POST COVID IN THE USA

MIKEY DENTON

THE BEAUTY INDUSTRY IS ON THE RISE. WITH BARBERS, HAIR SALONS AND NAIL SALONS PROJECTED TO GROW 8.1 PERCENT FROM 2020-2030, FIVE TIMES FASTER THAN THE AVERAGE 1.7 PERCENT GROWTH FOR TOTAL EMPLOYMENT, IT’S CLEAR THAT THE BEAUTY INDUSTRY IS THRIVING. BRANDS ARE HAVING A GREAT YEAR AND HAIR COLOR SALES HAVE HIT ALL-TIME HIGHS.

The Stats

PROJECTED EMPLOYMENT CHANGE IN THE PERSONAL CARE SERVICES INDUSTRY COMPARED WITH TOTAL ALL INDUSTRIES EMPLOYMENT, BY PERCENTAGE, 2020-2030

Percent change due to expected pandemic recovery

Percent change excluding pandemic recovery

Percent employment change, 2020-2030

The shift towards digital education and retail opportunities is driving the industry forward. Across the beauty sector, businesses are running 20% above 2019 levels and some are even surpassing the 2021 indicators. Barbers and hairdressers who are doing well are charging higher prices, which are being well received by consumers. However, according to a report from Yelp, salons and barbershops were ranked the highest for charging “too much,” despite this report, many businesses have raised their prices in a justified manner.

The pandemic had an impact on the beauty industry, with people trying to cut and color their own hair at home. So, once the quarantine period was lifted, the appreciation for and the value in the experience and knowledge that salons and barbershops provided returned.

The retail aspect of salons and barbershops has seen huge spikes in sales, with 2021 salon service revenue at $50 billion and salon product sales for consumers at $3 billion.

There is also a growing trend towards eco-friendliness in the industry, with products using more recycled packaging and natural ingredients. The male customer base is also expanding, resulting in barber shops becoming more appealing and with additional services being offered beyond basic haircuts. Tips have gone up since the pandemic, with the average tip increasing from 1518% to 20%.

Many former owners and booth renters have become employees, while some employees have become business owners. The trend of men’s specialists in salons has also been on the rise.

In conclusion, the beauty industry is thriving, driven by the shift towards digital education, retail opportunities, eco-friendliness, and the growing male customer base. With the abovementioned projected growth from 20202030, it’s clear that the beauty industry is here to stay.