Plastic surgery had been a growing market. But even the cosmetic-procedure industry isn’t immune to the economic downturn, according to a new report by Diane Suchetka.
Karen Hunter knows the economy’s in trouble, that she ought to be thinking about saving not spending, that if she is going to part with her cash it ought to be for a new car — she’s been driving hers for 20 years.
She also knows this:
Next month, she’ll shell out thousands of dollars for an eye job and a mini face-lift.
“I prefer not buying a new car and doing this,” says the 61-year-old retired thoroughbred horse owner and breeder.
“I still wear a size 8. I’m in really good shape. I’d rather spend the money on myself.”
She’s bucking a trend and surgeons are becoming increasingly worried.
Thanks to the economy, people aren’t scheduling nearly as many nose-jobs as they used to.
Sixty-two percent of the members of a cosmetic surgeon society saw cosmetic surgical procedures drop in the first half of 2008 compared with the first six months of 2007, according to survey results the group released today.
The two procedures most doctors are doing less of? Liposuction and breast enlargement.
That’s a big drop in a big business.
People are not only concerned about the money but also the time off work following an invasive procedure.
“More and more people are concerned about taking time off from a job that might not be as stable as it was.”
Dr. Bahman Guyuron, chairman of the Department of Plastic Surgery at
University Hospitals Case Medical Centre, says,
“We are seeing a little bit more cancellation and postponement of the surgeries,” Guyuron says.
But a lot of his patients fall into one of two categories. They’re either wealthy and not worried about the economy. Or they’ve been planning — and saving — for their surgery for a long time and they’re not about to give it up.
“And they have their funds in cash,” Guyuron says, “so it has not really changed or reduced in value with the fluctuations in the stock market.”
Other patients aren’t forgetting about beauty altogether.
Some are postponing cosmetic procedures until the economy recovers, says Dr. Michael Wojtanowski, Hunter’s doctor and a head of plastic surgery.
And many are opting for less-expensive and less-invasive procedures: wrinkle reducers like Botox and fillers like Juvederm or Restylane.
Patients feel that they can get similar results without the problems of cost and time off work.
“We’re still very, very busy,” says Lydia Parker, a dermatologist
“Our Botox, our Restylane, our Juvederm are as busy or busier than ever.”
Something Jackie Glen, Director of Dermal Clinic (www.dermalclinic.co.uk) has noticed: a lot of people take comfort in making themselves look good when times are tough.
“With all the negative things in the press, I think people need a little bit of a boost,” she says. “Vanity is not really the issue here.
“These things that we do are image enhancers, they’re self-confidence boosters. These are the baby steps to help people feel good. They say, ‘At least I can get my Botox.’ “
