American Salon 0512 : Page 24
Signs of the Times I’ve been wondering why I’ve been in such a good mood lately. Then I realized it has everything to do with the fact that the economic doom and gloom that’s been hanging over our heads for what seems like eons now is fi nally ready to say sayonara. I say good riddance. Doubt that things are looking up? Consider this: The latest fi gures released by the Bureau of Labor Statistics on the rebounding American economy reveal that 243,000 new jobs were created in January. Another survey of 800 clients of legalzoom.com who formed their businesses within the past 12 months, revealed they are excited about their futures. For all of you creative types out there—me included—who prefer some more tangible SHARK FIN® 888-544-7254 PROFESSIONAL SHEARS signs over those boring, straightforward statistics, I did a little digging and discovered there are a slew of out-of-the-box indicators that shed real light on the fact that the country’s fi nancial health is indeed off life support and well on the road to recovery. • GOLF: People from across the economic spectrum are teeing up for golf games again. Courses saw golf rounds move out of the rough and head skyward with a 21.4 percent increase in January over the same time frame in 2011. That means it’s game on for the economy. • CARS: Auto sales are also doing their part to rev up the economy. Ford had its best March in four years, with sales up 5 percent; GM sales were up 12 percent; and Chrysler sales were up 34 percent. • DINING OUT: Foodies are opting to dine at restaurants rather than visiting the drive-through. January sales at restaurants—8.7 percent higher than in the previous 12 months—are a sure sign that the economy is making great gains. • UNDERWEAR: Also on the rise is the Men’s Underwear Index, an unconventional yet accurate measure of how well the economy is doing based on the sales of men’s underwear, frequently espoused by former Federal Reserve Bank Chairman Alan Greenspan. Men’s undies sales jumped 6.6 percent in 2011, indicating a brighter fi nancial picture for the economy. • BEAUTY SALONS: Customers are fl ooding back into salons, signaling that good hair days are ahead for the recovering economy. Beauty salon sales grew at a rate of nearly 5.4 percent last year and in 2010, compared with a 2.3 percent increase in 2009—this according to Sageworks, a fi nancial information entity. What’s more, beauty pros’ profi t margins averaged 7.8 percent over the last two years, which is higher than during the recession. “We’ve been seeing an uptick in our hue and highlight services,” says Sheri Román, owner of a namesake salon in West Hollywood, CA. “People aren’t waiting 10 to 12 weeks to get their haircolor done; they’re back to their regular eight-week intervals.” All things considered, this is great news for all of us in the professional beauty L.A. Galaxy star and father of four David Beckham spurred sales when he posed in his collection of undies for clothing giant H&M. industry. Drop me a line and let me know if business is back on track in your salons. ✂ —Brett Vinovich, publisher, bvinovich@questex.com PHOTOGRAPHY: COURTESY OF H&M (DAVID BECKHAM)
Publisher' Note
Brett Vinovich
Signs of the Times<br /> I’ve been wondering why I’ve been in such a good mood lately. Then I realized it has everything to do with the fact that the economic doom and gloom that’s been hanging over our heads for what seems like eons now is finally ready to say sayonara. I say good riddance. Doubt that things are looking up? Consider this: The latest figures released by the Bureau of Labor Statistics on the rebounding American economy reveal that 243,000 new jobs were created in January. Another survey of 800 clients of legalzoom.com who formed their businesses within the past 12 months, revealed they are excited about their futures. <br /> For all of you creative types out there—me included—who prefer some more tangible signs over those boring, straightforward statistics, I did a little digging and discovered there are a slew of out-of-the-box indicators that shed real light on the fact that the country’s financial health is indeed off life support and well on the road to recovery. <br /> • Golf: People from across the economic spectrum are teeing up for golf games again. Courses saw golf rounds move out of the rough and head skyward with a 21.4 percent increase in January over the same time frame in 2011. That means it’s game on for the economy.<br /> • Cars: Auto sales are also doing their part to rev up the economy. Ford had its best March in four years, with sales up 5 percent; GM sales were up 12 percent; and Chrysler sales were up 34 percent. <br /> • Dining Out: Foodies are opting to dine at restaurants rather than visiting the drive-through. January sales at restaurants—8.7 percent higher than in the previous 12 months—are a sure sign that the economy is making great gains.<br /> • Underwear: Also on the rise is the Men’s Underwear Index, an unconventional yet accurate measure of how well the economy is doing based on the sales of men’s underwear, frequently espoused by former Federal Reserve Bank Chairman Alan Greenspan. Men’s undies sales jumped 6.6 percent in 2011, indicating a brighter financial picture for the economy.<br /> • Beauty Salons: Customers are flooding back into salons, signaling that good hair days are ahead for the recovering economy. Beauty salon sales grew at a rate of nearly 5.4 percent last year and in 2010, compared with a 2.3 percent increase in 2009—this according to Sageworks, a financial information entity. What’s more, beauty pros’ profit margins averaged 7.8 percent over the last two years, which is higher than during the recession. “We’ve been seeing an uptick in our hue and highlight services,” says Sheri Román, owner of a namesake salon in West Hollywood, CA. “People aren’t waiting 10 to 12 weeks to get their haircolor done; they’re back to their regular eight-week intervals.”<br /> All things considered, this is great news for all of us in the professional beauty industry. Drop me a line and let me know if business is back on track in your salons. <br /> ✂ —Brett Vinovich, publisher, bvinovich@questex.com
