According to Professional Beauty Association, the spa industry has seen an overall decline this year. Their Current Situation Index and Expectations Index have recorded the industry’s increases and decreases.
The Expectations Index, which measures in service sales, retail sales, employee hours, capital expenditures, and business conditions, showed a slight overall decrease of 0.7 percent for the industry.
The Current Situation Index, which measures in service sales, client traffic, retail sales, employees and hours, and capital expenditures, has remained above 100 percent for the seventh consecutive quarter, marking an expansion in industry indicators. Stronger retail sales and customer traffic levels are the main reasons for this increase.
Since this year’s first quarter, there has been a 10 percent increase in retail sales, and 33 percent of owners have seen an increase in client traffic. Fifty-six percent of spa owners expect to see higher retail sales in the next six months, while 48 percent plan to increase staff levels. Staffing levels and employee hours have also seen an increase for the fifth consecutive quarter.
Even though there has been an overall decrease, the Current Situation Index as well as the Expectations Index both remain above 100 percent, which means spa owners are optimistic about growth. Fifty-six percent of spa owners expect to have higher retail sales and 48 percent plan to increase staff levels.
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