Beauty Store Business provides solutions for better retailing! New products, industry news, savvy business moves and important trends affecting both brick-and-mortar and online retailers are included in each issue.
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54 October 2017 | beautystorebusiness.com JNemchinova, gettyimages.com Our guide to the hottest wigs and extensions on the market—plus, expert tips to sell them fast! T he must-have accessories for consumers look- ing for a fresh new hairstyle, wigs and hair extensions can take years off one's appear- ance, make hair look voluptuous and offer the styling convenience of switching up a look in min- utes flat. Celebrities have helped reduce the stigma that used to be attached to wearing wigs and hair extensions, and now adoring fans often seek to mimic their favorite celeb's ever-changing hair- styles. Underscoring this trend is the latest research on the market, which places wig and hairpiece revenue at $474 million, with an annual growth rate of 5.4 percent for the past five years, according to market research firm IBISWorld. Beauty stores can increase their share of the pie in a number of ways. "Have the most knowledge- able, helpful, courteous staff," says Rich Gienopie, president of Estetica Designs. "Give your customers a real positive experience in your shop. Help them in whatever ways you can." It's also important to value your reps. "Maintain a good relationship with your rep at each of your vendors so you can ensure that you are getting the newest styles, the best colors and the latest trends," Gienopie says. "Having that edge will help … [provide] the best product with the best service." Michael Ferrara, HairUWear's chief marketing officer, recommends offering ongoing demonstrations. "See- ing is believing. It's really as simple as that," Ferrara says. "Just as before and after images tell the whole story of how wigs and extensions can be absolutely transformative, clients are amazed to see for them- selves how natural-looking, realistic and believable our products are up close and in everyday situations. Ask each staff member to wear a different style to show variety. And show how easy it is to put on the piece … and how easy it is to remove the piece." Ferrara adds that stores should have sample pieces (that are maintained via brushing and conditioning) out of the box for customers to touch, along with color swatches, a mirror and staff nearby to answer ques- tions and encourage customers to try the products. Putting on special events will also draw in more business. "Partner with a cosmetics brand to host a makeover event. Tie your event to a holiday or theme. (Think bridal season, prom season, summer ponytails, back to school and New Year's Eve.) Have a special incentive day to reward staff sales," Ferrara says. And, as always, educate your staff. After all, there is a multitude of brands, styles, colors and applications to choose from, so be sure that your staff is educated in the nuances of each. Here you'll find a host of brands that provide you with phenomenal styles to consider for your store. —Manyesha Batist