A market segment within the U.S. day spa and nail salon industry likely to experience growth in the next five years is the male consumer, according to a recent report by market research firm IBISWorld
. The report (OD5604: Day Spa & Nail Salon Franchises in the U.S.) cites the International Spa Association
, which says that men account for a third of all customers at spas. Services specially created for this demographic include massages, facials, manicures, and waxing. To tap into a relatively underserved population, IBISWorld says, more salons and spas will expand their menus to include male-centric services. As such, this market segment is forecast to increase its share of revenue over the next five years.
IBISWorld also says that young Americans — those under the age of 25 — are increasingly entering the workforce and earning higher incomes. As a result, their demand for spa and salon services has mounted. This trend will continue at an even greater rate over the next five years as unemployment falls and more opportunities for jobs become available to the young professional.
Purchase the entire report from IBISWorld’s website