Recent performance has been flat in the Hairdressing and Beauty Salons industry. In the five years through 2011-12, revenue has grown an annualised rate of only 0.9% to reach $3.8 billion this year. According to IBISWorld industry analyst Nick Sallmann, â€œindustry revenue is most sensitive to movements in household disposable income as the industry provides a discretionary service.â€ Due to the global financial crisis, industry revenue declined in 2007-08 and 2008-09, thus contributing to the low growth in the five years through 2011-12.
Revenue is expected to increase by 2.3% in 2011-12. Haircutting and styling services account for an overwhelming share of industry revenue, largely influencing trends in performance. Hence, the low growth rate does not represent the strong performance in other segments like hair restoration. Similarly, negative influences like the falling number of solarium beds have held back revenue growth. Read more.
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