Facial, massage, dating… In search of recession-proof industries
Facial, massage and dating… what do they have in common?
These are the industries which seem to be recession-proof and saw improved sales and revenues in recent months.
The Professional Beauty Association says its main tracking indexes for the salon and spa industry all posted a rise in the fourth quarter of 2011, driven by stronger sales, traffic levels and a more optimistic outlook for the economy.
The Salon & Spa Performance Index, which is the main index of the three, is a quarterly composite index that tracks the health and outlook of the U.S. salon/spa industry. It rose 1% from the third quarter of 2011 to stand at 102.9 in the fourth quarter. A base level measurement of 100 is used, with values above considered positive.
The survey also showed 61% of salon/spa owners expect higher retail sales as compared to 7% that expect a decline.
“The salon and spa industry remains resilient. As with the broader economy, it is encouraging to see positive growth and expansion as indicated by the Salon & Spa Performance Index,” says Steve Sleeper, Executive Director of the Professional Beauty Association.
It’s not for everyone — an annual membership is an investment of 15,000 pounds.
“The business has quadrupled within the last 2 years. As the banking industry has fallen into free-fall, the busier we have become as people re-evaluate their personal lives,” says Virginia Sweetingham, founder of Gray & Farrar.
“This trend is resonating across the globe; despite our office headquarters being in London, over 75% of our client portfolio is now international – a stark contrast to ten years ago, when the majority of our clients were UK based.”
The agency says they match two-thirds of their clients within the first 12 months.