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Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a member to access this data or take out a free 30 day membership trial now.
Health & Beauty sales increased 00% YoY, according to the Retail Economics Retail Sales Index (value, non-seasonally adjusted).
This was the second consecutive month sales performance has slowed, albeit against a strong rise a year ago (00%) when demand was supported by easing lockdown restrictions and the reopening of non-essential retail and hospitality venues.
Notably, the slowdown in May was the weakest performance since March 2021. Taking into account rising levels of inflation suggests that volume growth remained firmly in negative territory.
Performance continued to be supported by the return to office working, weddings, and other social events.
Both skincare and fragrances were said to have been popular during the month. The first restriction-free summer in three years also boosted demand for sun cream.
Spending on ‘social’ components of the consumer basket (e.g. hotels, restaurants and air transport) rose by 00% YoY in May, and is 00% above pre-pandemic levels, according to Bank of England data. This is significantly ahead of overall consumer spending which rose by 00%, pulled down by a 00% YoY decline in ‘delayables’ (e.g. furniture, households goods, luxury items).
The cost of living crisis continued to dominate in May with affordability concerns at the forefront of consumers minds. Heading into the third quarter of the year, the outlook for the retail sector has become increasingly challenging.
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Spending on social activities supports demand
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Retail Economics publishes monthly Retail Sector Reports for the UK Food & Grocery sector giving you actionable insights for your business.
It provides in-depth analysis of the latest macroeconomic and consumer trends affecting the UK Health & Beauty sector including market size estimates for: Cosmetics, Toiletries, OTC medication, Fragrances, Hair Products, Paper Products, Babycare, Personal Grooming and more.