In mid-2021 hot tub companies were king. Unprecedented demand through covid pushed up sales as people stayed at home. Some of Europe's well known suppliers boasted up to a 400% increase in sales compared to 2019. Companies simply could not get a hold on enough stock. In China on/off lockdowns caused a part shortage. Waiting lists across Europe went as far as six months. Some of the world's biggest tub producers made record profits.
Then in early 2022 an industry went from its heyday to doomsday in a matter of months. The reason: The cost of electricity. Across Europe, some owners are draining their pools as the cost of living crisis bites. One in five hot tub owners say they now never use them, while a further third said they hardly ever use them, according to a new major survey.
Business Daily's Rick Kelsey speaks to Chris Hayes from BISHTA, the trade association for hot tub installers in the UK and Ireland, about the type of people who can now afford a tub. We travel to Valencia in Spain to hear how health spas are affording to heat their water. Sophie Clarke, who’s selling her tub on a European forum tells us how upset she is to see it go and we hear from international hot tub supplier Christina Mantoura Clarke on how her business survived when so many competitors went bust.
Presented and Produced by Rick Kelsey
(Image: A man and child in a hot tub. Credit: Getty)