Millennials & the MedSpa Industry

Millennials are big consumers of medical spa services. No longer are various cosmetic procedures the domain of the golden generation: The selfie generation has embraced them with vigor.

Millennials Embrace Medical Spa Services

Here are some statistics. According to the American Med Spa Association, the med spa industry is growing rapidly in the U.S. with double digit revenue gains reported since 2010, with an additional 8 percent growth anticipated by 2020 as more millennial clients seek non-invasive treatments. Botox treatments have grown as much as 41% for 19-34 year olds from 2011 and 2015. Even though more Americans are over age 65 than ever before, millennials currently account for 20 percent of med spa patients, and they’re entering their prime earning years.

The American Academy of Facial Plastic and Reconstructive Surgery says

“31 percent of men state they are “extremely likely” to consider either a surgical or non-surgical cosmetic procedure. Of this 31 percent, more than half were millennials between the ages of 25 and 34 years old. Another 34 percent were millennials between the ages of 18 and 24.”

Why Millennials Consume Medical Spa Services

Prevention:

Millennials have gotten the message that early intervention can help maintain youthful good looks. Both men and women in their 20s and 30s are seeking preventative measures and non-invasive treatments. Many treatments, such as Botox, now have a long and reliable track record.

Experiential Not Material:

The millennial generation is known for its emphasis on experience rather than material goods. They’d rather spend their income on looking good than on a new sports car.

Media And Celebrities:

Many celebrities are unabashed about their use of Botox, injectables and more. Groupon gathered these quotes:

Simon Cowell: “To me, Botox is no more unusual than toothpaste.”
Sharon Osbourne: “I think that Botox is one of the best things that’s ever been created for cosmetic surgery.”
Vanessa Williams: “I use [Botox] very sparingly. I want to look natural.”
Jennifer McCarthy: “I am team Botox! I do it here and there. I use very little, so my face still moves.”

Selfie Generation:

Millennials spend as much as one to two hours every day on social media sites, where they’re inundated with pop culture and celebrities, and encounter pressure to measure up to both peers and stars.

Also according to Groupon:

55% of selfies are taken by millennials(compared to 24% from Gen Xers and 9% from baby boomers). Millennials often spend an hour a week just on their selfies (between taking pictures, sharing and editing). The average millennial is expected to take over 25,000 selfies in a lifetime.

Millennials Embrace Technology:

Millennials have grown up with technology, which may reduce their aversion to cosmetic procedures, especially those that are less invasive or well proven. Technology is also creating increasingly customized options, such as DNA testing to identify the best treatments for an individual’s genetic fingerprint.

According to AmericanSpa.com:

23andMe recently partnered with the Procter and Gamble brand Olay to identify what factors help people look younger. Although the study found that certain lifestyle choices might be more significant than genes when it comes to achieving youthful-looking skin, the study illustrates the growing relevance of genetic testing when it comes to product formulations. “In this study, having skin that looks exceptionally young—ageless—was not down to luck; genetics plays some role, but factors within women’s control have larger effects,” says Frauke Neuser, Ph.D., principal scientist of Olay Skin Care. “Future genomics and genetics research might enable us to provide increasingly personalized services and product solutions for women around the world.” Olay introduced a number of reformulated products based on the results of the study. 

Many spas are now offering DNA testing and DNA compatible treatments.

Millennials: Med Spa Customers for Decades to Come

As the millennials’ interest in medical spa services converges with their growing spending power, Med Spa marketing can’t afford to ignore them. Think about it this way: These are potential customers whose loyalty could represent five decades of continued patronage. While medical spas don’t want to alienate their senior customers, they’re making a costly mistake if they market their services exclusively to the older demographic.

If you’re a medical spa, talk to us about giving your marketing efforts a facelift, and ensuring that you appeal to the millennial generation. With their youth, volume and earning power, they’re a market you want to make a meaningful connection with.

If your business could use help in reaching this generation? Contact us today for your FREE 15 minute consultation with a marketing expert to discuss ways you can specifically target the millennial market!