SNAPSHOT SURVEY
QUARTERLY PERFORMANCE
THE APRIL 2023 ISPA SNAPSHOT SURVEY asked respondents to share details about their spa or company ’ s first quarter performance ( January 1 to March 31 , 2023 ) compared to the first quarter of 2022 . The results reported in this quarterly performance survey illustrate the spa industry continues to thrive post-pandemic , but also indicate spa leaders continue to focus on retaining employees to keep them from becoming victims of burnout .
Compared to the same period in 2022 , three-quarters ( 74 percent ) of spas surveyed reported an increase in first quarter revenue . Complementarily , 70 percent of spa respondents reported an increase in profits . Just over 30 percent saw profit increases exceeding 20 percent when compared to the prior first quarter profits . Spa visits were up for 70 percent of respondents .
GROSS REVENUE CHANGE
GROSS REVENUE CHANGE | ALL SPAS
STAFFING CONTINUES TO BE A CHALLENGE , however , as 43 percent of respondents added new positions and 34 percent filled vacant positions . In addition , 60 percent of respondents added a new treatment to their spa menu , and more than half ( 52 percent ) added a new brand or product line to their retail lineup . Of respondents , 18 percent of spas reported on average retail revenue per treatment of more than $ 25 .
When asked to describe any practices or initiatives their company had in place to help reduce burnout and stress among employees , responses included : three-day and four-day work weeks , complimentary treatments , engaging with team members more often , flexibility , comprehensive wellness programs , teambuilding activities , additional PTO days , wellness goals and work-life balance , among others .
PROFIT CHANGE
WORKFORCE CHANGES WORKFORCE CHANGES | ALL SPAS
54 PULSE n JULY 2023