Luxury retail has been navigating one of its weakest stretches since the Great Recession, and a new Allergan Aesthetics report suggests consumers may be redirecting some of that discretionary spending elsewhere. More than half of consumers (53 percent) say they would cut back on luxury spending to afford aesthetic treatments, choosing Botox Cosmetic, fillers, lasers and personalized treatment plans over designer bags and vacations.
Ahead, key takeaways from the report and what providers say they reveal about the evolving role of aesthetics.
Treatments are seen as an investment
For providers, the finding is less surprising than it may seem. “I’ve seen a significant shift in how patients perceive aesthetic treatments and the role they play in their lives,” says Sacramento, CA nurse practitioner Shawna Chrisman. “Patients increasingly recognize the value these treatments can provide not only from a physical standpoint but also from an emotional, social and psychological perspective.”
She says her patients often say they feel more confident, more social and more aligned with how they feel inside when they invest in their appearance. “Consumers increasingly view aesthetic treatments as an investment in themselves rather than a traditional luxury purchase,” Chrisman says. “Many patients are willing to reallocate discretionary spending toward treatments that deliver lasting personal value and help them feel their best every day.”
Chicago facial plastic surgeon Steven Dayan, MD, sees the statistic as evidence of a deeper cultural shift, one he believes is only getting stronger. “What that 53 percent tells me is that aesthetics has quietly evolved from a discretionary luxury into a routine part of self-care,” he says. “Every week I see people of all backgrounds who no longer treat aesthetics as a secret or a taboo but as a necessary part of feeling like the best version of themselves.”
Aesthetics is just one part of a wellness strategy
The report, titled “The Aesthetics Evolution: What Consumers Really Want,” also highlights the growing intersection of aesthetics and women’s health. An overwhelming 99 percent of perimenopausal women surveyed reported at least one skin concern since entering perimenopause, with dryness, facial wrinkles and loss of firmness among the most common issues. That finding aligns with the rising focus on skin quality, collagen stimulation and longevity gaining traction in treatment rooms.
The report also notes a shift beyond spending habits. Of those surveyed, 62 percent of younger adult consumers say satisfaction with their appearance impacts their mental well-being, while 53 percent say the same about their physical well-being. Younger millennials and Gen Z aren’t trying to change how they look. Instead, they’re incorporating cosmetic treatments into their routines to feel more confident.
New York dermatologist Evan Rieder, MD, sees this generation reframing aging itself. “I think perspectives on aging are changing, because people are trying to embrace that, while the aging process is inevitable, they want to do things proactively to maximize their longevity and their functionality,” he says.
For women ages 36 to 50, dating or re-entering the dating world is also a big factor in seeking aesthetic treatments. Respondents said that events such as divorce or returning to dating apps often led them to aesthetic treatments as a way to rebuild confidence and embrace a new chapter.
Redefining luxury
For many consumers, aesthetic treatments are increasingly viewed less as a splurge and more as a regular part of self-care. “One of the most notable changes I’ve observed compared to five years ago is patients’ willingness to invest in comprehensive treatment plans rather than seeking a single procedure or a quick fix,” Chrisman says. “Today’s patients are more educated and have a greater understanding of what it takes to achieve meaningful, undetectable results.”
So maybe the bag can wait.
