In a world where personal care plays a large role in confidence and well-being, new analysis by payment provider Lopay brings to light an interesting trend. With living costs on the rise, many Brits are finding news ways to indulge in beauty treatments without breaking the bank.
Key Points:
- Rising living costs are causing 80% of beauty salon customers to opt for cheaper treatments
- 43% of regular clients are visiting less frequently for beauty treatments
- Gel nail treatments and other affordable services are seeing an increase in demand
- 32% of salons are seeing a decrease in business since the start of the year
- Lopay’s payment solutions can help businesses navigate reduced customer spending
The Luxurious Casualty of Inflation
Consumer prices in the UK jumped a staggering 7.9% in the 12 months leading to June, forcing people to rethink their discretionary spending. Lopay’s data indicates this belt-tightening is having a significant impact on the beauty industry, with 43% of regular clients visiting less frequently and opting for more affordable treatments.
| Shift in Consumer Behaviour | Percentage of Salons |
|---|---|
| Regular customers opting for cheaper treatments | 80% |
| Decrease in frequency of treatments | 43% |
The Cost of Living Crisis Impacting Beauty Businesses
About a third of beauty salons reported a decrease in overall business compared to the beginning of the year. The most affected treatments? Lash and brow services, including tinting, lifting, extensions, waxing, lamination, and threading.
| Business Impact | Percentage of Salons |
|---|---|
| Decrease in overall business | 32% |
| Decrease in lash and brow treatments | 41% |
Non-negotiable Indulgences: Nails and More
In the midst of tighter budgets, some treatments remain steadfast in their popularity. Gel nail treatments, for instance, have seen increased demand in 31% of salons since the start of the year. Other affordable options such as pedicures (up 25%) and manicures (up 21%) are also on the rise.
| Increased Demand | Percentage of Salons |
|---|---|
| Gel nail treatments | 31% |
| Pedicures | 25% |
| Manicures | 21% |
Lopay’s Support for Struggling Salons
Richard Carter, Founder of Lopay, acknowledges the profound impact beauty treatments have on people’s lives, describing them as little luxuries with outsized importance. Despite the economic crunch, Carter notes that salon regulars continue to visit, although they are opting for less expensive services. In response to this.
Carter urges beauty businesses to take advantage of Lopay’s payment app and cardreader, whose fees are substantially lower than those of big finance industry players. This way, salons can retain more earnings from every treatment they provide, helping them navigate these challenging times more effectively.
The Most Popular Beauty Treatments
Facials
Facials are one of the most sought-after beauty treatments in the UK. With a diverse range of options, from hydrating facials to deep-cleansing and anti-ageing ones, this treatment has something to offer for every skin type and concern.
Why are they so popular? Facials provide immediate results in terms of improving skin health and radiance. They deeply cleanse the skin, removing impurities that everyday cleansing can miss, and often involve a massage, promoting relaxation and stress relief. Moreover, by regularly treating your skin to professional facials, you can maintain a youthful glow and reduce signs of ageing.
Gel Nails
With their promise of long-lasting colour and shine, gel nail treatments have surged in popularity. They provide the perfect solution for those looking for a manicure that can withstand daily wear and tear, lasting up to three weeks without chipping.
What’s the secret to their popularity? First, gel nails are incredibly durable, making them a favourite among those with busy lifestyles. Second, the vast array of colours and finishes available means you can personalise your look to your heart’s content. Lastly, the process of getting a gel manicure can be a relaxing ritual, a bit of ‘me time’ that brings a sense of pampering and indulgence.
Hair Colouring
Whether it’s a subtle balayage or a complete colour change, hair colouring services are among the top beauty treatments in the UK. With hair colour playing a pivotal role in personal style and expression, it’s no wonder these services are in high demand.
Why do people love hair colouring? For many, it’s an exciting way to express their personality and change up their look. It can also be a tool for enhancing natural features or covering up grey hairs. Not to mention, visiting a salon for a hair colouring service often comes with the added benefit of professional advice on what hues would best suit your skin tone and personal style.