Mumbai: Post the pandemic’s impact on daily life, 59% of respondents are eager to resume spa and salon visits, while 79% of men unhappy with self-cuts and are already back to salons for haircuts, says a study by Red Quanta. They have conducted in-depth analytical research across 15 cities in India with a sample size of 1,516 people that fit well into the TG of premium and mass-premium salon chains.
2020 may have been a blip for the Indian salon industry that came to a halt during the pandemic. While there has been a paradigm shift to a DIY model with the organized at-home beauty service segment, salons retain a generous market share and amplified margins basis multiple growth factors. The study highlights the dynamics in play, and why salons can expect to resume their growth trajectory from where they left off—in spite of the emergence of the at-home segment.
“Given the growing awareness for self-grooming and the increasing social media savvy consumer base demanding to meet benchmark beauty standards, the salon industry in India is seen as booming in the recent past. The introduction of more organized and widespread at-home services escalated during the lockdown paving the way for salons to upgrade to an experience-centric model which is likely to lead to even more pronounced gains,” said Pankaj Guglani, Managing Director at Red Quanta.
Below are some key findings from the report:
Increasing Purchasing Power of the Indian Consumer
8% of the respondents reported an increase in household incomes since February 2020
Greater inclination to spend on everyday lifestyle
76% people said they will spend more on leisure activities than they did earlier once the vaccine is out
Men’s growing interest in grooming
29% of the male respondents said they are used to getting specialized grooming services
A large number of young people in the country
50% of the Indian population is below the age of 25; and 65% below 35
Consumer sentiments, international trends, and the recovery shoots so far, all point to a prosperous path ahead. To say the least, the dopamine rush of walking into an oasis of elaborate shampoos and steamy chambers is not declining any time soon.