Local Data Company has published its FY 2023 report, capturing the highs and lows of the high street over the past year. Here’s how personal care units fared…
Each year, Local Data Company (LDC) releases its Fiscal Year report which sheds light on the openings and closures across UK high-streets. Beauty locations feature heavily in the report, given their influence in the nation’s favourite shopping areas.
2023 was not an easy year for businesses cross-industry, with multiple sectors seeing a dramatic rise in closures across Great Britain. In fact, closures increased by 6,820 year on year, resulting in the highest annual closures figure recorded in the last decade.
More optimistically though, new openings have seen a 5% year-on-year increase. Retail parks are to thank for this increase being the only type of location to see uprisings.
The personal care sector has remained resilient against this backdrop, with barbers, nail salons and beauty salons taking three of the top ten spots of fastest growing categories.
Barbers still hold the fort for the fastest growing category across Great Britain, following leading performance over the past two years. Impressively, the sector returned to pre-pandemic standards of growth in 2023, with a net increase of 665 units.
In contrast, the high street witnessed an emphasised decline in chemists and drugstores, experiencing a drop of 459 units. This came as a result of the major closures of stores from household favourites such as Boots and Wilkos.
Hair & beauty salons and hairdressers were similarly impacted by the instability of the past year. Hairdressers particularly suffered as a result of rising costs and fewer clients, seeing a decline of 752 units.
Download the FY 2023 report here.
