THE VALUE OF BEAUTY

THE VALUE

OF BEAUT Y

This report was produced by Oxford Economics. The company was founded in 1981 as a commercial venture with Oxford University's business college to provide economic forecasting and modelling to UK companies and financial institutions expanding abroad. Since then, we have become one of the world's foremost independent global advisory firms, providing reports, forecasts and analytical tools. Our best-in-class global economic and industry models and analytical tools give us an unparalleled ability to forecast external market trends and assess their economic, social and business impact.

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AN OXFORD ECONOMICS REPORT ON THE ECONOMIC IMPACT

OF THE BEAUTY INDUSTRY

COMMISSIONED BY THE BRITISH BEAUTY COUNCIL

MAY 2019

? BRITISH BEAUTY COUNCIL

FOUNDING PATRONS

VALUE OF BEAUTY

? 4 ?

VALUE OF BEAUTY

CONTENTS

Executive summary 1. The definition of beauty

1.1 Defining the industry 1.2 Core sectors of the beauty industry 1.3 Boosting economic capacity 1.4 Structure of this report

2. The value of beauty

2.1 Consumer spending in 2018

3. The beauty of beauty

3.1 Direct impacts

3.2 Total economic contributions 4. The new beauty economy

4.1 Education and skills training

4.2 Digital influencers 5. Conclusion Appendix 1: Comprehensive results Appendix 2: Methodology

? BRITISH BEAUTY COUNCIL

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