While creatives look at visual trends, in an industry such as ours it’s imperative to be aware of the changes in the business trends too.
I’m always fascinated by statistics so I would love to share a few new ones with you.
The industry has seen a shifting in trends with hair color being the front runner for a few years now with cutting and styling seeing a decline. However, statists now show that “‘men’s lighting’ has had the largest growth out of all salon services. Other growth areas are blayage (that’s a no brainer of course and thinning hair treatments.
A shift in the marketing trends naturally happened as a social media grew and digital marketing took over tradition forms of marketing. However, what’s fascinating is there recently has been a triple digit growth in gift cards! So jump on board and get innovative with marketing your gift cars on a regular basis not just Christmas.
From a business perspective the biggest disruption is coming from individuals renting suites/booths/chairs all over the world. This is very obvious in the U.S. and also growing within Asia.
Ask any independent renter why they chose the path of contracting and the most common answers you will hear is that they were seeking freedom. Does booth renting still seem like a good idea to you?
Choosing an employee-based salon provides more motivation, culture, and education. Independent contracting, stylists have to be on top of their game constantly and find motivation within themselves and self-fund all expenditures and education.
Since mobbing to America I have delved into how prevalent is the suite/booth/chair rental and how fast it is growing?
According to studies in the US.S around 50% of salons offer some form of the rental model. The better managed, private and corporate chains and booth rental salons combined will satisfy nearly 75% of all U.S. salon consumers market needs.
So how is this effecting the industry? Consumers actually perceive little difference or value between salon types that provide consistent stylist skills, ambiance and service. Now, clients are looking for something more curated and special, especially the luxury client, who wants a more personalized service.
Manufactures and distributors are changing their sales and marketing strategies in order to services independent stylists because purchasing habits and inventory needs are distinctly difference from the traditional salon model.
A high profile NYC salon recently closed due the changes in staff’s needs after 13 years of being at the forefront of our industry because the owners acknowledge the rapidly changing salon environment. This Is a reflection that is time to reinvent and move with the times, or get left behind.
Therefore, I ask will this business model grow in Australia like it has in the U.S.? Well apparently in 3 years’ time, by 2020 – 50% of the hair and beauty industry ‘globally’ will be self-employed! … Are you ready for what lies ahead?