For beauty and personal care businesses, becoming part of customers’ lives and routines is essential to their bottom line. Salon and spa owners know they need to provide consistent, high-quality services to customers to keep them coming back.
But providing traditional services isn’t enough. Offering new experiences, products, and educational opportunities, for example, can help salons and spas satisfy customers — especially younger ones.
Square 2024 Future of Commerce data found that 49% of global consumers are interested in offerings outside of traditional services from beauty and personal care businesses. That number jumps even higher for younger consumers — 78% of Gen Z and 69% of millennial consumers are interested in new offerings and experiences at the beauty businesses they frequent.
Embracing a multihyphenate business model by going beyond what’s expected can give salons and spas new avenues for engaging customers, expanding their customer base, and increasing profits through new revenue streams. In the Square Future of Commerce survey, consumers from across the globe reported that they’re interested in five particular offerings at their local beauty businesses. Here’s what they are, why they’re important, and how both salons and spas can consider incorporating them into their business models.
