Pulse January 2023 - Page 53

SNAPSHOT SURVEY

QUARTERLY REPORT

THE OCTOBER 2022 ISPA SNAPSHOT SURVEY asked respondents to share details about their spa or company ’ s third quarter performance ( July 1 through September 30 , 2022 ) compared to the third quarter of 2021 . The results reported in this quarterly performance survey further illustrate the spa industry ’ s continued recovery from the pandemic .
KEY TAKEAWAY
PROFIT CHANGE
COMPARED TO THE SAME PERIOD in 2021 , nearly 80 percent of the spas surveyed reported an increase in third quarter revenue . Complementarily , 72 percent of spa respondents reported an increase in profits . Almost one-third ( 27 percent ) saw profits increases exceeding 20 percent compared to the prior third quarter profits . Continuing the 2022 trends , spa visits were up for 62 percent of respondents .
UP BY MORE THAN 50 %
UP BY 35 - 50 %
UP BY 20 - 34 %
UP BY 10 - 19 %
UP BY 1 - 9 %
NO CHANGE
7 %
7 %
9 %
13 %
17 %
28 %
DOWN BY 1 - 9 %
13 %
DOWN BY 10 - 19 %
4 %
DOWN BY 20 - 34 %
1 %
DOWN BY 35 - 50 %
1 %
DOWN BY MORE
THAN 50 % 0 %
WORKFORCE CHANGES
Added new positions
Filled vacant positions only
Implemented or continued a hiring freeze
Laid off employees
No change
Other
3 %
4 %
8 %
17 %
27 %
42 %
ALTHOUGH STAFFING CONTINUES to be a challenge , over two-thirds of spas ( 69 percent ) noted they had either added new positions ( 27 percent ) or filled vacant positions ( 42 percent ). Additionally , nearly 60 percent added a new treatment during the third quarter while 45 percent added a new brand or products to their retail lineup . One fourth ( 24 percent ) of spas reported an average retail revenue per treatment of more than $ 25 .
RESOURCE PARTNER RESPONDENTS ( 24 percent ) reported their profits were up by 20 to 34 percent while 43 percent added new positions . Compared to the third quarter of 2021 , 43 percent of resource partners had the number of new accounts increase by more than 15 percent .
RESOURCE PARTNER ROUNDUP CHANGE IN ACCOUNTS
NUMBER OF NEW ACCOUNTS 43 %
NUMBER OF REPEAT CLIENTS
NUMBER OF ACCOUNT CLOSURES
NUMBER OF INTERNATIONAL ACCOUNTS
UP MORE THAN 15 % UP 1 - 15 % NO CHANGE DOWN 1 - 15 % DOWN MORE THAN 15 %
17 % 0 % 21 %
46 % 46 % 8 % 38 %
7 % 33 % 76 % 42 %
4 % 4 % 8 % 0 %
0 % 0 % 8 % 0 %
JANUARY 2023 n PULSE 51