BEAUTY BACKED TRUST NEWS
Beauty and nail salons helping to revive high streets
August 30, 2022

Independent beauty salons are giving British high streets a glow up, according to new data analysed by SME Insurer Superscript.

The data, sourced from Local Data Company, has identified the UK’s top growing independent retail categories on our high streets:

Table: Top five growing independent retail categories across GB by net change in units, 2017-2022 (Source: Local Data Company)

In a survey of 1,500 people by Superscript, over half of Brits said they are more likely to visit a health and beauty shop on the high street than any other type of independent retailer, while one in four confirmed that salons will continue to bring them to the high street despite the rising costs of living.

One in five people revealed that they like to prioritise their spare cash on looking and feeling good – and this comes as consumer spend in the UK health and beauty market is set to return to 2019 levels by 2023.

It seems the connection and social aspect of visiting beauty services is bringing a sense of community back to the high street, with Brits wishing to be made to feel welcome (51%) and preferring to get to know staff on a personal level (43%) when they visit.

Meanwhile, a sense of loyalty to beauty therapists (37%), and the ability to catch up and have a chat (33%) ranked most highly in reasons these outlets are growing so much in popularity.

This comes as 65% of people state that independent retailers have made their local area feel more like a community.

Cancer charity Look Good Feel Better is also encouraging the beauty industry’s involvement in the community with an appeal for beauty professionals to support those undergoing cancer treatment.

Cameron Shearer, chief executive at Superscript, commented, “Local independent retailers are the future of our high streets. Our study found that, despite the increasing cost of living, 66% of Brits are continuing to go to the high street primarily to support local business owners.

“This suggests that the longevity and future of the high street depends on the human connection that retailers can foster with the public. This is why local independents – like beauty salons – are best placed to thrive, while chain department stores will have to find other ways to appeal.”

The commitment deepens, as 92% of Brits admit they are keen to support independent retailers by backing government and council initiatives such as rent subsidiaries, tax relief and low interest-rate business loans.

Currently, eligible small and medium businesses can apply for business rates relief for their property through the government's £1.7 billion 2022/23 Retail, Hospitality and Leisure Relief Scheme.

Original article written by Ellen Cummings and featured here

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