ESP Industry Stats and Analysis for January 2021

Do you want to know how the industry fared and how revenue compares with last year? Read ESP’s detailed analysis below. To find out how to implement strategies to improve your revenue and monitor the results contact the ESP Connect team on info@espconnect.africa

Industry Analysis for Hair and Beauty

We have seen total industry revenue decrease by 15% when compared to December 2020, while this is quite normal as the festive season comes to an end and majority of South Africans return to work.

As a whole the industry has generated 24% less revenue and seen 33% less clients in January 2021 compared to January 2020 with the hair industry at 23% less and the beauty industry at 28% less. The standout statistic for me has been the average per docket charge which has increased by 17% which is the highest it’s been since July last year. As an industry it seems we are getting to grips with maximising spend per visit.

January 2021 vs February 2021

We have seen a 7% increase in total revenue when comparing January 2021 to February 2021, which is good recovery considering that we spent all of January in a level 3 lockdown, with the average charge per docket increasing by 6% and an increase in total dockets of only 1%.

The effects of normal seasonal decreases and a month in lockdown are plain to see. Some businesses will not be able to sustain the loss in revenue and close their doors, this in turn will create opportunities for the businesses who are able to navigate through these challenges as well as entrepreneurs and groups looking to acquire running concerns.

These stats are drawn from the ESP client base that make use of our Business Intelligence service. These businesses owners are actively involved in their businesses and use the BI to track and understand the trends which allow them to formulate and implement strategies that will make a meaningful difference to the bottom line.

To find out how to implement strategies to improve your revenue and monitor the results contact the ESP Connect team on info@espconnect.africa.