                                                                                                                                                                                                                                                                                                                  • Figure 124: Italy: leading beauty and personal care specialists, estimated sales, 2014-18
                                                                                                                                                                                                                                                                                                                                • Store expansion looks to be slowing
                                                                                                                                                                                                                                                                                                                                  • Figure 125: Italy: leading beauty and personal care specialists, estimated outlet numbers, 2014-18
                                                                                                                                                                                                                                                                                                                                  • Figure 126: Italy: leading beauty specialists, estimated sales per outlet, 2014-18
                                                                                                                                                                                                                                                                                                                                • Market shares
                                                                                                                                                                                                                                                                                                                                  • Ongoing consolidation in the market
                                                                                                                                                                                                                                                                                                                                    • Figure 127: Italy: leading BPC specialists’ estimated shares of all spending on beauty and personal care, 2018
                                                                                                                                                                                                                                                                                                                                    • Figure 128: Italy: leading beauty specialists’ estimated share of all beauty specialists’ sales, 2014-18
                                                                                                                                                                                                                                                                                                                                  • Online
                                                                                                                                                                                                                                                                                                                                    • Online access
                                                                                                                                                                                                                                                                                                                                      • Shopping online
                                                                                                                                                                                                                                                                                                                                        • Figure 129: Italy: online purchases in the last 12 months in key sectors, 2012-17
                                                                                                                                                                                                                                                                                                                                      • Online sales and leading online players
                                                                                                                                                                                                                                                                                                                                          • Figure 130: Italy: beauty retailers: transactional websites, January 2019
                                                                                                                                                                                                                                                                                                                                        • The consumer – What you need to know
                                                                                                                                                                                                                                                                                                                                          • BPC purchasing remains prolific
                                                                                                                                                                                                                                                                                                                                            • Most still shop in-store
                                                                                                                                                                                                                                                                                                                                              • Both specialists and non-specialists remain popular
                                                                                                                                                                                                                                                                                                                                                • Demand for more sustainability
                                                                                                                                                                                                                                                                                                                                                  • Beauty and personal care products purchased
                                                                                                                                                                                                                                                                                                                                                    • More buy personal care than beauty
                                                                                                                                                                                                                                                                                                                                                      • Figure 131: Italy: beauty and personal care products purchased in the last 12 months, October 2018
                                                                                                                                                                                                                                                                                                                                                    • Growth potential in male beauty
                                                                                                                                                                                                                                                                                                                                                      • Figure 132: Italy: beauty and personal care products purchased in the last 12 months, by age and gender, October 2018
                                                                                                                                                                                                                                                                                                                                                    • Online and in-store shopping for beauty and personal care products
                                                                                                                                                                                                                                                                                                                                                      • Channel usage is stable
                                                                                                                                                                                                                                                                                                                                                        • Figure 133: Italy: how beauty and personal care products were purchased in the last 12 months, October 2018
                                                                                                                                                                                                                                                                                                                                                      • Young women most likely to shop online
                                                                                                                                                                                                                                                                                                                                                        • Figure 134: Italy: how beauty and personal care products were purchased in the last 12 months, by age and gender, October 2018
                                                                                                                                                                                                                                                                                                                                                      • Beauty categories most likely to be bought online
                                                                                                                                                                                                                                                                                                                                                        • Figure 135: Italy: how beauty and personal care products were purchased in the last 12 months, by products purchased, October 2018
                                                                                                                                                                                                                                                                                                                                                      • Where beauty and personal care products are purchased
                                                                                                                                                                                                                                                                                                                                                        • Supermarkets most used channel
                                                                                                                                                                                                                                                                                                                                                          • Figure 136: Italy: where beauty and personal care products were purchased in the last 12 months, October 2018
                                                                                                                                                                                                                                                                                                                                                        • Women favour specialists
                                                                                                                                                                                                                                                                                                                                                          • Figure 137: Italy: type of retailer used to purchase beauty and personal care products in the last 12 months, by age and gender, October 2018
                                                                                                                                                                                                                                                                                                                                                        • Customer profiles
                                                                                                                                                                                                                                                                                                                                                          • Figure 138: Italy: where beauty and personal care products were purchased in the last 12 months, by age and income, October 2018
                                                                                                                                                                                                                                                                                                                                                        • Where people shopped and what they bought
                                                                                                                                                                                                                                                                                                                                                          • What consumers bought from the specialists
                                                                                                                                                                                                                                                                                                                                                            • Figure 139: Italy: where beauty and personal care products were purchased in the last 12 months, by products purchased, October 2018
                                                                                                                                                                                                                                                                                                                                                          • What consumers bought from the non-specialists
                                                                                                                                                                                                                                                                                                                                                            • Figure 140: Italy: where beauty and personal care products were purchased in the last 12 months, by products purchased, October 2018
                                                                                                                                                                                                                                                                                                                                                          • Attitudes to shopping for beauty and personal care products
                                                                                                                                                                                                                                                                                                                                                            • Online influence on BPC buying decisions
                                                                                                                                                                                                                                                                                                                                                              • Figure 141: Italy: beauty and personal care buying behaviour, October 2018
                                                                                                                                                                                                                                                                                                                                                            • Women more engaged shoppers
                                                                                                                                                                                                                                                                                                                                                              • Figure 142: Italy: beauty and personal care buying behaviour, by gender, October 2018
                                                                                                                                                                                                                                                                                                                                                            • Older consumers want natural ingredients
                                                                                                                                                                                                                                                                                                                                                                • Figure 143: Italy: beauty and personal care buying behaviour, by age and income, October 2018
                                                                                                                                                                                                                                                                                                                                                              • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                                                                                                                                                                                                                • Abbreviations
                                                                                                                                                                                                                                                                                                                                                                  • Data sources
                                                                                                                                                                                                                                                                                                                                                                  • Spain

