What is saving the salon industry?
With talk of the recession still top of mind across industries, a positive metric is the health of the wellness economy, which includes salon and spas. According to the Global Wellness Institute, the wellness economy is expected to reach nearly $7.0 trillion in 2025.
Knowing that the appetite for personal care and beauty continues to grow, what business tactics can beauty professionals employ to meet consumer demands, to build their businesses, and to help them weather periods of high inflation?
We dive into this and more with Christina Russell, CEO of Radiance Holdings, which represents Sola Salons, the world's largest and fastest-growing salon studios, and Woodhouse Spas, the largest premium day spa brand in the U.S, both of which achieved the highest growth since inception last year.
In this MODERN EXCLUSIVE, Anne Moratto, director of content for MODERN SALON, spoke with Russell about the growth of the salon suite model of employment and how independent salon professionals can continue to thrive even during times of economic uncertainty.
Insights Unfold: Moment-by-Moment in the Interview
- Why are hair salons becoming more of a launching pad for hairstylists to open their own salons? (1:32)
- How do beauty professionals respond to the realities of inflation? What are they doing when costs are going up? (3:49)
- How do you backfill more clients into your book? (5:59)
- Small bites of education that help hairstylists rethink their independent mindset. (8:22)
- How the uptick in hybrid work and how consumers are working has contributed to an uptick in beauty and wellness services. (10:28)
- What’s saving the salon industry? (13:01)
- The importance of speaking to the people who are driving the industry forward . (15:31)
Originally posted on Modern Salon