Hot Tub & Spa Sales Growth Predicted To Continue

There is no denying that hot tub sales have cooled over the past two quarters in the US, Australia, and the U.K., yet the market remains solid according to analysts. The global market for hot tubs and spas crossed the $19 billion mark in 2022 and is expected to continue to grow to $23.5 billion by 2030 according to Business Market Insights. This is predicted despite increasing concerns about inflation and reports of curtailed spending by consumers.

The number of pool construction projects has certainly stabilized back down to pre-Covid 19 levels, though that correlation to the hot tub industry appears to be less of a factor. It’s an encouraging sign that there are still plenty of consumers looking to start a hot tub project in their backyard.

As the world begins to emerge from the COVID-19 pandemic, many industries have experienced fluctuations in supply and demand. The hot tub industry was certainly no exception. During the height of the pandemic, the demand for hot tubs skyrocketed as people sought to create their own private oasis at home. However, this increase in demand led to longer lead times for hot tub delivery, sometimes stretching several months or more.

What a Changing Retail Environment For The Hot Tub & Spa Sector Means for Consumers

As the pandemic winds down and hot tub dealers are stocked up, lead times are finally equalizing. This means that dealers are now able to keep up with the increased order flow, and it no longer takes 8 weeks or longer to receive inventory. This should come as welcome news for consumers who have been waiting to make their purchase and want to start enjoying their hot tub as soon as possible.

It is important to note that this equalization in lead times does not mean that dealers are sitting on inventory. In fact, most hot tub dealers have had trouble keeping up with demand due to supply chain disruptions and factory shutdowns during the pandemic. Instead, it means that dealers are now able to order and receive hot tubs from manufacturers more quickly, which in turn allows them to fulfill orders in a shorter timeframe.

This is a positive development for the hot tub industry as a whole. It means that consumers can now purchase hot tubs without worrying about long wait times or delays, and dealers can fulfill orders more quickly and efficiently. It also shows that the hot tub industry has adapted to the challenges of the pandemic and is now in a better position to meet the needs of consumers.

A Change in Consumer Habits

One thing the pandemic changed was the way consumers purchase. As people spent more time at home during quarantine, the demand for hot tubs and spas increased. However, many brick-and-mortar stores were closed or had limited hours, which led to a surge in online shopping. The by-product was an increase in online retail sales, one which has not tapered off according to retailers.

Spa retailer Andrew Ellis of Steam Shower Store discussed how plenty of consumers are still looking to bring home the spa experience. “We’ve been selling more spas and home saunas through our e-commerce platforms SteamShowerStore.co.uk and Vidalux.co.uk. This trend is not surprising as the benefits of hot tub ownership are numerous, including relaxation, improved sleep, and pain relief,” said Ellis, “consumers recognize the value and comfort of owning one, and that will remain a factor for growth.”

Low Cost of Hot Tub / Spa Ownership Makes Hot Tubs Appealing to Mid-Range Consumers

The average price of a swimming pool has gone up substantially in recent years. As swimming pools have become more expensive and consequently out of reach for some consumers, many have continued to look for more affordable alternatives that still offer the benefits of relaxation and recreation. One such alternative that remains within reach for mid-range consumers are hot tubs and spas.

Hot Tubs & Spas Have Become a Budget-Friendly Option For a Number of Reasons

Hot tubs and spas are typically much less expensive than swimming pools, making them an attractive option for consumers who want to enjoy the benefits of hydrotherapy without spending a fortune. They are also more compact and can be installed in smaller outdoor spaces or even indoors, making them a more feasible option for homeowners with limited space.

Another advantage of hot tubs is that they can be used year-round, while swimming pools are typically limited to use during the summer months in many parts of the world. This makes hot tubs a more versatile investment for those who want to use their outdoor space throughout the year.

Furthermore, advances in technology have made hot tubs more efficient and easier to maintain than ever before. Modern hot tubs can be equipped with energy-efficient features such as insulated covers and programmable timers that help to reduce energy costs. They also come with advanced filtration systems that make it easier to maintain clean and healthy water. In fact, over two-thirds of hot tub owners report that they perform their own maintenance (according to Pkdata).

Turnkey & Low Cost in Comparison to Pool Ownership

The turnkey aspect of hot tub ownership is also appealing to many consumers. Unlike a pool, which can take months to construct and can involve complex permits and zoning regulations, a hot tub can typically be installed and ready for use in a matter of days or weeks. This makes hot tubs and spas an attractive option for those who want to quickly and easily add a touch of luxury to their backyard. Overall, depsite changes in the economy, hot tub and spa ownership remain in high demand as consumers look for budget-friendly alternatives.