New ISPA Stats Show Promise
The International SPA Association (ISPA) has released new statistics from the ISPA 2012 U.S. Spa Industry Study. ISPA commissioned PricewaterhouseCoopers (PwC) to conduct the survey which is updated every year with five key statistics crucial to the spa industry including revenue, spa visits, the number of spa locations, total employment in the industry and square footage.
“Against a background of slow recovery in consumer spending the spa industry has kept pace with modest growth in revenues and visits. Revenues are up by 4.5 percent year on year to $13.4 billion. Visits are also up 4.1 percent to 156 million,” says Colin McIlheney, Global Research Director at PwC. “Prices have stayed stable. The evidence suggests a volume driven recovery.”
Spas have implemented a range of strategies to stimulate demand and increase visits. Eighty-three percent of spas have made one or more changes to their business including increased number of treatment offerings, new retail product offerings, additional spa programs and shorter treatment options. These changes helped stimulate demand and increase the total number of spa visits resulting in an overall increase in revenue for the spa industry.
The number of spa locations was broadly unchanged compared to 2010. Employment in the industry has also held steady, with full-time employment estimating to have risen 9.3 percent. Considering the declines in part-time and contract employment, this suggests that the industry is getting back on track in the wake of the economic downturn.
“The spa industry is growing at a healthy rate in revenues and visits,” says ISPA President Lynne McNees. “Overall confidence remains high across the board as the spa industry is outpacing economic growth.”