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In the News

Demand for cosmetic treatments falls 40% in 2016

Geoff Riley

13th February 2017

Pin back your ears for this breaking news, but don't pay for the privilege. The number of people opting for cometic enhancements has dropped by 40% over the last year.

This Guardian article provides some of the background and seems happy to ascribe the drop in market demand to the growing influence of social media and the impact of TV programmes on botched botox and other procedures.

The British Association of Aesthetic Plastic Surgeons (BAAPS) said 30,750 procedures had been carried out in 2016 - down from 51,140.

Scratch beneath the surface and there is probably a simpler factor at work. Real incomes are falling and the expense of going under the knife must help explain why people are forgoing the chance to iron out a few wrinkles. Most cosmetic treatments are a discretionary spend and this is a time of great economic uncertainty.

It might take some time for the industry to enjoy a facelift.

More here in this video clip from the BBC

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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