In 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.