                                                                                                                                                                                                                                                                                                                                                                    • Overview
                                                                                                                                                                                                                                                                                                                                                                      • What you need to know
                                                                                                                                                                                                                                                                                                                                                                        • Areas covered in this Report
                                                                                                                                                                                                                                                                                                                                                                          • Executive summary
                                                                                                                                                                                                                                                                                                                                                                            • The market
                                                                                                                                                                                                                                                                                                                                                                              • Consumer spending
                                                                                                                                                                                                                                                                                                                                                                                • Figure 144: Spain: annual % change in total consumer spending on beauty and personal care and total household spending, 2013-18
                                                                                                                                                                                                                                                                                                                                                                              • Sector size
                                                                                                                                                                                                                                                                                                                                                                                • Figure 145: Spain: annual % change in retail sales, 2013-18
                                                                                                                                                                                                                                                                                                                                                                              • Inflation
                                                                                                                                                                                                                                                                                                                                                                                • Figure 146: Spain: consumer price inflation on personal care products and services, annual % change, 2013-18
                                                                                                                                                                                                                                                                                                                                                                              • Channels of distribution
                                                                                                                                                                                                                                                                                                                                                                                • Figure 147: Spain: estimated distribution of spending on beauty and personal care products by channel, 2017
                                                                                                                                                                                                                                                                                                                                                                              • Companies and brands
                                                                                                                                                                                                                                                                                                                                                                                • Leading players
                                                                                                                                                                                                                                                                                                                                                                                  • Market shares
                                                                                                                                                                                                                                                                                                                                                                                    • Figure 148: Spain: leading BPC specialists’ shares of all cosmetics and perfumery specialists’ sales, 2017/18
                                                                                                                                                                                                                                                                                                                                                                                  • Online
                                                                                                                                                                                                                                                                                                                                                                                    • The consumer
                                                                                                                                                                                                                                                                                                                                                                                      • Beauty and personal care products purchased
                                                                                                                                                                                                                                                                                                                                                                                        • Figure 149: Spain: beauty and personal care products purchased, October 2018
                                                                                                                                                                                                                                                                                                                                                                                      • Online and in-store shopping for beauty and personal care products
                                                                                                                                                                                                                                                                                                                                                                                        • Figure 150: Spain: in-store and online buyers of beauty and personal care products, October 2018
                                                                                                                                                                                                                                                                                                                                                                                      • Where beauty and personal care products are purchased
                                                                                                                                                                                                                                                                                                                                                                                        • Figure 151: Spain: where beauty and personal care products were purchased, October 2018
                                                                                                                                                                                                                                                                                                                                                                                      • Attitudes to shopping for beauty and personal care products
                                                                                                                                                                                                                                                                                                                                                                                        • Figure 152: Spain: attitudes to shopping for beauty and personal care products, October 2018
                                                                                                                                                                                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                                                                                                                                                                                        • Issues and insights
                                                                                                                                                                                                                                                                                                                                                                                          • Shoppers showing more interest in environmental and ethical issues
                                                                                                                                                                                                                                                                                                                                                                                            • The facts
                                                                                                                                                                                                                                                                                                                                                                                              • The implications
                                                                                                                                                                                                                                                                                                                                                                                                • The opportunity to consolidate the role of physical stores
                                                                                                                                                                                                                                                                                                                                                                                                  • The facts
                                                                                                                                                                                                                                                                                                                                                                                                    • The implications
                                                                                                                                                                                                                                                                                                                                                                                                      • The market – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                        • Personal care spending growing at above-average rate
                                                                                                                                                                                                                                                                                                                                                                                                          • Fragrances is biggest and fastest-growing sector
