US spa market suffers ‘disastrous’ 2009
Economic downturn hits spas
The US spa industry has described its 2009 figures as a ‘disaster’, with consumers deserting spas as a direct result of the recession.
Revenue for the period fell 15% on the previous year, according to a new report by Diagonal Reports. The US spa market, which has enjoyed double-digit growth in recent years, has been blamed for not responding to the economic downturn quickly enough, while consumers have tightened their belts and reduced spending on more luxury items.
“Even high end clients are conserving their wealth and spending it differently,” notes one spa manager.
In response, many spas are said to have created more ‘compact’ spa treatments, offering smaller price and shorter time packages. However Diagonal does not expect any upturn in consumer spending in the region until 2011 or 2012.