The Day Spa Association recently released its Spa and Wellness Snapshot. This quick overview includes key points from the recent survey on retail, service sales, and gift cards and provides valuable statistics comparing 2015 with 2014. Here’s what you need to know from the Snapshot:
- Sales across the spa and wellness industry grew approximately 5 percent in 2015 compared with 2014, and sales are up 5 percent so far this year.
- Retail sales is also growing, but it’s booming for business with more than 20 percent retail to service sales. Sales increased a whopping 14 percent.
- Gift card sales remained flat for lower sales revenue locations. For businesses selling more than $150,000 annually in gift cards, there was an increase of 2 to 7 percent.
- Membership and loyalty programs are an opportunity for increased revenue, and 67 percent of respondents don’t have a program in place.
What do you think of these sales trends? What can your spa do to capitalize on growth opportunities like retail and loyalty programs?