                                                                                                                                                                                                                                                                                                                                                                                                            • Specialist retailers see modest sales growth
                                                                                                                                                                                                                                                                                                                                                                                                              • Inflation has limited impact on beauty
                                                                                                                                                                                                                                                                                                                                                                                                                • Specialists battling hypermarkets/supermarkets
                                                                                                                                                                                                                                                                                                                                                                                                                  • Consumer spending
                                                                                                                                                                                                                                                                                                                                                                                                                    • Personal care spending growing at above-average rate
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 153: Spain: consumer spending on beauty and personal care (incl. VAT), 2013-18
                                                                                                                                                                                                                                                                                                                                                                                                                    • Product market breakdown
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 154: Spain: main beauty and personal care markets, spending (incl. VAT), 2013-18
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 155: Spain: main beauty and personal care markets, forecast spending (incl. VAT), 2019-22
                                                                                                                                                                                                                                                                                                                                                                                                                    • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 156: Spain: health & beauty specialists, sales, excl. VAT, 2014-18
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 157: Spain: health & beauty retailers, forecast sales, excl. VAT, 2019-23
                                                                                                                                                                                                                                                                                                                                                                                                                    • Inflation
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 158: Spain: consumer prices of personal care items, annual % change, 2013-18
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 159: Spain: consumer price inflation on personal care products and services, annual % change, January 2017-November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                    • Channels of distribution
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 160: Spain: estimated distribution of spending on beauty and personal care products by channel, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 161: Spain: estimated distribution of spending on beauty and personal care products by channel, 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                    • Companies and brands – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                      • Industry takes stock after frenetic period of consolidation
                                                                                                                                                                                                                                                                                                                                                                                                                        • Market leader Clarel under pressure and up for sale
                                                                                                                                                                                                                                                                                                                                                                                                                          • Competition intensifies
                                                                                                                                                                                                                                                                                                                                                                                                                            • Online sales still relatively undeveloped
                                                                                                                                                                                                                                                                                                                                                                                                                              • Leading players
                                                                                                                                                                                                                                                                                                                                                                                                                                • Industry takes stock after frenetic period of consolidation
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 162: Spain: leading beauty and personal care specialists, sales, 2014/15-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 163: Spain: leading beauty and personal care specialists, outlets, 2014/15-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 164: Spain: leading beauty specialists, sales per outlet, 2015/16-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 165: Spain: leading specialists’ shares of all cosmetics and perfumery specialists' sales, 2014/15-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Online activity
                                                                                                                                                                                                                                                                                                                                                                                                                                      • Shopping online
                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 166: Spain: online purchases in the last 12 months in key sectors, 2008-18
                                                                                                                                                                                                                                                                                                                                                                                                                                      • Online sales
                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 167: Spain: estimated online sales by product category, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                      • Leading online players
                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 168: Spain: beauty retailers: transactional websites, January 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                      • The consumer – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                        • Older women are important buyers
                                                                                                                                                                                                                                                                                                                                                                                                                                          • Just a quarter buy online
                                                                                                                                                                                                                                                                                                                                                                                                                                            • Supermarkets/hypermarkets are the most popular places to buy
                                                                                                                                                                                                                                                                                                                                                                                                                                              • Environmental and ethical concerns coming to the fore
                                                                                                                                                                                                                                                                                                                                                                                                                                                • Beauty and personal care products purchased
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Beauty and personal care products have almost universal purchasing
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 169: Spain: beauty and personal care products purchased in the last 12 months, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Fragrances/aftershaves most likely to be bought by men
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 170: Spain: beauty and personal care products purchased in the last 12 months, by gender, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Older women are important buyers of beauty and personal care products
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 171: Spain: beauty and personal care products purchased, by age group, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online and in-store shopping for beauty and personal care products
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Little change in online shopper numbers
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 172: Spain: in-store and online buyers of beauty and personal care products, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Women are bigger online shoppers
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 173: Spain: in-store and online buyers of beauty and personal care products, by gender, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Family drives online purchasing
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 174: Spain: in-store and online buyers of beauty and personal care products, by age group, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Online sales in some segments being boosted by tutorials
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 175: Spain: beauty and personal care products bought in the last 12 months, in-store vs online, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Where beauty and personal care products are purchased
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Supermarkets/hypermarkets are the dominant source of purchase
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 176: Spain: where beauty and personal care products were purchased, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Primor’s appeal is with younger customers
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 177: Spain: where beauty and personal care products were purchased, by age and income, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Where people shopped and what they bought
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Products and specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 178: Spain: BPC products purchased by retailer used, deviation from average: specialists, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 179: Spain: BPC products purchased by retailer used, deviation from average: non-specialists, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Attitudes to shopping for beauty and personal care products
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Environmental and ethical concerns coming to the fore
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 180: Spain: attitudes to buying beauty and personal care products, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Interest in ethical production and natural ingredients is broadly spread
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 181: Spain: attitudes to buying beauty and personal care products, by age group, October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Abbreviations
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Data sources
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK

