Beauty Services Affected by Market Inflation: Here’s How To Get Around Price-Hikes
With market inflation increasing prices globally for virtually everything, it’s been tough on consumers to create a budget that fits in health and beauty services like before.
Market inflation is frustrating, but there are some convenient ways of getting around increased prices.
Inflation basics: Find out below how to avoid price-hikes.
When it comes to market inflation, a very simple way of understanding it is by checking the prices of your haircuts. Haircuts are an interesting form of purchase that cannot be sourced internationally in any shape or form. So as the cost of haircuts rise, it begins to show how growth inflation is shaping the domestic economy.
Increased average haircut price
According to the Bureau of Labor Statistics, the average haircut price has risen about 6.2% from a year ago — the largest annual increase since 1982. While it is easy for consumers to be upset about these prices, business owners are not happy about these price-hikes either. The reason for these increases are usually due to the higher costs of salon equipment and rent/utilities for shops. Business owners are taking a large hit, which is then inevitably transferred to the consumer through higher priced services.
Decrease of in-person services
While price increases may help salons stay afloat, there is now another problem: customers are waiting longer between cuts. Most customers say they are worried about driving across town for an expensive haircut even more now, especially with increasing gas prices.
Rise of on-demand services
Interestingly enough, even with the current market inflation rates, the costs of on-demand health and beauty services have not gone up at the rate which they have for salons and barber shops. MOBILESTYLES, the #1 on-demand beauty and health app, has been able to keep competitive rates for PROs and fair prices for consumers despite growth inflation. Because all of the services offered by MOBILESTYLES are performed at the client’s chosen location instead of a salon, many of the issues that regular salon owners are facing, such as increased rent, are completed negated. This makes the phenomenon of on-demand services especially appealing, with additional benefits such as convenience and saving time — proven by the 4,000 downloads of the MOBILESTYLES App per month.
The demand for mobile health and beauty services skyrocketed during the pandemic. With most shops up and running again, it's surprising to see how many people are not returning for in-person beauty services as soon as most had hoped. While market inflation has played a huge role in this, the convenience of on-demand services may have also played a huge role in this new trend.
MOBILESTYLES offers tons of health and beauty services at the tips of your fingers, all which can have a PRO at your door within 2 hours! Book your first appointment today through the MOBILESTYLES App!