Over the five years to 2018, the Barber Shops industry has performed well. While there has not been a significant or notable uptick in demand for industry services over the past five years, the increasing population has contributed to revenue growth by providing barber shops with a larger customer base. Furthermore, barbers are generating more money per person in 2018 than they did in 2013, as specialized services are becoming more popular, which also contributed to revenue growth. Over the five years to 2023, the industry is expected to continue to grow, albeit at a slightly decelerated annualized rate. While disposable income is expected to increase, the number of adults aged 20 and 64 years old, the industry's core market, will increase only moderately, contributing to slowing revenue growth over the next five years. Additionally, profit margins are expected to decrease slightly, as operators deal with higher wage expenses.
This industry includes men’s hairstylist shops primarily engaged in cutting, trimming and styling men’s and boys’ hair. Furthermore, barber shops shave and trim men’s beards. This industry does not include companies that primarily offer training in barbering or hairstyling.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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