                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Overview
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Products covered in this Report
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Executive summary
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • The market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Growth in the beauty market projected to continue
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 182: Market size and forecast for consumer spending on beauty and personal care products (including VAT), 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Robust demand for beauty boosts health and beauty sector
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 183: Health and beauty specialist retailers sales (including VAT), 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Companies and brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Boots suffers from its maturity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • AS Watson performing well
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 184: Leading specialist and non-specialist retailers’ estimated market shares, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Grocers losing market share
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Boots and Superdrug most trusted retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 185: Attitudes towards and usage of selected brands, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The consumer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Changes in beauty purchasing habits
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 186: Beauty and personal care items purchased in the last 12 months, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • An ongoing preference for mass-market brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 187: Beauty and personal care brand types purchased in the last 12 months, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Supermarkets continue to draw in consumers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 188: Where they purchased beauty and personal care items in the last 12 months, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Most shop online because it is easier to browse
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 189: Why they shop online for beauty and personal care, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • A lack of experience hinders the online market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 190: Why they don’t shop online for beauty and personal care, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Mass-market brands need to innovate
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 191: Beauty and personal care correspondence analysis, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Price comparison habits will threaten margins
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 192: Beauty and personal care purchasing behaviours, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Issues and Insights
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Price wars: the next steps to ease the downward pressure
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Sustainability: more informed consumers will demand more from BPC retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • The shift online: how multichannel retailers can fight back
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • The facts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • The implications
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • The market – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Spending on BPC continues to rise
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Beauty fuelling market growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Specialists outperform the wider market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Online penetration increases
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Uncertainty hits consumer confidence
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Market size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK beauty and personal spending up 1.4% in 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 193: Market size and forecast for consumer spending on beauty and personal care products (including VAT), 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 194: Market size and forecast for consumer spending on beauty and personal care products (including VAT), at current and constant prices, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • What might Brexit mean for the UK BPC market?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Forecast methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market segmentation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Growth in beauty spending remains robust during 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 195: Market size and forecast for consumer spending on beauty products (including VAT), 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 196: Market size and forecast for consumer spending on beauty products (including VAT), at current and constant prices, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Beauty category performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 197: Consumer spending on beauty products (including VAT), by category, 2014-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Colour cosmetics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Fragrances
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Facial skincare
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Hand, body and footcare
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Spending on personal care thought to have fallen in 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 198: Market size and forecast for consumer spending on personal care products (including VAT), 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 199: Market size and forecast for consumer spending on personal care products (including VAT), at current and constant prices, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Personal care category performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 200: Consumer spending on personal care products (including VAT), by category, 2014-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Haircare
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Oral hygiene
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Soap, bath and shower
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Shaving and hair removal
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Deodorants
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Hair colourants
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Suncare
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Forecast methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Health and beauty specialists outperforming
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 201: Health and beauty specialists’ sales (including VAT), 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 202: Health and beauty specialists’ sales (including VAT), at current and constant prices, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Notes on Mintel’s sector size
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Outlet and enterprise numbers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 203: Health and beauty specialists’ outlet numbers, 2014-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 204: Health and beauty specialists’ enterprise numbers, 2014-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Forecast methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Online spending rises 6% in 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 205: Estimated market size and forecast for online consumer spending on beauty and personal care products, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 206: Estimated market size and forecast for online consumer spending on beauty and personal care products, at current and constant prices, 2013-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Online channels of distribution
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 207: Estimated distribution of online spending on beauty and personal care products, 2016-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Forecast methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Channels to market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Grocers continue to lose market share
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 208: Estimated distribution of spending on beauty and personal care products, 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 209: Estimated distribution of spending on beauty and personal care products (including VAT), 2016-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Market drivers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • BPC inflation remains low
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 210: Consumer price inflation, 2007-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Prices of BPC products continue to fall
