Group 3 Marketing, a full-service agency serving all segments of the beauty industry, recently shared findings that point to an upbeat holiday shopping season. A new report from American Express Spending and Saving Tracker, which examines American consumer views and priorities, shows some evolving trends that can positively impact salon business this season:
60 percent of participants plan to spend the same or more in the next 30 days compared to the previous 30 days.
46 percent of participants cite salon hair styling and grooming as a high priority today versus the 18 percent who felt it was a high priority this time last year. Grooming rose 28 percentage points in priority, second only to car maintenance, which jumped 37 percentage points. Overall health and wellness increased in priority, as organic food purchases and massage also rose by significant numbers.
Young professionals in particular are more optimistic about the economy and more likely to increase spending during the next 30 days as compared to the affluent and the general population.
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