Name: the beauty institute market
Brand: Businesscoot
Price: 89 EUR
Availability: InStock

INFORMATION ON THE STUDY

Price: 89€ HT
Last update: 19/04/2022
Language: English
Category: Hygiene, well being
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Content of the study

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MARKET SUMMARY

1.1 Presentation

The beauty institutes market refers to all business activities correlated to beauty treatments in beauty salons. With this definition it can be stated that a beauty institute is a place where a client can enjoy a wide range of services going from a typical haircut to a facial treatment or hair removals among others. The beauty business in Spain is considered one of the most important markets in the country because of the anthropological nature of beauty and care in society where it is considered as a must for most of its citizens. Therefore, despite the 2008 crisis and the sector's most recent tax increase to 21%, the market has been able to achieve its pre-crisis levels and now enjoys innovative solutions to capture customers through technology and high-level service.

Based on a recent study made by the National association of perfumery and cosmetics (STANPA) almost 85% of Spanish women go to a beauty institute on a regular basis (2-3 times per month) which means women account for 16 million users per year. Summing it up with male attendance, that it is up to 65%, Spain yearly attendance is in average of 28 million customers. To face this demand, it is estimated that there are around 40.000 beauty institutes that go from hair salons to spa or aesthetic centres. This means that that there is 1 beauty institute for every 900 people on average. Most of the institutes are located in the Madrid and Barcelona area and overall the market generates around 5.2 billion euros per year.