Pulse January 2022 - Page 51

SNAPSHOT SURVEY BY JOSH CORMAN

QUARTERLY PERFORMANCE

The October 2021 ISPA Snapshot Survey measured key third quarter performance data provided by spa and resource partner members . Though most spas were open during the third quarter of 2020 , many were still operating under occupancy restrictions , reduced hours of operation , or both . As a result , spa revenues , profits and visits — as well as resource partner account openings and profits — are up considerably year- over-year .
KEY TAKEAWAYS
SPA REVENUES IN THE THIRD QUARTER OF 2021 were up year-over-year for the vast majority of spas , with nearly three quarters ( 73 percent ) reporting revenue increases of at least 10 percent . Given the continued high demand many spas are experiencing ( 92 percent of spa respondents said that visits were up compared to the same period last year ), the increased revenues are an unsurprising but encouraging sign for spa leaders .

VARIABILITY CONTINUES

third quarter of last year .

47 %

Almost one-third ( 32
THOUGH SPA VISITS , revenues and profits were up for most spas , there is
percent ) indicated revenue increases of at least 35 percent compared to the third quarter last year .
still considerable variation in the operational adjustments spas are using to deal with the effects of the industry ’ s ongoing staffing challenges .
Menu Growth
NEARLY HALF of all spas ( 47 percent ) added a new treatment to their menu of services in the
Watching the Clock
MORE than a quarter of spas

27 %

( 27 percent ) reduced their hours of operation in Q3 2021 , while one in five expanded their hours of operation .
The Price is Right
Over one-third of spa respondents ( 36 percent ) increased pricing for services on the spa menu in Q3 2021 .
WANT TO SEE YOUR SPA featured in Member Perspectives or other articles in Pulse ? Answer any Pulse add-on questions at the end of the monthly Snapshot Survey and a member of the ISPA team may reach out to you about participating in an upcoming story .

FEATURED IN PULSE

RESOURCE PARTNERS continued to deal with shipping and supply chain challenges in the third quarter of 2020 . Their responses illustrate the steps many have taken as a result of those difficulties , as well as what they ’ re doing to support spa partners .
THREE IN TEN resource partners reported increasing their lead times for orders in Q3 2021 , while 18 percent said they increased shipping rates .
Resources and Support
MORE THAN HALF ( 53 percent ) of resource partner respondents indicated that they had added new training opportunities and / or new marketing resources for clients during the third quarter of 2021 .
JANUARY 2022 n PULSE 51