Quick Fixes During Economic Crunch
While a shaky economy has consumers thinking twice about spending, they aren’t willing to sacrifice looking their best. And for some, that means putting off surgery or major procedures and focusing on the smaller, more budget friendly procedures like Botox, fat or collagen injections or skin resurfacing.
It’s true that spending on more expensive cosmetic procedures like tummy tucks and facelifts, is down. In fact, overall, spending on cosmetic procedures in the U.S. is down about 9% annually.
But the U.S. market is steady right now at about $9 billion, in part because spending on other cosmetic procedures is actually increasing.
For example, Botox injection sales rose 8% between 2007 and 2008. Other procedures that have seen an increase are laser treatments for spider veins in legs, skin resurfacing, and wrinkle filler injections.
Reportedly, some consumers see these less invasive, more affordable procedure as a quick fix until the economy picks up and they can invest in more permanent solutions.