Global beauty salon market sees strong growth
Following a spate of reports from the UK showing strong growth in beauty sales. New figures from the US have also showcased a rise in beauty salon sales suggesting that the growth is more of global phenomenon, which bodes well for the long-term success of the industry. Beauty salons sales in the United States have seen a growth of 5.4% in the last two years, according to research conducted by financial analysis company Sageworks. The study analysed over 960 financial statements from beauty salons in the US, which revealed that consumers are now visiting salons more frequently and even opting for expensive treatments and buying more products. While salons have continued to experience a steady profit during the recession, as profits grew 7.8% in the last two years according to the data. Financial analyst Greg Mulholland of Sageworks said this is a sure sign that the economy is starting to make a turn for the better and beauty salons will see clients coming for appointments more frequently.
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