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Brexit Will Have Good And Bad Impact On UK's Beauty And Personal Care Market, Mintel Analyst Says

August 11, 2016: 12:00 AM EST
Consumers are expected to reduce their spending in time of uncertainty following the UK's vote to leave the European Union, according to Mintel senior personal care analyst Roshida Khanom. Although Brexit's impact on the beauty and personal care industry remains to be seen, Khanom expects the luxury segment to get a boost from tourists attracted by the sharply devalued pound. Also, the UK's cheaper currency will strengthen exports of local brands, which become more affordable for businesses and consumers outside the country. Brexit's impact is also expected to drive growth for online shopping, as UK consumers seek to avoid the rising costs of importation.
Lucy Whitehouse , "Exclusive interview - Mintel: exclusive expert view on Brexit and beauty", Cosmetics Design , August 11, 2016, © William Reed Business Media SAS
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