Thailand-based Apple Model Management announced its arrival in Los Angeles with an all-transgender modeling agency this month, stirring the beauty and personal care industry in America. Every division in this industry has been undergoing transformational changes owing to aggressive campaigns and the spas and beauty salons market is no different.
The spas and beauty salons market in the Americas is being driven by growing awareness of the average consumer regarding beauty and personal appearance. Valued at US$85.11 billion in 2013, the spas and beauty salons market in South, Central, and North America is poised to reach US$138.27 billion by 2020, states Transparency Market Research in its latest report.
Here’s a look at how the regional markets have been performing.
Spas and Beauty Salons: Market in Central America Driven by Emergence of New Middle Class
Central America comprises countries such as El Salvador, Panama, Honduras, Guatemala, and Nicaragua. These countries are characterized by the emergence of a new middle class that is hugely aspirational rather than affluent. A recent recovery in economic growth has allowed consumers to be more engaged in personal care and beauty, making room for salons and spas. This new middle class is not only aesthetically aware and brand-savvy, but is also immensely demanding in terms of functionality and value for money.
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Men in Central America have also joined the consumer base when it comes to spas and beauty salons, being heavily influenced by marketing and advertizing campaigns. The presence of local brands, in time, can prove to be quite competitive, challenging global players in the spas and beauty salons market.
Spas and Beauty Salons: Market in North America under Influence of Celebrity Power
Celebrities today have a phenomenal power when it comes to influencing culture, lifestyle, public opinion, and consumption patterns. The credibility that celebrities lend to a product or service in the North American spas and beauty salons market, especially the U.S., is tremendous. TV and film stars, business tycoons, A-listers and divas, athletes, chefs, pop stars, and other globally renowned personalities have been endorsing various brands and products that are used by professional beauty salons and spas, thereby driving the North American market.
Other factors that contribute to the spas and beauty salons market in North America include high incomes, cultural preferences, urbanization, climate, and consumer demographics.
Spas and Beauty Salons: Market in South America Reeling under Economic Recession
Chile, Argentina, Peru, Colombia, Paraguay, Ecuador, and others together form the South America spas and beauty salons market – a market that has been facing a dip despite a deep beauty-conscious culture. Low economic activity in this region, coupled with rampant inflation, has had a negative impact on the spas and beauty salons market in South America. In some countries like Colombia, positive economic performance, reduction in unemployment, and higher disposable incomes failed to boost the personal care market. Consumption shifted to other industries such as durable goods and travel and tourism.
To overcome this, companies have been engaging in persistent and aggressive advertizing and marketing strategies. The spas and beauty salons market in South America is focusing on product development, premium products, and influx of imported brands.
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Some of the leading players operating in the spas and beauty salons market in the Americas are The Roose Parlour and Spa, Bradley & Diegel Salon, Metropolis Salon & Dry Bar, Madeline Wade, John Barrett Salon, Butterfly Studio Salon & Spa, Salon U, Robert James Salon and Spa, Metodo Rossano Ferretti Salon, Muse Salon & Spa LLC, and Chris Chase Salon.