Author: Arno

ESP INDUSTRY INTEL APRIL 2022
As an industry revenue has increased by 18% overall when comparing April 2022 to April 2021 with the Hair Industry increasing by 21% and the Beauty Industry by 13%. Overall service Revenue increased by 24% and Retail by 16%. Average Docket charges increased only slightly by 2% but the number of client visits increased by 19% which is excellent news going into the winter months.

The Hair Industry increased Service Revenue by 28% and Retail by 16%. Interestingly average docket charges dropped by 1% and client visits increased by 25%

The Beauty Industry increased Service Revenue by 16% and Retail by 18%. Average docket revenue increased by 7% and total client visits by 8%.

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As an industry revenue has increased by 17% overall when comparing March 2022 to March 2021 with the Hair Industry increasing by 18% and the Beauty Industry by 17%. Interestingly the Hair and Beauty industries very closely duplicated each other in many aspects (Average Charge Per Docket, Number of Visits, Service Revenue Increase and Staff Movement etc. ) except Retail Revenue. The Hair industry increased Retail Revenue by 20% when compared to last year while the Beauty Industry increased by 7%.

Looking at this increase a little closer we can see that the Industry Retail Revenue increase from last year is 16%. While not all hair salons increased retail revenue with some posting a decrease of over 40% and on the other hand some salons almost doubled their total retail turnover. In speaking to some of the salon owners who did particularly well it is clear that investment in staff training to enable staff to build meaningful client relationships and then leverage those relationships on a consistent basis coupled with performance assessments and target setting has paid dividends.

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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 info@espconnect.africa