Cosmetic Surgery Spending on Rise, says LA Times
As many surgery practices begin offering specials, and baby boomers consider the possibility of looking better to enhance their prospects, consumer spending on cosmetic surgery could increase markedly – even in an uncertain economy, says a new Los Angeles Times article.
For cosmetic surgeons in Kentucky, Ohio and elsewhere, the economic situation has lead many surgeons to ‘switch gears’ in a way. Rancho Cucamonga, California cosmetic surgeon Dr. Jacob Haiavy explains it well:
“We used to give discounts on multiple procedures anyway, but we took it to the next level at the beginning of the year. It’s tough because 90% of what we do is elective. People have been more scrutinizing and resistant to spending money.”
Also from the LA Times: the international research group Freedonia has predicted an 8.5 percent growth rate in demand for cosmetic procedures throughout the next three years. According to Mark Berman, president of the American Academy of Cosmetic Surgery, a large part of the U.S. economy “moves with the baby boom,” so if boomers grow dissatisfied with their appearance, surgeons will see an increase in business – even in down economy.
When times are especially unpredictable, non-surgical enhancements like Botox, fillers, and chemical peels are very popular choices for “freshening up” your look, but they often can’t produce the more dramatic cosmetic change a patient may want or need.
When it comes to simple cosmetic enhancements, we know patients appreciate our specials. The most recent deals include Botox, laser hair removal, and medical facials. Although specials help us weather the sluggish market conditions, patients who want more done – perhaps liposuction, breast augmentation, or a facelift – may not wish to wait until economic conditions stabilize. Maybe they shouldn’t wait any longer, because you know the expression: we’re not getting any younger.