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 211: Consumer price inflation, October 2017-August 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Real wages return to growth in 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 212: Real wage growth – Average weekly earnings vs inflation, January 2014-October 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Consumer confidence hit by Brexit
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 213: Consumer financial confidence, January 2016-November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • An ageing population is an opportunity for BPC retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 214: Trends in the age structure of the UK population, 2016-26
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 215: Breakdown of trends in the age structure of the UK population, 2016-26
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Fewer people saving, more going out
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 216: Trends in what extra money is spent on, November 2017 and November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Gifting remains important
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 217: Beauty and personal care items bought as a gift in the last 12 months, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Stores are a primary source of information
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 218: Sources of beauty and personal care information, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Demand for personalisation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 219: Interest in beauty and grooming personalisation services, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Companies and brands – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Boots struggles in the face of intense competition
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • AS Watson’s performance bolstered by Savers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Grocery multiples continue to hold a dominant position
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Lush and The Body Shop benefit from ethical associations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Total beauty advertising spend down 7.2%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Leading specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Savers boosts AS Watson growth this year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Boots regarded as less innovative
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Leading specialists by sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 220: Leading specialist retailers’ net revenues (excluding VAT), 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Online beauty retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 221: Leading online/home shopping specialist retailers’ net revenues (excluding VAT), 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Leading pharmacies by sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 222: Leading pharmacy chains’ net revenues (excluding VAT), 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Outlet numbers and sales per outlet
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 223: Leading specialist retailers’ outlet numbers, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 224: Leading specialists retailers’ estimated sales per outlet, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Operating profits and margins
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 225: Leading specialist retailers’ operating profits, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 226: Leading specialist online/home shopping retailers’ operating profits, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 227: Leading specialist retailers’ operating margins, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 228: Leading specialist online/home shopping retailers’ operating margins, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Leading non-specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Beauty is becoming a mainstream focus for the grocery multiples
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Department stores a mixed performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 229: Leading non-specialist retailers’ estimated sales growth, by segment, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Aldi and Lidl continue to strengthen position
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Amazon’s beauty disruption begins
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 230: Leading non-specialist retailers’ estimated beauty and personal care goods sales (excluding VAT), 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Market remains fragmented
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 231: Leading specialist and non-specialist retailers’ estimated market shares, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 232: Leading specialist and non-specialist retailers’ estimated market shares, 2015-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Note on market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Launch activity and innovation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • YSL launches beauty pop-up at Heathrow
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Space NK launches Drunk Elephant in the UK
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Primark’s ‘PS’ cruelty-free beauty products
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Debenhams redesigns its beauty department in Watford
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Wow How has released a new virtual beauty try-on app
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Avon gets personal
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 233: Avon’s subscription service, Letterbox Loves, June 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • L’Oréal purchases AI Beauty Company
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Coty x Amazon Echo
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • On-demand bespoke lipstick
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Boy de Chanel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Unilever launches 'natural' shampoos and soaps to attract Millennials
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Packaging-free foundation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 234: Lush’s Slap Stick packaging-free foundation, June 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • L’Oréal investing in Natural cosmetics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Advertising and marketing activity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Total beauty advertising spend down 7.2%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 235: Recorded above-the-line advertising expenditure on beauty and personal care, total market, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 236: Recorded above-the-line, online, display and direct mail total advertising expenditure on beauty and personal care, by leading retailers, 2015-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Key campaigns
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Boots celebrates mothers with ‘She’s me mum’ seasonal campaign
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • L’Occitane takes a new marketing approach
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Digital overtakes press in advertising spend
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 237: Recorded above-the-line advertising expenditure percentage on beauty and personal care, by media type, total market, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Nielsen Ad Intel coverage
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Brand research
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Brand map
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 238: Attitudes towards and usage of selected brands, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Key brand metrics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 239: Key metrics for selected brands, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Brand attitudes: Lush seen as worth paying more for
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 240: Attitudes, by brand, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Brand personality: L’Occitane viewed as the most exclusive
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 241: Brand personality – Macro image, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Boots perceived as being welcoming and reliable
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 242: Brand personality – Micro image, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Brand analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Boots is the most trusted retailer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 243: User profile of Boots, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Superdrug perceived as offering good value
