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SPA How to Use Spa Industry Statistics as a Business Tool Why Spa Businesses Need Spa Industry Statistics by Julie Garrow, Managing Director of Intelligent Spas Like any other small, medium or large business, it is imperative that analysis and planning activities be conducted to minimise the risk of failure. One of the first questions to ask yourself is “how is my business doing?” and this can easily be answered by comparing your spa’s performance against industry averages. The overall industry average for your country is a useful guideline, however where the survey response rates are high enough, industry averages may be broken down further to enable more accurate analysis by calculating, for example, industry averages for your particular type of spa and industry averages for your spa’s specific location. Unique and common facilities and service offerings may also be measured and analysed to assist the planning for the business’ future. Consider: At what point does a facility or service offering change from a consumer novelty to a consumer expectation? If for example, a high proportion of spas offer a relaxation room, one may assume as spa consumers become more experienced, they may come to expect a relaxing area within a spa and be disappointed if they do not have the opportunity to enjoy that type of facility before and/or after their spa treatment. 28 HOSPITALITY MALDIVES OCTOBER/NOVEMBER 2006
SPA Spa businesses that do not offer a relaxation area may decide to redesign their space to incorporate a relaxation area, aiming to increase and maintain competitiveness, retain existing clients and attract new clients. From the industry perspective, if a small proportion of spas offer a facility or service, is it a unique differentiator which they may promote to attract more visitors? For example, if only 7% of spas offer a plunge pool, do they have a competitive advantage? Could your spa business benefit from introducing new facilities or services that are currently not very common in your market place? In order to attract visitors, it is critical spa businesses offer facilities, treatments, services and products which consumers expect and prefer. Study the industry benchmarks to fill in gaps in the spa’s offerings and ensure spa menus, other printed collateral and web sites effectively promote all of the offerings so the spa does not fail a “paper” or “internet-based” evaluation by potential clients. Another purpose for industry research is to identify new industry trends, which you may choose to, or not to, adopt, depending on the business opportunity for your spa business. The trend must comply with the vision, concept and brand image of your spa, so for example, you may choose not to address the trend of “more males visiting spas”, instead specialising in women’s issues and related therapies to create a higher level of expertise and reputation for such services, in comparison to your competitors who may target both female and male clients. “ …existing businesses can act to retain existing clients by ensuring service standards are high and their offerings are effective and relevant to their clients’ needs. ” New spa developments may also use the industry statistics to assist the concept design and planning of a new business. This is often seen as a negative for existing survey participants, however the availability of industry statistics may actually benefit existing businesses as new entrants easily identify where the market is currently, or potentially saturated, and choose a different concept and path by offering alternative services. This also benefits the new entrant by offering complementary services, rather than the same services, and attempting to displace clients from existing spas. Any new entrant into the market may be challenging, however existing businesses can act to retain existing clients by ensuring service standards are high and their offerings are effective and relevant to their clients’ needs. Why Suppliers, Financial Institutions, Associations, Tourism Authorities and Other Related Organisations Need Spa Industry Statistics Over recent years, there has been a lot of hype about the spa industry which has generally been positive for spa businesses in terms of generating visits. However the downside of hype without accurate facts is that suppliers, financial institutions, associations, tourism authorities and related organisations cannot support the industry effectively. Industry statistics give these related organisations the necessary inputs for their own business analysis and planning activities and it is very challenging for these organisations to commit to the spa industry without supporting information. For example: Suppliers - design and develop relevant products and equipment to support spa business; Financial institutions - approve loans for new spa businesses or expansion of existing spa businesses to realise business visions; Associations - rally government and suppliers for industry incentives and group discounts to minimise spa business costs; and Tourism authorities - allocate funds for spa industry marketing and awareness campaigns to increase spa visits. The Connection Between Spas and Tourism Domestic and international tourism statistics are included to illustrate the volume of travellers and the incremental spa visits which may be possible by effectively using relevant channels to promote spa services and spa products. Destination spas are close to tourists, given their integration with accommodation facilities, and have a great opportunity to maximise spa visits. Day spas may also tap into this market segment through cooperative marketing campaigns with nearby hotels (Source: Intelligent Spas, Spa Integration for Hotels, Resorts, Serviced Apartments and Similar Facilities). Julie Garrow, Managing Director of Intelligent Spas represented three of the big four global tourism, leisure and hospitality consulting firms in Australia and Singapore between 1992 and 2001 and draws on over seventeen years research experience from both industry and consulting perspectives. Intelligent Spas is an independent research company specializing in the spa industry. Founded in Singapore in 2001, it has pioneered spa industry research in the Asia Pacific region and continues to publish a range of Spa Business & Operations Manuals, Spa Consumer Surveys and Spa Industry Surveys to assist the development and growth of this niche industry. Intelligent Spas provides research which businesses find logistically and financially impossible to collect. Independence Defined... Intelligent Spas is unique as it offers a completely independent view of the spa industry. All our research is self-funded and Intelligent Spas: 1. 2. 3. 4. ● ● ● ● Does not conduct consulting studies for individual businesses; Does not form alliances with third parties; Does not have interests in other businesses; and Is not influenced by members, committees or sponsors. This independence policy ensures the confidentiality of all individual survey responses submitted is maintained, and publications are prepared without bias and for the benefit of all members of the spa industry. For more information, please visit www.intelligentspas.com HOSPITALITY MALDIVES OCTOBER/NOVEMBER 2006 29
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