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Management Practices

Facts, Figures, Trivia

Stacey Soble | July 10, 2011 | 2:14 PM
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.

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