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 244: User profile of Superdrug, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Lush viewed as being innovative
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 245: User profile of Lush, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • The Body Shop perceived as having great customer service
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 246: User profile of The Body Shop, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • L’Occitane has a strong brand DNA
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 247: User profile of L’Occitane, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Kiko Milano viewed as fun
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 248: User profile of Kiko Milano, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Space NK has excellent customer experience
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 249: User profile of Space NK, December 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Space allocation summary
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 250: Leading health and beauty retailers: health and beauty products estimated space allocation, January 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Superdrug trialling Botox and cosmetic procedures in-store
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • The Body Shop deploying personalisation services in stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Department stores new beauty hall concepts to attract shoppers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Supermarkets in-store beauty makeover
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 251: Leading health and beauty retailers: Health and beauty products estimated detailed space allocation, January 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 252: Leading health and beauty retailers: Health and beauty products estimated detailed space allocation, January 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Health and beauty space as a percentage of total floor space in non-specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 253: Non-specialists: estimated health and beauty space as a percentage of total floor space, January 2019
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • The consumer – What you need to know
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Fewer people shopping for beauty
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Value brands popular when buying toiletries
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • An uplift in online purchasing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Convenience and price drive shoppers online…
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • …but experience also keeps people buying in-store
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Mass-market brands seen as good value
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Savvy shoppers price compare
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What they buy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Purchasing levels remain high
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 254: Beauty and personal care items purchased in the last 12 months, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • A dip in the number of consumers buying beauty products
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 255: Beauty products purchased in the last 12 months, by age and gender, October 2017 and November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Signals that consumers are using fewer products
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 256: Repertoire of beauty and personal care items purchased in the last 12 months, October 2017 and November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Brand types purchased
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Fragrances remain most purchased prestige products
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 257: Beauty and personal care brand types purchased in the last 12 months, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • How and where they shop
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • More consumers are shopping online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 258: How they purchased beauty and personal care items in the last 12 months, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Supermarkets remain dominant
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 259: Where they purchased beauty and personal care items in the last 12 months, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Boots is the most used retailer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 260: Where they purchased beauty and personal care items in the last 12 months, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online-only players strengthen their position
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 261: Where they purchased beauty and personal care items in the last 12 months, October 2017 and November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Discounters appeal to older consumers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 262: Where they purchased beauty and personal care items in the last 12 months, by age and income, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Make-up purchasing moving online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 263: Beauty and personal care items purchased in the last 12 months, by how they shopped, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Most only shop with one or two different retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 264: Repertoire of where they purchased beauty and personal care items in the last 12 months, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Reasons for shopping online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Consumers think prices online are cheaper
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 265: Why they shop online for beauty and personal care, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Reasons for not shopping online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Enjoyment keeps people shopping in-store
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 266: Why they don’t shop online for beauty and personal care, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Brand perceptions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Prestige brands are considered to be overrated
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 267: Beauty and personal care correspondence analysis, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 268: Beauty and personal care correspondence analysis, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Purchasing behaviour
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Natural ingredients remain popular
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 269: Beauty and personal care purchasing behaviours, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Women more interested in sustainability
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 270: Beauty and personal care purchasing behaviours – Agreement with statements about sustainability, by gender, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Older consumers show more brand loyalty
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 271: Beauty and personal care purchasing behaviours – Agreement with statements about loyalty, by age and gender, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Young consumers need more guidance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 272: Beauty and personal care purchasing behaviours – Agreement with statements about product discovery and preferences, by age, November 2018
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Appendix – Data sources, abbreviations and supporting information
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Abbreviations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Consumer research methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Appendix – Market size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Forecast methodology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Best- and worst-case forecasts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Market size
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 273: Market size and forecast for consumer spending on beauty and personal care products (including VAT), best- and worst-case forecast, 2018-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Sector size
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 274: Health and beauty specialists’ sales (including VAT), best- and worst-case forecast, 2018-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Online market size
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 275: Estimated market size and forecast for online consumer spending on beauty and personal care products, best- and worst-case forecast, 2018-23
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Acqua & Sapone

