New research released on the heels of the Global Spa Summit held in Bali, Indonesia, points to an economic turnaround for spas; growth of wellness segments; and increased social networking, among other trends:
• The economic turnaround is directly, positively impacting the spa and wellness industries: 82 percent predict an increase in gross revenues for 2011.
• Training and education ranks as the number-one challenge facing the global spa industry today (27 percent), followed by standards/definitions/best practices (12 percent), with oversupply of spas (10 percent) ranking third.
• Executives predict that among all spa/wellness segments over the next few years, preventive medicine will experience the greatest growth (44 percent), followed by beauty and cosmetic (24 percent).
• Fifty-seven percent of spa executives report that social media campaigns are driving an improvement in customer bookings and sales, but 26 percent still don’t engage in any social media initiatives.
• Thirty-seven percent report that group buying and online deal sites have driven an improvement in customer bookings and sales, but 58 percent don’t participate in group buying and online deal sites.
• China ranks as the number-one place industry leaders would most like to expand their business (31 percent), followed by other countries in Southeast Asia (28 percent).