2014-04-30 04:29:01 - Health and Beauty Specialist Retailers in Ireland - a new market research report on companiesandmarkets.com
Ireland´s unfavourable economic landscape continued to have a major impact on the fortunes of the company´s health and beauty specialist retailers during 2013. The imposition of further austerity measures and widespread consumer concern about the impact of rising taxes and various charges on disposable income levels placed additional pressure on retail spending. Downtrading remained a prevailing trend across the retailing industry as cash-strapped Irish consumers sought opportunities to obtain the best value for money possible as demand increased for private label products and low-cost brands. In addition, the shift towards lower-priced supermarkets, discounters and internet retailing continued to have a major impact on the performance of health and beauty specialist retailers throughout 2013.
Boots the Chemists led health and beauty specialist
retailers in Ireland in 2013 with a 15% value share. The Boots brand is well established and very well trusted in Ireland and the company has an extensive network of retail outlets across the country. Boots has also benefitted significantly from its constant discounting strategies, price promotions and its loyalty card scheme, which has proved particularly popular during the economic recession as Irish consumers have reduced their spending substantially. Boots tends to offer a very wide variety of products at a wide range of price points, with the company also regularly adding new products lines and towards the end of the review it expanded the range of grocery products it offers, a move which has helped the retailer to maintain its very strong position in health and beauty specialist retailers in Ireland.
Health and beauty specialist retailers in Ireland is expected to decline in constant value at a CAGR of -1% over the forecast period. Ireland´s path to economic recovery is set to be a difficult one, with consumer spending likely to remain restrained for some time to come and although government announcements indicate that the need for harsh austerity budgets is falling, there remains widespread cynicism and disbelief in this among the Irish population. Value-for-money and cost-cutting are likely to remain foremost in consumer minds for the duration of the forecast period, a situation which is expected to have a negative impact on the performance of health and beauty specialist retailers whilst encouraging more Irish consumers to seek products at lower prices online.
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