Financial Data Show Local Beauty Industry’s Pandemic Survival Tactics Weren’t Just Putting Lipstick on a Pig
Social distancing and mask mandates were particularly hard on the beauty industry, whose stock-in-trade is up-close, personal attention. Square, Inc., a San Francisco technology/financial services company, cited how these businesses survived, despite the absence of 1:1 interaction.
The experience of Beauty Marx Aesthetic MedSpa, Doylestown, was indicative of the nationwide response, which turned out to have lasting benefits for the industry as a whole.
“Once we had to shut down all operations due to state mandates, our primary goal shifted to continuing engagement via virtual consultations and online sales,” said Bryan Munshower, Beauty Marx COO.
“We created simple, customized bundles for clients for various needs and made them available for purchase online. Demand has returned and we’re seeing clients are ready to get back out and spend.”
Munshower’s recovery jibes with widespread data showing the industry’s bounce back.
Square cites a 121 percent rise in gross payment volume and a booking volume that has returned to pre-pandemic levels as indicators that the worst is over.
Common survival techniques on a national level included online sales, socially distant salons, virtual consultations, and CRM-driven marketing campaigns. The benefit of the latter will surely continue to drive results, even as COVID-19 case numbers continue to fall.
Customer demand for specific services is surging, perhaps in response to a backlog that built during the pandemic’s most fearful days.
Square data show universal service increases for the following procedures for the period May 2020-2021:
- Body contouring: +363 percent
- Eyelash extensions: +283 percent
- Lip masks: +238 percent
- Nail art: +221 percent
- Hybrid eyelashes, +214 percent
More on Square, Inc.’s assessment of the current state of the beauty industry and its local implications is at AP News.
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