Aesthetic facial bars and med spas are popping up everywhere in the United States—from trendy neighborhoods to metropolitan and suburban alike. Even after a year of continued inflation and economic uncertainty, the U.S. professional skin care market continues to be dynamic, increasing at a rate of almost 11% in 2022, according to Kline’s Professional Skin Care Global Series report.
Many of the new multi-site skin care destinations have captured a slice of the market using their unique business model that is attractive to new and young Gen-Z consumers. Here are three that stand out:
- Glowbar’s first location opened in Tribeca in 2019 and has since grown to six locations between NYC and Connecticut, with plans to double this number by end of 2023. Its business model is built around making facial treatments more accessible to those with strict schedules and tight budgets.
- Peachy Studio is another skin care destination that has taken a unique approach to marketing itself. Opening its first location in West SoHo in NYC in 2020, the chain has expanded to a total of six locations in NYC. Peachy Studio specializes in services that treat the look of fine lines and wrinkles, and it is the first of its kind to offer a fixed-pricing approach to Botox. Like Glowbar, this model is affordable and convenient and leaves behind the post-visit sticker shock.
- Similarly, Face Foundrié has marketed itself to a young demographic of consumers. The franchise model opened its first location in Edina, Minnesota, in 2019 and has since grown to 23 locations nationwide, with expansion plans in 2023. Its monthly membership program includes one custom facial, along with other perks and product discounts. The chain also advertises Face Parties, where Face Foundrié can provide facials in a group setting for a bachelorette party, girls’ day, birthday party, etc., many of which are big life events celebrated by consumers in their 20s and 30s.
There are a few other notable facial bars and med spas that are implementing a similar model, including Heyday, Skin Laundry, and Ever/Body. The outlets are quickly gaining popularity, attracting a large influx of investment dollars and thus pressure to expand their locations nationwide. In late 2022, Heyday had raised over $12 million, and Glowbar raised $10 million in early 2023.
Kline is currently tracking the evolution and role of these outlets in the professional skin care market through its new Multi-Site Skin Care and Wellness Destinations: U.S. Assessment report, scheduled for publication this summer. The report will feature data and insights on key products and treatments offered at each of the outlets mentioned above, among the 25 that are covered in total. It will also spotlight opportunities for professional skin care brands to expand their distribution by partnering with new outlet types.