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August 02nd, 2006

Mintel Reports Home Nail Care Shrinking as Salons Grab ClientsChicago (August 2, 2006)- Nails have never looked so good with trips to the salon increasing. But this move has been distressing news for the nail polish remover and fire engine red polish sitting at home. According to a recent report by Mintel, professional nail service sales reached $6.3 billion last year, up nearly $1 billion dollars from 2003. Feeling the negative effects of this growth are food, drug and mass merchandisers, as well as prestige retailers. Sales of nail color and care products at food, drug and mass merchandisers dropped by more than $20 million in the same period.As of 2004, the U.S. was home to more than 54,000 nail salons. According to Mintel, this number is only expected to increase. This strong growth has driven fierce competition and price cuts among salons. At certain salons, manicures can be found for as low as $10. Compare these prices to a bottle of ” professional look ” nail polish retailing for $6, and the difficulties of nail care merchandisers become obvious.