Hair salon equipment is a combination of materials, objects, and equipment required for hair care and treatment from basic to specialized. This industry has been significantly driven by changing consumer preferences, precisely from the women segment. The style statement has become a trend in the grooming and personal care industry whereas increasing pollution in the environment has made it a routine to get hair treatment done for the upper class segment. Rise in disposable boosts the growth of the market.
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COVID-19 Scenario Analysis:
Production shutdown scenario
The production of hair salon equipment has been abruptly shut down and this has created a reduction in the stock produce. Also the disruptions in supply chain led to problems in acquisition of raw material and supply of finished goods, especially across borders.
Decline in demand for hair salon equipment
The lockdown has led to a decline in external visits and this reduced demand for the hair salon equipment. Visits to salons and personal care treatments declined owing to the implications of COVID-19 and this has resulted in contraction of market for undefined time.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increase in disposable income intrigues the customers to develop more interest in non-essentials or the products that have over edge benefits. The demand for such commodities is expected to boost with the rise in purchasing power of the population. This is a significant factor playing a major role in the hair salon equipment market. The leading marketers compete on product quality, advancement in technology, and improvement in the benefits that the product yields. The consistent improvisations strengthen the market base for hair salon equipment; however, lack of demand from the lower class segment and high price of quality products continues to hamper the market growth.
The global hair salon equipment market trends are as follows:
New product launches to flourish the market
The launch of hair salon equipment was a major innovation in the personal care and grooming industry. The changes in consumer behavior leads to modification of equipment, enhancement of product utility, and expansion of market. These include hair chairs, hair trolleys, hair sprays, dryers, and others.
Diversification in product and distribution channel
Since the personal care products are highly customized, the equipment used in the hair salon and treatment need consistent moderations and alterations. For this, the products need to be diversified so that adequate revenue could be generated from the same.
The distribution channel for the hair salon equipment also needs to be diversified. Some products can be easily acquired from departmental stores and supermarkets such as hair accessories, serums and sprays whereas some equipment can be availed from specialty stores. This increased the need to create diverse channels of distribution to ease the supply of different kinds of equipment. Another platform for the disbursement of products is the online platform of selling that has gained popularity in the recent times. All this ease the market operations and boost the growth of the market.
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Key Benefits of the Report:
This study presents the analytical depiction of the global hair salon equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hair salon equipment market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global hair salon equipment market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global hair salon equipment market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Hair Salon Equipment Market Research Report:
- What are the leading market players active in the hair salon equipment market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
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