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Spa And Salon Software Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)
With the rising demand for healthy and standard lifestyles, people are looking for services that can relieve stress caused due to a busy lifestyle. Consequently, spa and salon services are gaining traction, which, in turn, is increasing the demand for the spa and salon market. This results in the investment in spa and salon management software, to streamline business activities. This software manages the business efficiently, adds value to the business, and allows businesses to manage customers efficiently and grow exponentially.
- Major factors, such as effective client management, employee management, effective promotional and marketing activities, organizing client appointments and bookings, planning and control, resource management, and automation, are driving the growth of the market.
- For instance, a salon can make use of salon software to manage appointments, accommodate requests for new ones, manage postponed appointments, and reschedule existing ones to make their business more efficient and profitable.
- However, the initial setup cost involved with the software includes installation and training ...
... costs, which are usually high, restricting the growth in small and medium businesses. Further, the interoperability issue is expected to arise while using the software to automate the processes completely.
Key Market Trends
Cloud-based Software to Gain Maximum Market Traction
- Cloud-based software allows a business to set up a virtual office, which offers the flexibility of connecting to the business anywhere, at any given time. According to a study conducted by the International Data Group, in 2018, 73% of organizations have at least one application, or a portion of their computing infrastructure already in the cloud, while 17% plan to do so within the next 12 months.
- With the gradual shift toward beauty and wellness products, owing to the increasing trend of a healthy lifestyle, the salon and spa businesses are also growing substantially. Hence, the need to efficiently collaborate the business is increasing. Adoption of cloud solutions is expected the business to communicate and share more easily across different locations apart from the traditional methods.
- Factors, such as reduced IT costs, increased flexibility, instant data accessibility and recovery, and business continuity in case of a crisis minimizing the downtime and loss of productivity, are driving the adoption of cloud solutions.
North-America to Hold the Highest Market Share
- The North American region is expected to hold the highest market share in terms of revenue in the spa and salon software market. It is majorly due to the early adoption of beauty salon services and products by individuals and professionals in salons and spas, owing to the increased demand for healthy and standard lifestyles.
- Moreover, the changing lifestyles of the urban population and increasing health and skin problems are stimulating the growth of the market. Further, with increasing disposable income, people are more focused on personal appearance, and the advanced techniques and technologies used in spa and salons are some more products expected to boost the market.
The spa and salon software market is fragmented, owing to the presence of many solution providers, globally. Thus, numerous companies are focusing on partnerships, investing in research and development activities to develop with advanced and innovative solutions.
- May 2019: MINDBODY, the leading technology platform for the wellness industry, acquired Bowtie, an automated AI-driven virtual receptionist solution for appointment-based businesses. Bowtie automatically books clients, answers questions, and enables live chat over SMS and web.
- May 2019: Zenoti, the leading enterprise cloud platform for the beauty and wellness industry, recently announced that it has closed a USD 50 million Series C funding round led by Tiger Global Management with participation from Norwest Venture Partners and Accel.
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