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A Spa: Business Scenario Presentation

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Introduction

To start and run a successful Spa business, one requires:

  • A proper analysis of the market.
  • Proper forecasts of the industry.
  • A comprehensive understanding of consumers’ mindsets.
  • Knowledge of opportunities and challenges in the industry.

Introduction

Spas and the global wellness market

  • The article is available online.
  • It is authored by the SRI International.
  • The data available addresses how spas contribute to the wellness market.

Spas and the global wellness market

Data available

The article addresses:

  • Synergies and opportunities.
  • A rigorous investigation of the market and consumer forces.
  • How the spa industry can benefit from growth in the wellness industry.
  • Drivers of the market.

Data available

Importance of the article

The article offers:

  • Estimations of the global market size of the wellness industry.
  • An explaination of the spa industry as the biggest in the industry worth $60.3 billion (SRI international, 2010).
  • An analysis of potential markets for a spa business.
  • An analysis of the future of the industry.

Importance of the article

Usefulness as a learning material

  • It offers a survey of the overall wellness industry.
  • It is an analysis of opportunities for spas in the wellness industry.
  • Reccomendations for moving the industry forward.
  • Spa terminologies and concepts in relation to the beauty and wellness industry.
  • It is an evidence based consumer research.

Usefulness as a learning material

The new consumer mindset

  • The article is authored by Euromonitor International.
  • It is available online.
  • Major types of data addressed include forecasts and emerging markets analysis.
  • The article also analyses the changing consumer mindset.

The new consumer mindset

Available data

  • Emerging markets and GDP growth 2005-2015.
  • Effects of the recession in different regions.
  • Consumer spending 2007-2015.
  • Key trends in the market.
  • The global nutraceuticals markets.
  • Beauty and personal care industry performance.

Data available

Significance of the article

  • The article offers key trends in the industry, which gives an investor ideas.
  • It gives an outlook of the beauty industry to help one know where to invest.
  • It offers forecasts in the indutry to allow proper planning.
  • It gives an analysis of the consumer mindset making it easier to design a marketing strategy.

Importance of the article

Importance as a learning material

  • Offers an insight into the post-recession consumer behaviours and the recovery of markets.
  • Compares the spa market and other markets.
  • Explains health and wellnes, pointing out its a key strategy for economies (Euromonitor International, 2010).
  • Gives a closer look at the consumer as the biggest asset for a business.

Importance as a learning material

Reference list

Euromonitor International. (2010). The new consumer mindset. Web.

SRI international. (2010). Spas and the global wellness market: Synergies and opportunities. Web.

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Reference

IvyPanda. (2022, July 10). A Spa: Business Scenario. https://ivypanda.com/essays/a-spa-business-scenario/

Work Cited

"A Spa: Business Scenario." IvyPanda, 10 July 2022, ivypanda.com/essays/a-spa-business-scenario/.

References

IvyPanda. (2022) 'A Spa: Business Scenario'. 10 July.

References

IvyPanda. 2022. "A Spa: Business Scenario." July 10, 2022. https://ivypanda.com/essays/a-spa-business-scenario/.

1. IvyPanda. "A Spa: Business Scenario." July 10, 2022. https://ivypanda.com/essays/a-spa-business-scenario/.


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IvyPanda. "A Spa: Business Scenario." July 10, 2022. https://ivypanda.com/essays/a-spa-business-scenario/.

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