August 2021 allows for the second complete month post hard lockdown year on year comparison i.e. August 2021 to August 2020. As an industry we have seen turnovers increase by 27%, it’s interesting to note that this is the third consecutive month that we are showing a positive increase overall. The Hair Industry has also been on a positive trend for the last 3 months and the Beauty Industry for the last 6 months.
The Hair Industry has increased total revenue by 39% (August 2021 vs August 2020) as direct result of a 38% increase in the number of dockets however with this increase in number of visits there has been a drop in the average charge per docket. The Beauty Industry has increased total revenue by 13% with an increase of 48% in the number of dockets. The Expectation is that the increase in number of dockets would be proportional to increase in revenue. This beautifully illustrates that the more visits we have the less time is spent building relationships with individual guests which has a huge impact on the average spend per visit. Now is the time to focus staff education, target setting and monitoring of average service and retail charges per docket as we move into the last quarter of 2021.
These stats are drawn from the ESP client base that make use of our Business Intelligence service. These businesses owners are actively involved in their businesses and use the BI to track and understand the trends which allow them to formulate and implement strategies that will make a meaningful difference to the bottom line.
To find out how to implement strategies to improve your revenue and monitor the results contact the ESP Connect team for a free BI consultation firstname.lastname@example.org