Pulse July/August 2024 | Page 50

THE MAY 2024 ISPA SNAPSHOT SURVEY asked respondents to share details about their spa or company ’ s first quarter performance ( January 1 to March 31 , 2024 ) compared to the first quarter of 2023 . The results reported that the spa industry is continuing to increase revenue and spa visits , while also filling vacant positions .

Revenue was up

COMPARED TO THE SAME period last year , 72 percent of spas surveyed reported an increase in first quarter revenue . In addition , 72 percent of spa respondents reported an increase in profits . Just over 15 percent saw profit increases exceeding 20 percent compared to the prior first quarter profits . Spa visits were also up for 64 percent of respondents .

What was your gross revenue change for the first quarter of 2024 compared to the first quarter of 2023 ?

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 %

2 %

3 % 5 %

5 %

6 %

14 %

14 %

24 %

26 %

Down by 35 – 50 % Down by more than 50 %

0 % 0 %

What was your profit change for the first quarter of 2024 compared to the first quarter of 2023 ?

PROFIT CHANGE

Up by more than 50 % 8 %

Up by 35 – 50 % Up by 20 – 34 %

4 % 5 %

Up by 10 – 19 % 23 %

Up by 1 – 9 % 32 %

No Change 5 %

Down by 1 – 9 % 16 %

Down by 10 – 19 %

6 %

Down by 20 – 34 % Down by 35 – 50 %

Down by more than 50 %

0 %

2 %

1 %

48 PULSE n JULY / AUGUST 2024