Brits are increasingly being exposed to a new kind of salon – the 24 hour hair care salon.
Imported from Tokyo and New York, these beauty salon businesses harmonise with the busy lives of working professionals. As the millennial generation is working longer hours than their parents, they’re placing a premium on convenience.
The Growth of the Hair Care Industry
Online shopping has freed us from the constraints of time and location, with next day delivery allowing us to receive almost any product at a time of our pleasing. As a result of the online shopping explosion, the novelty of having 24 hour supermarket access is facing a sharp decline and the modern consumer is calling the shots. It is reported that Tesco will be closing some of its 24 hour stores. However, this model is being translated into the beauty and wellness sector. These late night (and in some cases all hours) beauty salons now cater to a new kind of client that views hair care and beauty not as a luxury but rather as a necessity. This demographic is gravitating towards commercial outlets capable of dealing with early morning and late night appointments.
Certainly, the demand is there. The beauty industry has seen sharp growth since the turn of the century, even remaining bulletproof during the recession by growing from £6.1 billion in 2008 to a reported £7.1 billion in 2013. And this trajectory looks set to continue with forecasts predicting a 16% growth in 2016. Situated at a reasonable price point, and the one item that is a consistent personal fixture, hair care has always been placed at a premium. According to a recent study, the average woman now spends more than £14,000 on her hair between the ages of 18 and 50, with an average of £37 a month.
This is seen even at the highest levels of power. Interestingly, no bald British Prime Minister has ever been elected and hair care professionals have received a slew of awards from our own government and royalty. Lino Carbosiero, the hairdresser to David Cameron was appointed an MBE in the New Year’s Honours whilst the Queen granted her personal stylist, Ian Carmichael, a royal warrant.
The importance of good hair cannot be understated. From the Royals to executives to florists, many women (and increasing numbers of men) are demanding hair care at their own convenience and at an affordable price.
The Progression of 24 Beauty Salons
Beauty salons and spas such as Pure Spa UK, Blow Ltd and the Neil Cornelius salon are all gaining attention and garnering support for their minimum fuss, low cost, and quick approach to hair and beauty. With many of these salons having features in Grazia, the New York Times, Vogue, and Harper’s Bazaar, they are clearly attracting attraction.
Blow Ltd places a premium on speed. Clients are offered a veritable whirlwind of beauty treatments – 30 minute makeovers, 20 minute make-up sessions, or a 15 minute mini manicure give rushed customers a quick pep. And the Cheeky Parlour, a part of Barber & Parlour, an initiative launched by Soho House, offers customers a blow-dry for £15, and a manicure for £10 – affordable rates that make the beauty industry even more accessible.
Given that the average British woman spends 43 hours per week at work, a figure that is beaten only by the workforces in Japan and America, it will be interesting to see the progression of these 24 hour beauty salons. At Boost Capital, we expect to see a continued increase over the next decade as more women are working far harder and facing pressure to look the part. If you’re considering opening or expanding your own salon, Boost Capital has the experience the help you keep in sync with the latest trends in the spa and beauty industry.