2016 IS
LOOKING GOOD
On balance, 2015 was an encouraging year for our
industry, and 2016 looks set to have strong potential.
The encouraging signs of growth we reported last year
have started to take effect, with two-thirds of you more
optimistic than you were a year ago - mirroring the
increased confidence levels that SMEs across the country
are reporting*.
The sustained improvement in market conditions has meant
that over two-thirds of you have seen an increase in the
amount that customers are willing to spend on hair and
beauty regimes, and customers are visiting more frequently.
Both men and women are treating themselves to a range of
hair and beauty treatments more regularly than they have
at any other point in the last five years.
As a result, although treatment costs remain relatively low
compared to their peak in 2012, average annual spend is
up. Comparing a basket of treatments reveals that average
annual spend is up 23% for men and 20% for women,
boosting revenue significantly.
However, a slight North/South divide in terms of the
confidence levels of smaller firms has been reported on by
media recently - business confidence is lower in the North
East, Yorkshire and Scotland compared to southern parts
of the UK.**
This is echoed in our Beautiful Britain findings, with
optimism amongst hair and beauty professionals
second lowest in the North East, and hiring intentions
in the North East and Yorkshire amongst the lowest –
with only 17% and 14% planning to increase
headcount respectively.
*http://www.ibtimes.co.uk/consumer-spending-growsbritish-shoppers-are-less-confident-2015-1542168
** http://www.bbc.co.uk/news/business-35341148
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