Although 88 percent of consumers expect to learn about products as part of the salon experience, 71 percent of salon clients were not offered a product introduction—one of the eye-opening revelations from the landmark Business of Beauty study presented at the Professional Beauty Association’s Symposium.
That said, 47 percent of consumers cite their salon’s stylist as their most trusted source for product information.
“Even though overall sales of beauty products continue to grow, the proportion purchased in the salon is declining while sales are increasing for supercenters and discount centers,” —stressed retail expert Neil Stern, who presented the study’s findings.
Furthermore, Stern demonstrated how a 3-percent increase in overall retail sales would mean an additional $30,000 in revenue and $15,000 in incremental profits to a salon.
The total sales for hair product in the U.S. are $8.6 billion—currently salon sales comprise 1/3 of that total or $2.8 billion.
Retail Myth: The internet is stealing sales.
Retail Reality: Only 2 percent of the $43 billion worth of beauty products sold are purchased online.
It seems many salon and spa owners were more than ready to kick 2017 to the curb. Some of our Salon Today 200 honorees talk about why 2017 was such a tough year, and how that makes capturing an honor in 2018 so very sweet.
On the 12th Day of the 12 Days of the Salon Today 200, we wrap it all up with the second half of the 2018 honorees in Growth. These salons and spas worked hard to realize gross sales growth of 10.41% and above between 2015 and 2016. Meet these great salons!
On the 11th Day of the Salon Today 200, we celebrate the first half of the 2018 honorees in Growth. These salons and spas have learned to master a number of best business practices to continually grow their service and retail dollars.
On the 10th day of the 12 Days of the Salon Today 200, we celebrate the salons and spas that know a new client is silver, while a retained one is gold. These salons diligently developed programs to drive prebooking rates, referrals and retention.
On the 8th day of the 12 Days of the Salon Today 200, we celebrate the salons and spas who rally around retail, creating beautiful displays and enticing promotions, as well as answering clients' needs with education and recommendations.
On the 7th day of the 12 Days of the Salon Today 200, we celebrate the salons and spas who know inventory management is the supreme balancing act. Keep too much stock and their cash is tied up in the stockroom, keep too little and they miss valuable sales. Meet the 2018 honorees in Inventory Management.
On the 6th day of the Salon Today 200, we celebrate the salons and spas who lead with the heart, searching their communities for causes where their talent, time and money make the most positive change. Meet the ST200 honorees in the category of Philanthropy.
Meet the 2018 Salon Today 200 honorees in Employee Education. These salons constantly develop systems to strengthen the skills and confidence of their new team members, while encouraging and supporting their seasoned staff to continually stretch creatively.
On Day 4 of the 12 Days of the Salon Today 200, we introduce you to the savvy honorees in the Technology category. They've learned to leverage a variety of evolving technologies to reach their full potential and keep all salon systems running strong.
It's day 3 of the 12 Days of the Salon Today 200 and time to meet the superstars in customer service. These salons have mastered the art of elevating the salon and spa experience, which solidifies client loyalty and propels growth.