I just read an article on NPR’s website about how beauty salons are faring relatively well in this economic downturn. The thinking is that people are cutting back on more expensive indulgences, like weekend getaways and long-distance traveling, and instead opting for more reasonable pampering, like the local salon.
The article sources a salon owner named Cindy McCullough in Concord, Mass., as saying, “I told my staff, ‘Brace yourselves. It may be slow. We may be dead. We may not have anybody.” But she was shocked to see that her sales are actually up 10% over her previous record high.
Another interesting fact is that liquor store sales are up 10%. In this current downturn, businesses that sell cheaper goods are naturally better than vendors of the more expensive. How has it been affecting your salon? Leave me a note in Feedback.