Business of beauty takes a hit as markets struggle with inflation

1. Business of beauty takes a hit as
markets struggle with inflation

2. Contd…
The economic slowdown has had an impact on cosmetic procedures
too. Hospitals say while young people with more disposable income are
still coming, there has been about a 30% decline in middle-aged
women opting for procedures like liposuction or face contouring. And
plastic surgeons fear if the slowdown continues, the business of beauty
might face a similar crisis as in the US, UK and many European
countries.“Our hospital data suggests there has been a reduction of
about 20% in cosmetic surgeries and procedures. Hair transplants have
gone down by 20%, liposuction 30% and medical treatment (lasers,
botox, fillers, chemical peels, for example) have reduced even further in
the last two years,“ said Dr Lokesh Kumar, director and HoD, plastic and
cosmetic surgery at BLK superspecialty hospital.

3. Contd…
At Max Institute of Aesthetic and Reconstructive Surgery, doctors said the
overall decline in cosmetic surgeries from 2014 to 2015 is not much but the
client profile has changed drastically .
“In 2014, we did 306 cosme tic surgeries compared to 299 cases this year--a
2% decrease. Minor procedures like botox, fillers and lasers, have, however,
gone up from 70 in 2014 to 93 in 2015,“ said Dr Sunil Choudhary , director,
aesthetic and reconstructive surgery , Max Healthcare.
He said the economic slowdown seems to have discouraged patients above
35 years of age; conversely , there seems to be a surge in demand from the
more aspirational younger patients below 35.
“Analysis of the young group opting for cosmetic surgery at our hospital has
revealed that a large percentage (45%), particularly young girls, fun ded their
own surgeries,“ Dr Choudhary added.

4. Contd…
Many cosmetologists who run their own clinics, not associated with any hospital,
claimed their business has not been affected by inflation or slowdown. “One
change which we have observed is that many clients want to go for cheaper
alternatives. For example, many clients prefer botox and fillers over radiofrequency
thermage for face contouring because it costs less. Also, many clinics are offering
special discounts to attract more customers,“ said Dr Madhulika Rustagi, a Delhi-
based cosmetologist.
Aadesh Mathur, director of Myovatec Surgicals Private Limited, which deals with
breast implants and liposuction machines and syringes among others, said their
business has reduced by more than 20% over the last few years.
“The cosmetic industry in ndia was just booming when he slowdown hit the
industry wo years ago. We are still go ng through a rough phase.The elites and the
professionals continue to opt for cosme ic surgeries and procedures but the
aspirational class is not really taking to the elective procedures because they have o
attend to other urgencies.We hope this will change soon,“ he said.

5. For details and bookings contact:-
Parveen Kumar Chadha… THINK TANK
(Founder and C.E.O of Saxbee Consultants & Other-Mother
marketingandcommunicationconsultants.com)
Email :-saxbeeconsultants@gmail.com
Mobile No. +91-9818308353
Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015