Euromonitor is a world renowned provider of business intelligence on industries, countries and consumers. They prepared a report for the 2010 Global Spa Summit that included some very valuable statistics and observations that would (or should) be of interest to the spa industry. Here is one slide I thought was interesting…kind of a good news ba
d news scenario.
The good news: The post recession consumer is even more ready for spa than they were before the recession!
Three out of the four key trends are aligned with our industry:
1. Health & Wellbeing (obvious)
2. Escapism (mental diversion by means of entertainment or recreation)
3. Value (relative worth)
This trend could be bad news:
4. Home as entertainment hub
Perhaps we should look at the bad news trend as an opportunity. For example….clearly this trend of home as entertainment hub is a welcome trend for mobile spas, home spa design, and even spa living communities that may make a comeback once the real estate market recovers. In addition all the retail products we sell in spas for people to enjoy spa aspects at home should become even more popular. And for existing spas? Perhaps these questions are worth some discussion:
- Should spas be thinking about offering “at home services” as a regular feature?
- How can spas make themselves more appealing so that people will continue to leave their homes and visit regularly?
- What does this say about staycations?
- What new creative ideas could be incorporated to take advantage of this trend?
I would really love to know your thoughts and ideas on these post-recession trends. So let us hear from you!
If you want to read the full report, go to http://www.globalspasummit.org/index.php/summit-2010/presentations and click on “Euromonitor.”
My twitter address: @susieellis
Hi Susie,
I think how this plays out will be very interesting! Our company’s retail closely mirrors the treatments we offer – a point many don’t always agree with as they like the spa experience to be completely exclusive. Our treatments are formed around the power of the therapists’ hands and energy, with the ability to customise for the client – this creates a point of difference with the products. We encourage the client to take the products home to relive the experience created in the spa … the aromas and textures that brought about well-being for them in the spa should invoke relaxation when using at home. I think there is a stronger connection to the experience because the products utilise essential oils as a foundation, which affects people on a more emotional level. We are lucky the feedback we get from our treatments is that the experience stays with you. If the staying home trend comes to pass, I think we’ll further encourage spas to teach people how to recreate an experience they’ve had with us, sharing what others have done for generations to encourage beauty and health.
Hi Susie!
Great job conveying this important information. I think that while we need to look at the “bad news” as an opportunity – we also need to give our industry a big pat on the back for our success in the other three trends. Awareness of Spa, lifestyle and wellness were on the rise big time before the economy took a downturn, and those people who experienced their very first spa treatment, massage, alternative health therapy in the yen years before the recession – well, they are remembering and they will be back. You also mentioned “staycation”, and that may be a part of the Home as Entertainment piece as well. Destination Spas that typically advertise out of market, may want to promote locally – with this idea in mind. Overall, I think it is exciting news. Thanks for sharing!
Thanks Susie for your wonderful and informative reports. I look forward to receiving them and find them of great value.
Re Post Recession Trends I am finding that my spa is not concerned about spa goers staying at home and having in home spa services or trying to recreate spas in their homes. My spa for instance has treatments that are quite exclusive and, would be impossible to do at home. Also people want to feel totally relaxed without interruptions and being at home this may not be possible. A spa environment away from home is like a mini vacation. Perhaps a new trend would be to recreate a mini stress reduction vacation by going to a spa for a day.
Cheers
Lorna
La Donna Fina Spa
West Vancouver, B.C.
Hi Susie…Sorry not to make your soirée mid-month as I’ll be vacationing…I appreciate the invitation!
Love your blog…as for my thoughts on ‘home as entertainment hub’…I say, ‘so be it.’ In my qualified experience of going into hundreds of homes over the years, what I mostly see is ‘what a home isn’t” – read ‘not a sanctuary.’ People need to be reminded that going to a spa is a step outside their usual world of continual stimulation (work, family ‘entertainment’) and into relaxation, nurturing, quiet, softness. A balancing experience…and altered consciousness.
Enjoy the remainder of summer and I look forward to seeing you on another occasion…with my best, Judith
Hi Judith,
Good to hear from you and thanks for sharing your insight that most people need to leave their home to find a sanctuary. Speaking of….enjoy your vacation!
Susie