RESOURCE PARTNER REAL TALK CONTINUED FROM PAGE 48
their relationships with spa partners and set the tone for their partnerships as recovery from COVID-19 continues .
Is This Exclusive ?
One resource partner attendee asked the panel if shifts in business models — resulting in some previously exclusiveto-spa brands selling directly to consumers — has affected spas ’ desire to work with those brands . It was clear from the panelists ’ answers that the business landscape created by the COVID-19 pandemic has led to some shifts in traditional thinking . “ It can be difficult when guests are standing in the store , and they ’ re Googling whatever skin care line it is , and they can get it maybe cheaper ,” Deirdre Strunk told attendees . “ So , I like it being exclusive , but at the same time , I like [ the brand ] to have recognition too . It ’ s a really fine line … and I think COVID put us even further into that , obviously , because resource partners have to stay alive in business too .”
Robert Vance agreed that , for spas , that balance can be difficult to strike and encouraged resource partners to be creative and flexible in how they work with spas going forward .“ Help us sell your product . Help us to find ways , whether it ’ s value-adds , whether it ’ s packaging , whether it ’ s pricing , whatever it might be ,” he said .“ I get why you would need to go from a b2b to a b2c environment , and we want these brands to stick around , but we also have to figure out how we can make this work for both of us .”
One key to creating a mutually beneficial relationship between spas and resource partners , Jessica Shea added , is making sure that vendors have a holistic business strategy that allows the b2c component of a business to support or elevate the b2b side . “ I ’ ve talked to vendor partners where
the right hand doesn ’ t seem to be talking to the left ,” said Shea . “ Maybe they have a b2c team and they have a b2b team , and they ’ re not strategizing together . How can they be symbiotic versus competing against each other ?”
It seems clear from spas ’ perspective that navigating these business challenges in a landscape so deeply affected by COVID-19 will require flexibility and understanding on the part of both spas and resource partners as they seek inventive solutions .
Taking Stock of CBD
Anyone who has been part of the conversation around spa products in the last few years has likely had to consider where — if at all — CBD fits into their plans . But as the CBD market has become more saturated and consumer interest has spiked , the subject has never been more top of mind for spa leaders .
What factors are most important when evaluating a potential resource partner ?
Ella Kent
“ The first one I ’ m going to pick is ,‘ Are you an ISPA member ?’ I know that sounds very limiting , but when you invest in ISPA , you ’ re telling me as a member that you care not only about getting my support and my property involved with your product , but you care about the industry as a whole , and that means the world to me .”
Jeßica Shea
“ For me , it ’ s really about business alignment , so I look for resource partners who really understand what each of our spas or multiple properties are trying to achieve . For the sake of our spa leaders and our resource partners , we don ’ t want to entangle ourselves with anything that doesn ’ t make sense for everybody .”
50 PULSE ■ MAY 2021