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online site highlights in-store promotions but is missing out on online sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Active social media platforms
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 276: Acqua & Sapone: group sales performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 277: Acqua & Sapone: outlet data, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • AS Watson

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Diverse collection of businesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Recent focus on service and online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Marionnaud a poor fit for AS Watson structure
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Where next?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 278: AS Watson (Europe): group financial performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 279: AS Watson (Europe): outlet data, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Rossmann
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Kruidvat and Superdrug
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Savers and Prijsmepper
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Other businesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 280: AS Watson Europe, operating companies, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The Body Shop

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • New owner reinforces values
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • New brand ambassadors could personalise ethical and green appeal
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Missing out on new product benefits
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Continued investment needed in physical retail
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Broadening appeal to older consumers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 281: The Body Shop: group financial performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 282: The Body Shop: estimated UK sales performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 283: The Body Shop: outlet data, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Product mix
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 284: The Body Shop: sales, by category, 2017
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Clarel

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Overstored?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 285: Clarel, gross sales, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 286: Clarel: outlet data, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Debenhams

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • New beauty hall design to attract shoppers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Strengthening beauty offering, partnering with Estée Lauder to launch #Beautyhub
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Rewarding socially-engaged beauty consumers with discounts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Exploring different beauty product category opportunities
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 287: Debenhams: group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 288: Debenhams: outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • dm-Drogerie Markt

