Spending for Anti Aging Products Remains Strong During Tough Economy

42-15530293In the midst of job-cut anxiety a nervous consumer market, and hundreds of businesses closing their doors, many consumers are still forking over the cash to look good.

Recent market research trend reports point out that many people are turning to affordable anti-aging treatments such as Botox, injectable fillers and over-the-counter anti-aging products in hopes of giving their looks, and their careers, a boost. Job seekers are paying attention to how they look so they can land a job with a more youthful appearance, and as the job marketplace becomes more competitive, more people are heading to the drug store or beauty counter to make the best of their looks.

Companies including Proctor & Gamble and Estee Lauder have been spearheading the supply for the ongoing demand for anti-aging products.  According to Mintel, a consumer market research company, the anti-aging market looks promising for beauty product manufacturers, even during these tough economic times. In 2008, nearly 32 percent of all facial skincare launches were for anti-aging products, and the recent release of in-demand product lines such as the Oil of Olay Pro-X by Proctor & Gamble, is fueling the demand for ‘prestige’, high-end products at the drugstore.

Innovative ingredients such as peptides, pure forms of vitamins and minerals, and compounds that mimic ingredients such as Retin-A are showing up in anti-aging treatments available without a prescription – and consumers are stocking up on them, even at a higher price point.

People simply aren’t willing to give up their beauty regimen during the recession, and companies are in the process of developing and releasing a number of premium skincare lines to accommodate for this ongoing demand. Growth rates for sales of these products are expected to remain strong for the rest of the year.

Further Reading

  • Reducing the signs of aging with facial treatments such as microdermabrasion and dermal fillers can provide temporary results, but innovative procedures such as Fraxel C02 Laser Treatment show more promise for those who want to get rid of fine lines and wrinkles for the long-term.

  • Heading into college has students heading into the cosmetic surgery clinics to undergo non-surgical aesthetic procedures. Some procedures include chemical peels, body sculpting, nose jobs, fillers, and hair reductions.

  • While the old adage “beauty is skin deep” still rings true, the beauty and fashion business continues to thrive and many women go to extreme measures just to achieve their ideal figure. Plastic surgery is a multi-billion dollar industry – Americans spent $10.4 billion on cosmetic surgery in 2011 alone and the numbers continue to rise. A new documentary featured on HBO, “About Face: Supermodels Then & Now” exposes the dark side of the fashion business and provides some insight on our culture’s obsession with beauty and plastic surgery.