SNAPSHOT SURVEY- MAY SNEAK PEEK

 

Download the May Snapshot Survey Sneak Peek

The results of the May Snapshot Survey regarding retail sales are in, and are very insightful.  While full results are only sent to those who participate in the survey, we wanted to share a sample portion of the valuable data with all ISPA members.  We're giving you a peek inside the results compiled from hundreds of ISPA members, which provide details on what ISPA resource partners are doing to help boost retail sales.  Be sure to open your e-mail survey the third Friday of each month to participate and receive the results to keep your finger on the pulse of the industry.

Economic Impact:

It's no secret that the economy is having an effect on retail sales, and it's dictating the decisions made by spas.  In fact, the survey indicated that 58 percent of day spas and 53 percent of resort/hotel spas had a decrease in the total value of their spa's retail inventory.  As a result, spas are reducing their back bar inventory which leads to placing smaller, more frequent orders.

Below are some of the ideas that resource partners are implementing.  If you're a spa member check them out, and use them when talking with vendors, and if you're a resource partner think about applying some of these tactics.  Another great resource to have at your disposal is the ISPA Retail Management book. 

ISPA Resource Partner Developments:

• Hold training seminars that go a step beyond by not only focusing on product education but on skills such as massage/skin care techniques, sales tips and understanding financials.
• Trade out fragranced products with the seasons.
• Replace or allow returned items.
• Provide samples for guests to take home and try. 
• Provide a free gift with purchase.
• Helping spas develop shorter treatments, since these are becoming popular with spa-goers as a way to save money while not cutting out their spa visits.
• Offer complimentary online training sessions.
• Expand payment terms to avoid late fees.
• Provide free shipping on products.
• Initiate a buy back program.
• Reduce the minimum order quota.

Top Five Products Carried by Spas:

1. Skin Care
2. Bath and Body
3. Sun Care
4. Nail
5. Make-up

View a listing of the best-selling retail products provided by ISPA resource partners who participated in the survey.

Keep in mind, these findings were offered by members in response to the recent Retail Sales Snapshot Survey.  For more in-depth information on the state of the industry be sure to complete your monthly Snapshot Survey the third Friday of each month.  Only members who participate in the survey receive the full results.  Please contact ISPA for more information on the latest research and stats.