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Bloggers, influencers and conventions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • New products initiative
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Modernising and reshaping existing shops for a more enjoyable in-store experience
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Targeting the Chinese consumer market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 289: dm-Drogerie Markt: group sales performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 290: dm-Drogerie Markt: outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Douglas Group

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • New CEO’s bold new strategy to rejuvenate and reposition the brand more upmarket
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Modernising bricks-and-mortar stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Website enhancements help grow online sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Innovative and exclusive product mix
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • High value of Beauty Card members
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 291: Douglas Group: group sales performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 292: Douglas Group: estimated outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • The Fragrance Shop

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Buy now, pay later payment scheme
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • 'Sniff Bar' pop-up’s
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Black Friday sales push
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 293: The Fragrance Shop: group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 294: The Fragrance Shop: outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • House of Fraser

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Ambitious plan to transform House of Fraser into Harrods of the High Street
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Strained supplier relations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Nationwide shopping event
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 295: House of Fraser Plc: group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 296: House of Fraser Plc: outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • John Lewis

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • New concierge-style beauty service concept
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Capitalising on vegan beauty trend
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Preparing to launch a personalised Beauty reward programme
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Expanded click-and-collect options
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 297: John Lewis Plc (department store): group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 298: John Lewis Plc (department store): outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Kiko Milano

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Hits the buffers in key markets including US, UK and Germany
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Injection of capital will allow it to retarget its expansion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Online offers wide international coverage but some stores will be necessary
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 299: Kiko Milano: group financial performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 300: Kiko Milano: outlet data, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Lush Retail Ltd

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Lush responds to consumer demand with its ‘Community Products’
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Lush goes packaging-free
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Lush enables customers to make their own bath bombs
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Wales’ first Lush Spa Shop opens in Cardiff
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 301: Lush Retail Ltd: group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 302: Lush Retail Ltd: outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Müller

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Succession solution could lead to greater dynamism
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Heading off discount grocery threat is a challenge
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Likely to move ahead in online retail
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Assortment facing much-needed shakeup
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 303: Müller: group financial performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 304: Müller: outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Rossmann

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Slow pace of refurbishment holds dangers for space productivity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Search for differentiation moves away from price
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Connecting with younger customers remains a priority
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 305: Rossmann: group sales performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 306: Rossmann: outlet data, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Sephora

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Continuous product launches help drive success
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Pursuing new expansion in Germany and Russia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Use of technology and service drives store appeal
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 307: Sephora: group financial performance, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 308: Sephora: outlet data, 2013-17
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Walgreens Boots Alliance

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Few tangible signs of merger benefits
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK and European markets too mature to be the strategic focus
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Online under pressure from all sides
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 309: Walgreens Boots Alliance (UK and Europe): group sales performance, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 310: Walgreens Boots Alliance (UK and Europe): outlet data, 2013/14-2017/18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Yves Rocher

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • What we think
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Focused on creating a more immersive in-store experience
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Creative pop-up store and bespoke off-site experiences
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Acquisition to boost market penetration outside the euro area
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Alternative packaging breakthrough to reduce ecological footprint
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Company background
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 311: Rocher Groupe: estimated group sales performance, 2014-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 312: Rocher Groupe: estimated outlet data, 2014-18
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retail offering

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                About the report

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The Consumer

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  What They Want. Why They Want It.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The Competitors

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Who’s Winning. How To Stay Ahead.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The Market

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Size, Segments, Shares And Forecasts: How It All Adds Up.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The Innovations

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  New Ideas. New Products. New Potential.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The Opportunities

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Where The White Space Is. How To Make It Yours.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The Trends

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  What’s Shaping Demand – Today And Tomorrow.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                Trusted by companies. Big and small.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • bell
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • boots
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • google
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • samsung
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • allianz
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • kelloggs
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • walgreens
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • redbull
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • unilever
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Harvard
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • pinterest
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • new-york-time