In recent years, profits within the UK hairdressing market have lost their lustre. The recession has taken its toll on the industry, causing consumers to cut back discretionary spending on hair treatments, which has lowered sales and profit margins for salon owners.
Revenue fell by 3.9% in 2010-11, and is forecast to contract another 0.9% in 2012-13 as weak economic conditions continue to prevail. Revenue will total £3.68 billion in 2012-13, after falling an average 0.4% per annum over the last five years.
The UK hairdressing industry provides hairdressing services which include hair cutting and styling, colouring, straightening and other treatments.
The hairdressing industry employs nearly a quarter of a million people across the UK and is worth billions to the economy. As the economic uncertainty continues, it is encouraging to see how positive the industry remains, with over a net quarter of professionals saying that they are more optimistic than a year ago (43% more optimistic less the 17% who are less optimistic).
It's an industry that's prepared to act on this confidence with a net total of 28% looking to hire over the next twelve months
(32% who are looking to hire more staff less the 4% who are expecting to hire less).
Many hair professionals are benefitting from the rise in male grooming with an amazing 66% of those that offer it seeing an increase in male clients. The male hairdressing market alone is estimated by some to be worth £1.2 billion.
The range of hair products for home use has grown larger and ever more sophisticated. To compete, many salons have had to raise their own standards and look for other ways to attract customers. A growing number of salons now offer a whole range of beauty treatments alongside hairstyling.
The average salon now employs more staff (particularly males) than before and, although most salons are still independent, nearly a quarter of businesses across the UK are estimated to be part of a chain or franchise.
For more information on the UK hairdressing market, see the latest research: UK hairdressing market
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