The 2nd part of the 2020 PBA Executive Summit featured a discussion on Consumer Trend Insights – led off by Denise Herich, Co-Founder of The Benchmarking Company.
Denise and her company have been tracking various trends in consumer spend and behaviours within the beauty industry since the beginning of the ongoing Covid-19 pandemic – and thus the information gathered and detailed is extremely useful and relevant.
Topics within this covered included: consumer behaviours, changes in beauty spend, changing habits of clients, changes to beauty professionals income, the impact on salon retail and much more.
The summit was then concluded with a panel discussion, which featured Bertrand Fontaine (President at SalonCentric), Christina Russell (CEO of Sola Salon Studios and The Woodhouse Day Spas), Stefan Mund (Regional Head for Beauty Care Professional North America at Henkel) and Yene Damtew (Former stylist to the Obama family).
Key takeaways from the industry panel discussion included:
- Leaders must be authentic, consistent, vulnerable, transparent, and flexible during times of uncertainty, both internally and externally.
- Regular and frequent communication with clients about the changes being made in your salon is key: keep them in the know about your safety measures, use marketing to share how you’re operating, and highlight your focus on safety and cleanliness.
- The biggest challenge for the entire industry is to make sure your salon or brand has a consistent message among all channels.
- All actors in the industry need to be ready to move technology to new levels—the beauty industry has always been behind in technology, but now it’s important to catch up. The new normal calls for digitalization.
Full details on the summit can be located here.