Nails and tanning drive treatments market growth
The value of the professional beauty treatments market has grown by 17% over the last year and is now worth £1.8bn annually. This boom has been driven by a steep increase in nails and tanning treatments, as well as discounted treatment packages, according to new figures from market analyst Kantar Worldpanel. In the 12 months to February 19, 2012, women spent almost a third more on tanning treatments. The nail care market is now worth £520m and has seen a 24% increase in value in the past year, according to the figures. Treatment packages that offered a discount compared with purchasing the treatments individually saw a 35% increase in sales in the past year. UK women spent 17% more on eyelash and eyebrow treatments and 21% more on body treatments. 30 -34 year olds were the highest spenders with an average of over £126 spent per year. Tim Nancholas, strategic insight director at Kantar Worldpanel, said the figures showed 'a phenomenal growth rate' and demonstrated the increasing importance of this sector to our economy. He added: 'The speed at which this market is growing shows its enormous potential and the need to recognise beauty salons, tanning shops and nail bars as serious, lucrative businesses. It's also a sector where independents dominate, with beauty salons making up over 52% of the market - a positive for those worried about 'clone' high streets.'