Retail sales is one of the biggest challenges in spa. The competition with beauty giants, like Sephora, is fierce. But that doesn’t mean retail can’t be a big driver of your revenue. Here are 12 tips for increasing your spa’s retail sales.
Customer acquisition costs a lot more than customer retention. In fact, according to the Harvard Business Review, depending on what industry you’re in, “acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.”
Many spas and salons fail within their first few years. Some estimates say that as many as 8 out of 10 don’t make it beyond two years; while ISPA estimated, more conservatively, in their 2016 Spa Industry Study that 6.5% of spas go out of business each year.