We like following industry specific trend sources. They provide a different perspective on the general trends likely to impact small business. Because of this, we were quite excited by this month's trends articles in Beauty Store Business Magazine.
The beauty store industry is quite big. According to the U.S. Census Statistics of U.S. Businesses (2009), about 1,000,000 Americans work for the roughly 170,000 shops and businesses that provide beauty services.
This includes barber shops, beauty salons, nail salons and hair, nail and skin care services (for those of you into government data, NAICS codes 812111 - 812113).
December's issue of Beauty Store Business magazine has several articles on beauty trends. Retailers Have the Ball describes the changing nature of the retail beauty industry and the growing role technology is playing. Key summary quote from the article:
"... consumers are still insecure about spending; the luxury market is taking off; technology is increasingly integral to retailing; consumers are starting to keep it local."
5 Beauty Trends, from the same issue, covers the 5 key product categories expected to be important in 2012.
As an aging baby boomer I can most relate to the trend towards at-home skin care. Boomers are increasingly worried about aging and looking old. This is leading to a boom in anti-aging products.
Beauty trends are important for several reasons. They reflect consumer trends in general. They reflect what is going on in retail -and especially small retail - and they show the growing role technology is playing across the economy.
Check out the articles for more details.