Zenoti releases The 2023 Beauty and Wellness Benchmark Report, the definitive collection of timely business performance data for salons, spas, and medspas

The 2023 Beauty and Wellness Benchmark Report

Owners of salons, spas, and medspas can now see how they compare to the rest of the industry, and adopt strategies shown to boost business and growth.

BELLEVUE, Wash. (PRWEB)
March 23, 2023

Zenoti, the technology provider powering more than 25,000 beauty and wellness businesses, today released The 2023 Beauty and Wellness Benchmark Report, the industry’s definitive, up-to-date performance benchmark data for salons, spas, and medspas in the United States and Canada. The report features industry results for metrics that reflect revenue growth, staff performance, and consumer interactions.

Zenoti analyzed 2022 aggregate data across their technology platform at three benchmark levels: top-performing brands (the top 10%), high achievers (the top 25%), and the industry average. With the report’s benchmarks and complementary insights, business owners can see how they compare to the rest of the industry and adopt strategies shown to boost business and growth.

“Over the past 13 years, our mission has always been to help beauty and wellness businesses be their very best,” says Sudheer Koneru, Zenoti founder and CEO. “This report is part of our commitment – giving every business owner and manager the insights they need to examine and understand their own performance, and make confident decisions for the months and years to come.”

Inside the report

The 2023 Beauty and Wellness Benchmark Report provides benchmarks for six industry business segments: full-service salons, barbershops and other quick-service salons, full-service medical spas, medical spas with a single-service focus, spas with a membership model, and spas without a membership model. With this level of detail, nearly every beauty and wellness organization can find information relevant to their size and business model.

“Zenoti is uniquely positioned to cull and analyze this data for the industry,” says Koneru. “Because we help thousands of businesses do what they do best – helping customers feel their best – we have deep insights into guest preferences, store workflow, and business management. By sharing this data and knowledge with the industry we love, Zenoti intends to help every brand know where they stand and what it takes to run a lucrative, fulfilling business.”

Key industry findings

The report also reveals high-impact findings, including a three-year trend on the power of gift card sales, with one of every five gift cards redeemed by a new customer. Another key finding shows that the more customer feedback a brand receives, the more their average customer spends per visit.

“Information like this is critical for today’s businesses,” says Srinivas Karuturi, chief data officer at Zenoti. “Without data to reference and compare to, there’s really no way to understand your place among peers and competitors.”

“But every brand must have their own metrics to start so they don’t end up relying on gut instinct. More than just basic revenue stats, but specific indicators around growing revenue and having a satisfied customer base. Our benchmark report includes those metrics – and every business using Zenoti software already has that data about their own organization.”

The 2023 Beauty and Wellness Benchmark Report can be downloaded now.

ABOUT ZENOTI

Zenoti powers more than 25,000 beauty and wellness businesses across 50+ countries. Their end-to-end, mobile-led software helps businesses elevate their guest experience, unify their brand, and streamline operations.

Salon, spa, and medspa owners, managers, and staff use Zenoti to seamlessly run every aspect of their business, online and in-person. Zenoti provides a single solution that includes online appointment bookings, POS, CRM, employee management and engagement, inventory management, built-in marketing programs, and more. For more information, see zenoti.com.

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