The Beauty Battleground: Winning in the Services Arena
Posted by freeamfva on July 8th, 2024
The Beauty Battleground: Winning in the Services Arena
The beauty industry, especially beauty services, was significantly impacted by the COVID-19 pandemic. However, it is now bouncing back with several important trends:To get more news about 부산수영구출장샵, you can visit our 24-call.net official website.
Diversification: Beauty players are offering both products and services.
Specialization: Customers prefer specialized services over generic ones.
Advanced Procedures: Growth in nonsurgical skin services and specialized hair services.
Customer Experience: Increased focus on enhancing customer experiences.
Labor Market Shifts: Changes in the availability and costs of beauty service professionals.
Market Insights:
The beauty services market includes hair, skin (including injectables, makeup, tanning, and waxing), nails, and beauty merchandise sold in salons.
Before the pandemic, the market grew at a CAGR of 4% between 2017 and 2019.
Despite pandemic challenges, sales rebounded to about 70% of prepandemic levels in 2021, with an estimated market value of billion.
We predict it will take another six years for sales to fully recover, with strong growth in specialized offerings.
Companies looking to consolidate or expand in this dynamic industry should understand these trends and adapt their strategies accordingly. Salon owners can diversify revenue streams by expanding product sales and upskilling employees. Retailers can deepen customer relationships by creating unique experiences. Those slow to adapt risk falling behind.
