Magazine for the professional nail industry.
Issue link: http://nailsmag.epubxp.com/i/331871
i n d u s t r y s t a t i s t i c s 2 | NAILS MAGAZINE | 2013-2014 thE bIG book 2 | NAILS MAGAZINE | 2013-2014 thE bIG book wo government entities gather statistics on U.S. businesses and publish official statistics on the U.S. nail industry: one is the bureau of Labor Statistics (bLS) and the other is the U.S. Census bureau. In its most recent report, the bLS says that there are about 82,000 jobs in the nail market. NAILS says it's more like 364,247. the Census bureau says the nail industry is a $1.6 billion annual business. NAILS says it's $8.28 billion. Who's right? I am confident that no one has better numbers on the size of the U.S. nail market than NAILS Magazine. the basis for the government numbers explains why their figures are (in my opinion) dramatically understated. Neither organization considers the self-employed in its count of the number of jobs in this industry, for instance. Considering that 30% of nail technicians are booth renters and 31% are salon owners of very small businesses, that's a pretty major adjustment. here's how we at NAILS start the process of quantifying the nail industry (and why I think we're right): > We break out the Vietnamese market when it comes to service prices, because historically, service pricing in the Vietnamese market has been anywhere from 30%-50% lower than the non-Vietnamese market. > We estimate that half of eligible licensed nail technicians aren't actually practicing nail care. > We look at eight service categories to calculate market size. one thing I can say for the "official record" is that it at least shows that our industry is growing: the Census bureau shows a 37% increase in the market size (by business revenue) in just the last five years. We welcome your feedback on the big book and happily answer any questions you have, even if you challenge us with government-produced statistics. We're happy to help anyone who is researching the nail industry. — Cyndy Drummey cyndy.drummey@bobit.com (310) 533-2531 Sources for data footnoted on pages 42-67: [1] 2012-2013 NAILS big book; [2] NAILS' own estimates; [3] April 2013 survey by Professional beauty Association; [4] NAILS' publisher's circulation data; [5] web poll conducted on NailsMag.com in 2013; [6] Mintel: nail care report (1/2013); [7] Google Analytics (9/2013); [8] based on 2010 U.S. Census bureau data and NAILS' own estimates. We pulled data this year from a variety of sources: • An online survey of our readership and online users • An online survey to the readers of VietSALoN • Regular monthly polls of our online users of NailsMag.com • Focus groups conducted at our NAILS headquarters office in California • Research and data-gathering done by outside groups, including the bureau of Labor Statistics, the U.S. Census bureau, the state boards of cosmetology, business license databases, and several others. i n d u s t r y o u t l o o k I want to thank George Schaeffer and Suzi Weiss- Fischmann of OPI Products for their generous support of this annual research and the Big Book. ir sponsorship of this statistics section makes it possible for us to do deep research on the industry and present it in a way that is practical and actionable. T $9 billion $8 billion $7 billion $7.30 $7.47 $8.28 What is spent on nail services? 2011 2012 2013 na05-95BigBook_statsNOads_reprints.indd 2 6/3/14 4:16 PM