Most industries have experienced significant drops in their consumer demand due to the pandemic crisis. In the first quarter of the pandemic, the hair extension business was among the most affected by the reduced use of hair extension products. Demands have now shifted to at-home products. However, reports show that virgin hair extensions from companies like Harlem Hair Company have strongly bounced back. Plus they have adopted new ways of staying afloat. Some of the futuristic changes to be seen in this industry are many but first, let’s look at the hair extensions market.
An Overview of the Hair Extension Market
Hair extensions like weave hair are used to add volume and length to natural hair. They are clipped, sewn, or glued to one’s natural hair. Also, hair extensions are used as a cover-up for bad haircuts or to add hair color. The need and will to improve one’s appearance with a fresh hair look are some of the major factors fueling the growth of the hair industry. In the coming years, the income per head is expected to rise, meaning that consumers will have more to spend on their hair and beauty products. This will result in a subsequent increase in the overall returns for hair extensions business owners.
Hair Color Need
Colored hair extensions will be the new normal. The availability of different colored hair can help fuel the growth of different hair extensions and bundles. The demand for colored extensions is something to keep in mind when it comes to offering a variety of products. These new hair segments will make beauty even more fun than before as people will have the chance to try out different colors. This will also be driven by the fact that consumers can do these experiments at home without incurring the cost of salon visits.
Key Drivers and Trends
Consumers are also demanding new and stylish hair products. This demand opens new doors for manufacturers to launch their hair extension products as they extend their product line. Consumers also want hair products that will protect their extensions from humidity and frizz. These products are intended to keep them looking fresh and stylish even without a salon touch. This means manufacturers have to focus more on natural and organic products such as hair color, shampoo, and conditioners to meet customer needs.
In-store Experience over Online Shopping
There has been a 45% increase in mobile shopping, with more products now being sold online; entrepreneurs aim to improve your customers’ shopping experience. The target is to give the consumer an in-store shopping feel online. This can be attributed to the increased preferences for products sold online. So far this has shifted the focus of hair extensions and beauty product brands as they aim to meet these growing customer needs and preferences.
The future is still bright for hair extensions and other associated beauty products. The increase in demand allows the industry to stabilize again even with the closure of in-store shopping. Consumers can now explore different colored hair extensions, and they can even try out natural and organic products.
