The U.S. Bureau of Labor Statistics anticipates job growth for aestheticians to be 25% between 2010 and 2020, and globally, the market for aesthetic equipment is supposed to reach $6.5 billion by 2017. Although Statistics Canada doesn’t track the same data, it’s widely estimated that those numbers are similar here. The market’s appetite for beauty related products and services has attracted growing competition to meet the demand, and various factors seem to account for the expansion. Generally speaking, there is a greater importance placed on appearance, and it’s a pressure that’s experienced by men and women alike. The same goes for young and old.
Female Professionals Are Power Spenders
Because aesthetic services are a luxury item, they are the first to be cut from the household budget when times are lean. In lower income households, aesthetic procedures, even affordable one, aren’t often consumed, so the wealthier part of the economy is the largest consumer of medical spas. As female labour has increased, women are now empowered to make their own purchases without the joint decision of family members.
Older professionals are turning to non-invasive cosmetic procedures for personal and even professional assistance. Appearing tired or aged can be associated with poor performance and being out of touch with trends and developments. Subtle improvements, like dermal injectables, require very little time away from work and are immediately visible. As a professional in a competitive or high pressure work environment, being available to work can be crucial to workplace success. It may be no coincidence that Botox and its competitors are one of the most popular treatments offered by medical spas and clinics.
Youth Are Turning to Aesthetics for a Boost in Self-Esteem
Although young people rely on parents to fund their purchases, parents and teens are increasingly coming to agreement on the benefits of aesthetics. Acne treatments can be a considerable relief for young people struggling to fit in with peers, and parents can observe the improvements in self-esteem. As young people grow into adults, they will be comfortable turning to aesthetic treatments to resolve issues with appearances.
The Niche Male Clientele
It’s still a small portion of the pie, but the number of male clients are increasing. Social stigmas surrounding male appearance is changing, and men are more accepting of cosmetic procedures. Dermal fillers to improve the appearance of wrinkles is popular among men, especially since well-placed injectables naturally improve signs of aging.