The Future Looks Bright for the Spa Industry
After the pandemic, many people started focusing on their health and self-care. Demand for wellness products and services grew, and by 2022, the global spa services market had reached $77.85 billion. With no signs of slowing, it’s forecasted to reach $259.26 billion by 2030. Heading into 2024, these factors are likely to amplify business for spas in the first half of the new year:
Self-care is the top resolution.
Improving mental health, fitness, and overall well-being is at the top of the list for most Americans, regardless of age. As individuals prioritize self-care, spas are sought-after sanctuaries for relaxation and rejuvenation.
More people are purchasing experiences for loved ones on Valentine’s Day.
In 2023, Americans spent $26B during Valentine’s Day. Nearly a third of gift givers are choosing to give experiences rather than items- the highest recorded by the National Retail Federation.
Most gift cards are redeemed in the first half of the year.
The holiday seasons bring an influx of gift card redemptions in the first half of the year following Christmas and Valentine’s Day, creating an increased demand for spa services. 46% of gift cards are redeemed within 90 days of receipt.
With the growing demand for spa services, labor shortages will be an even more significant issue facing spas nationwide. How are Spa Directors and Managers responding to staffing shortages? Despite the opportunity cost, some have reduced shifts and weekly operating hours. Others, however, are taking advantage of demand surges and are choosing to augment their team of providers with staffing solutions like Soothe.
Why are spas choosing Soothe?
Flexible Staffing Solutions
Soothe offers flexible staffing solutions, allowing you to seamlessly scale up your team to meet the rising demand during peak seasons. Augment your staff weeks ahead or request on-demand support right when you need it.
Experienced and Vetted Professionals
If you need reliable, licensed massage therapists, estheticians, or other spa professionals, Soothe has you covered. Their provider network includes highly skilled and vetted providers who can be onboarded quickly for a seamless guest experience at your property.
No Minimums Required
Whether you require temporary staff for a short-term boost or seek a longer-term solution, Soothe accommodates your needs. Unlike other staffing companies, Soothe does not require minimums. They work with your spa’s schedule to help you maximize profit.
To learn more about how you can maximize your property’s revenue in the new year while providing an excellent experience for clientele, contact [email protected].
Sources:
Spa Services Market Growth | Global Industry Trends [2023-2030]. www.fortunebusinessinsights.com/spa-services-market-103490.
Davis, Sarah. “50% of Gen Z Cite This Health Improvement as a Top New Year’s Resolution for 2023.” Forbes Health, 6 Oct. 2023, www.forbes.com/health/mind/new-years-resolutions-survey-2023.
Watts, Lottie. “Consumers Plan to Increase Valentine’s Day Spending to Nearly $26 Billion.” NRF, nrf.com/media-center/press-releases/consumers-plan-increase-valentines-day-spending-nearly-26-billion
Sekulic, Radovan. “Essential Gift Card Statistics to Know in 2023.” Moneyzine, moneyzine.com/personal-finance-resources/gift-card-statistics
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