Like other industries, salon business, and the beauty industry, in general, is experiencing a boom. Colorful nails, glass skin, nail art, and other bold choices are on the rise. 

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But as the consumer's preferences change, some trends and stats are worth watching for any forward-thinking person.

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In this article, we are going to discuss a few noteworthy salon industry statistics in 2023 from skincare to hair trends. 

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Beauty & Salon Industry Statistics 

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1. Globally, the beauty industry is estimated to be worth $511 billion. The figure is expected to exceed $716 billion by 2025.

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2. The average hourly pay for hair stylists in the US in 2022 was around $11-$20.

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3. There were 994285 registered salons in the United States in 2022 with an employee count of up to 1.33 million people.

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4. Men are embracing the makeup world.A CNBC publication unfolds that over half of American men use some kind of makeup, with gender-neutral products gaining a steady rise.

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5. Groupons research reveals that American women spend $10 dollars on average daily on makeup. Annually, the figure bulges to $3756 per year. A bigger portion of the money is spent on makeup, skincare and haircut.

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6. Makeup products constitute 18% of the beauty market globally. 

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7. According to PBA, it costs roughly $43 for a women's haircut, $28+ for men and around $15 for kids.

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8. According to Statista, the cosmetics industry will increase by 16% in 2023. This figure will be the second highest for the past 13 years.

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9. Despite the ongoing recession, another report indicates that over half of Americans will not cut their cosmetics products spending, this guarantees optimum returns for salon owners.

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10.  Research by McKinsey posits that personalized approaches increase client satisfaction rates by 20%.

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Beauty product consumers respond positively to messages that are tailored to them. Look at Amazon, eBay, and practically any other big marketplace. They create bespoke experiences to ramp up revenue. 

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Having something that is entirely made for us makes us feel special and valued. Hyper-personalization in the salon industry should not be overlooked.

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This strategy is possible with salon marketing software. Collect as much information as you can from your clients to know them well.

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‍Explore effective marketing strategies for your salon or spa.

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11. Beauty advertising is growing at a rate of 2.2% each. In 2022, the beauty industries spent $2.2 billion to advertise themselves.

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12. 25% of consumers prefer organic, eco-friendly, and sustainable beauty products. A far bigger percentage are willing to prioritize brands that support environmental protection efforts and causes.

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13. There is a growing need for inclusivity in salons as 90 +% of people who categorize themselves as non-binary or trans get misgendered.

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14. 67% of beauty product shoppers turn to influencers for insights on which products to buy. Beauty professionals and third-party reviews come after.

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15. 35% of salon owners site their growing social media as their biggest avenue for business growth

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16. Over 90% of salons generate their income from hair cut, colouring services and hair styling. Care services and retail sales generate less than 10%.

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17. The 90s hairstyles such as mullets and shug cuts made a comeback in 2022.

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18. With inflation and the cost of living hitting new highs worldwide, beauty shoppers are still not trading off their beauty needs. A significant 81% are adopting money-saving avenues to get value for their hard-earned money.

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Therefore, as a salon owner, it's important to manage and improve your salon's reputation, appear trustworthy, and ensure your brand offers the best value to buyers. Leverage loyalty points programs and promotions that come with salon scheduling software to boost your parlor's bottom line.

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19. It's estimated that 50% of beauty product consumers book their sessions outside normal opening hours. This has been made possible by online booking software that lets clients schedule an appointment at any time of the day or night.

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Some digital tools are far advanced to offer a long list of services such as automation, communication alerts, low stock alerts, and much more.

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20. 78% of salon owners admit that a strong social media presence is the key to attracting high paying clients.

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21. Irrespective of the country of origin many women opt to bleach or color their hair blonde, as opposed to other color strains.

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The Salon Industry Trends are Everchanging

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The future of salons and cosmetics brands is bright. Massive growth opportunities exist for business persons that keep themselves up-to-date with salon industry statistics.

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With customers' needs changing daily, there is a growing need to understand customers better to avoid missed sessions and abandoned carts. 

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Having a salon POS software, one that doubles up as a management tool is a surefire way to ensure zero missed growth avenues. A comprehensive salon management software not only keeps data safe but generates money-making insights as well.

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