Almost without exception, everyone involved in the beauty industry today, knows that it is not only one of the fastest growing sectors, but also one of the fastest changing and evolving, across all market sectors worldwide.
This presents, of course. tremendous opportunities, but also threats; and it is how responsive we are to these changes, that will determine our fate, business wise, over the next few years and beyond.
The same issues have faced most trade sectors at some stage or another – the industrial revolution changed manufacturing; the emergence of the global supply chain, as a result of easier communications and transportation, amongst other factors, re-located manufacturing. The development of digital technology, in particular, has transformed the world in which we live and work, and has brought giants in industry, to their knees, virtually overnight; whilst agile and innovative new businesses – often with young and relatively inexperienced, but responsive and insightful founders, have risen to achieve financial success hitherto impossible to imagine, within such short time frames.
The beauty sector has within the last century of its rise, been relatively stable and unaffected by financial and industrial movements. There have been lulls when the economy is suffering, but that has, to some degree been counterbalanced by the ‘lipstick factor’ where people (historically women) have continued to splash out on their ‘beauty treats’ to cheer themselves up in times of austerity. This is a service sector and it has served to make people feel better about themselves and to look better. So far, so good; and so it continues, with one huge difference – it has now been affected by the technological revolution, and like all such sectors so affected before it, the survivors will be those who recognise that the pace of change is rapid and won’t wait for those who want to meander and feel their way.
Immediacy is everything these days. Time waits for no-one, and whereas the beauty sector has been able to buck that trend as it has traditionally housed a plethora of sanctuaries providing calming, escapist treatments, where time pressures do not intrude, the irony is that those havens of retreat have now themselves also been irrevocably affected by the changed, frenetic, new world. This has partly been driven by consumer demand (from the media and celebrity culture that pervades) and partly by the economic realities of profit margins and competition. The beauty sector has been a comparatively easy one to enter, and, as such, competition has mounted over the years, with each new college leaver bringing fresh talent and skills in massage, nail art, make up etc. Wonderful skills – but plentiful skills; and so, given the forces of supply and demand in the free market economy, skills which are incapable of achieving a high price tag by virtue of the increasing glut of supply. Beauty salons have sought to outperform each other by offering a more ambient environment, the little luxuries like fresh coffee and chocolates or even champagne, and special offers. But they have often been fighting for survival as high street rent and rates, staff costs, and Groupon deals make life difficult. Even mobile therapists without the same overheads struggle to survive as more unemployed beauty therapists try their hand at self employment. There will undoubtedly always be a demand for the traditional beauty treatments such as massage, nails, and make up. But the industry was already reaching a point of saturation. However, with the emergence of new technology and a demand for results- driven treatments, fresh opportunities have been created, but only for those who embrace them and with speed.
Health, fitness, longevity of life and looking and feeling good are high on the agenda of many of us, in the more developed world at least. The holy grail of eternal youth is seeming closer with each passing year. It started out tentatively and then dubiously as invasive cosmetic surgery was used experimentally on our faces and bodies. We have now emerged from that exploratory period to arrive at a position where incredible facial and body improvements can be achieved safely, comfortably and naturally; and of course most of us want some of this!
We are in a position now where the demand is outstripping the supply for genuine, results-driven anti-ageing treatments; and now is the perfect time to capitalise on this opportunity to provide what is increasingly being regarded as a necessity for not only women but a substantial number of men.
Technology has arrived at our door and if we close that door shut we could be cutting off our blood supply. It has happened in most sectors to date and lessons have been learned. You may think that you cannot afford to invest in equipment that will help transform your business but you can’t afford not to. There are finance schemes and rental schemes available and even commission sharing arrangements; what you can’t do is ignore what is happening in this industry if you want to stay in it.
SkinFirst have the latest and safest hair removal and anti-ageing equipment and we use independent specialists to provide flexible finance options. Our training and support is second to none and we are here to help you take your business forward.
Please call us or email now to discuss which of our systems would be right for you, and how easily it could pay for itself. You can be sure that if you don’t, there will be a nearby competitor who will be waiting in the wings to service those clients, and that in the years to come those who take action now in response to the industry changes will be those who have thrived not died. We don’t usually speak morbidly, as we are constantly enthused by the advances in technology in this industry; but we know that if we don’t highlight the dangers of inaction, you won’t be around to share our enthusiasm. We look forward to helping you.
The SkinFirst Team
Tel 01925 446688 email: contact@skinfirst.co.uk
