SNAPSHOT SURVEY
QUARTERLY PERFORMANCE
COMPARING YEAR-OVER-YEAR DATA gives a true estimation of an industry ’ s trajectory . To gauge year-end trends in the spa industry , a recent ISPA Snapshot Survey asked respondents to share details about their spa or company ’ s fourth quarter performance in 2023 compared to the same period in 2022 .
The February 2024 survey considered data from the period between October 1 and December 31 in both years . Compared to the same period in 2022 , two-thirds ( 67 percent ) of spas surveyed reported an increase in fourth quarter revenue in 2023 . More than half of spa respondents reported an increase in profits , and nearly three in five ( 59 percent ) said spa visits were up . These numbers show spas have remained effective in meeting ever-increasing demand for spa services .
Q
What was your gross revenue change for the fourth quarter of 2023 compared to the fourth quarter of 2022 ?
GROSS REVENUE CHANGE
Up by more than 50 %
Up by 35 - 50 %
Up by 20 - 34 %
Up by 10 - 19 %
Up by 1 - 9 %
No Change
Down by 1 - 9 %
Down by 10 - 19 %
Down by 20 - 34 %
Down by 35 - 50 %
Down by more than 50 %
0 %
0 % 0 %
0 %
3 % 6 %
3 %
3 % 3 %
3 %
6 % 8 %
10 %
9 %
9 %
11 % 11 %
14 %
ALL SPAS RESOURCE PARTNERS
23 % 22 %
24 %
Q
Which
31 %
IN HOPEFUL NEWS that may indicate a long-term staffing shortage may be decreasing , many spas filled vacant positions during the fourth quarter . Slightly less than half ( 46 percent ) of spas surveyed filled vacant positions , and more than a quarter ( 26 percent ) added new positions .
Resource partners experienced a prosperous fourth quarter , with four in five ( 80 percent ) reporting an increase in fourth quarter revenue compared to the same period in 2022 . Additionally , more than two-thirds ( 69 percent ) of resource partner respondents reported their profits were up .
of the following , if any , did your spa do during the fourth quarter ?
SPA ACTIVITIES DURING FOURTH QUARTER
Added a new treatment to the spa menu
Reduced the number of treatment options on the spa menu
10 %
ALL SPAS
48 %
RETAIL SALES AND SPA MENU refreshes have been trending topics with members . During the fourth quarter , half ( 50 percent ) of spas added a new brand or product line to their retail lineup , and a similar ratio ( 48 percent ) added a new treatment to their spa menu . Twenty-two percent of those surveyed said their average revenue per treatment for Q4 was more than $ 25 . |
Added a new brand / product to the retail lineup
Updated or changed the spa ’ s software
Invested in a marketing promotion or campaign
Held a job fair or open house promoting job openings
None of the above
|
3 %
2 %
|
27 %
26 %
|
50 % |
62 PULSE n APRIL / MAY 2024 |
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