With the holiday season right around the corner, it's pivotal for spa owners to ensure they are adapting and excelling in this ever-changing industry. Following the pandemic, the spa industry has been changing year on year meaning spa owners face new challenges and opportunities. In this article, we will discuss some of the main trends in the industry and show how Trybe can help tackle these challenges.
Keeping up with the times:
In 2018 82% of spa travel bookings were made without any human interaction and this number has only continued to rise with the growth of the market following the pandemic. The spa market is one of the fastest growing industries and is expected to register a CAGR (Compound Annual Growth Rate) of 14.3% between 2021 and 2028. This increase creates huge potential for spas to grow at a rate previously unseen in the industry but only if they are willing to embrace change and meet the demands of the customers. To truly benefit from these changes it's important to both drive customers to your online booking engine and more importantly, is converting those clicks into bookings.
The advancements in technology mean we’ve become accustomed to being able to perform appointments in an instant. However, the spa industry has been slow to adapt to this new demand with many spas still only offering phone bookings or even request forms that won’t be answered for up to 2 days. This delay also leads to a lot of lost revenue, 50% of booking with Trybe occur within 7 days. That means you could almost double your revenue using Trybe.
This causes a multitude of issues, firstly it will lose impulse customers who want to book an appointment spontaneously but will change their mind given time to reconsider. Another key factor is the amount of time needed to manually take these bookings, this is time that the practitioner could spend performing treatments and maximizing revenue.
No Show Epidemic:
Research has shown that 37% of spa bookings are cancelled within two days of the appointment and 27% are cancelled on the day. Taking bookings manually leaves the spa vulnerable to this problem. This is another reason why using an online booking engine is critical. In February of this year, Trybe launched their “No Show Protection” which requires a client to enter card details while booking their appointment, meaning if they try to cancel last minute the spa can charge them.
Trybe has studied the issues discussed above and designed a system that is designed to strive in this changing market. With Trybes online booking engine customers can view live booking availability. Trybe has found that their customers have a 40% conversion rate which means almost 1 in 2 people are booking packages, treatments or sessions. Once these bookings are made the booking is dropped straight into your calendar.
Thanks for reading!