Industry Analysis & Industry Trends
Operators in the Hair and Nail Salons industry have begun to offer a variety of new products and services to combat the economic downturn. As a result, revenue is expected to grow over the five years to 2014. Nonetheless, revenue dipped briefly during the recession when consumer incomes began to fall and demand for nonessential manicures, hair treatments and facials decreased. In the five years to 2019 however, industry revenue will benefit from increasing per capita disposable income and declining unemployment, which will occur toward the end of the five-year period. Salons will also offer a wider array of eco-friendly products that appeal to emerging consumer preferences, boosting revenue... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The industry is in the mature phase of its economic life cycle. Industry value added, or the industry's contribution to the overall economy, is forecast to grow at an average annual rate of 4.0% over the 10 years to 2019. By comparison, the nation's GDP is projected to grow at an average annual rate of 2.5% over the same period. Therefore, the industry is growing only slightly faster than the economy as a whole, a key indicator of its mature life cycle stage.
Furthermore, the size of the Hair and Nail Salons industry is continuing to expand. IBISWorld projects that from 2009 through 2019, the number of companies will expand at an annualized 5.0% reaching 1.6 million businesses by 2019... purchase to read more