Every year brings a fresh wave of viral moments and must-have treatments that redefine the beauty industry. But it’s not the latest beauty crazes that categorize the most successful beauty businesses (sure, they can help). It’s how business owners apply their creativity to innovate, find operational efficiencies, and improve the client experience—even in the face of economic headwinds.
To uncover the biggest shifts shaping the industry, Square surveyed 2,000 beauty business owners and managers across the United States, Canada, the United Kingdom, and Australia to understand their challenges and plans for the year. It also surveyed 4,000 consumers to understand their spending habits and service expectations. Square discovered that while consumers have trimmed their spending in retail and restaurant purchases, they continue to prioritize beauty services and wellness routines. In response, beauty business owners are embracing new revenue streams, enhancing loyalty programs, integrating technology, and refining their client experiences.
Whether you own a cosmetics brand, sell skin care products and …