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Barber Shops in the US - Industry Market Research Report

Publisher IBISWorld
Published Sep 04, 2024
Length 71 Pages
SKU # IBSS19342547

Description

Barber Shops in the US - Industry Market Research Report


Barber Shops in the US

Barber shops are made up of establishments that are primarily engaged in cutting, trimming and styling hair and beards for men and boys. Through the end of 2023, barber shops have performed well, as revenue grows at a CAGR of 0.6% to an estimated $4.9 billion, including a 3.9% reduction in 2023 alone. While there hasn't been a significant or notable uptick in demand for barber shop services over the past five years, a steadily growing population has contributed to revenue growth by providing barber shops with a larger customer base. This trend was disrupted in recent years by COVID-19, which contributed to a slump in consumers' spending and caused barbers to generate less money per person in 2023 than they did in 2018. Nonetheless, the use of social to market barber shop services helped bolster core revenue streams, since consumers may be motivated to see a high-end barber, after seeing a new hair style on Facebook or Instagram. These trends helped barber shops offset major volatility amid COVID-19 and deliver a strong performance in revenue over the past five years.

Barber shops include men’s hairstylist shops primarily engaged in cutting, trimming and styling men’s and boys’ hair. Barber shops also 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."

Table of Contents

71 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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