As I have mentioned before, the most common question I am asked by the press, medical spa owners, physicians, medical spa staff and our clients is “how is the economic downturn impacting our industry”?
I have been in the recent past, and continue to be cautiously optimistic about the the impact of a recession on our industry. In Acara’s experience, specifically over the past few months, we have seen absolutely no negative impact at the locations that we support with our management and marketing services. Actually, we’ve seen the opposite, sales are up in the past few months over last year’s sales for the same period. (I hope it has something to do with our ability to provide expert advice). But, I also speak to locations that tell me their sales are down and they blame the economy.
How can sales be up in a recession? I hold to the fact that there is extensive market expansion occuring. Essentially it comes down to this: the same people are not buying more procedures; instead we have more people buying the same procedures. In addition, there are new procedures coming onto the market all the time and the consumer is hungry for better, stronger, longer.
Is your business down? Possibly you need to take a closer look at how you’re conducting business. There are many reasons why business can be down and the economy might be one of them (but not necessarily) especially with the market ever expanding.
Here are two recent articles that also speak of hope for our industry during this recession: Medical Spas Adapt to a Changing Economy and Non-Invasive Procedures Still Gaining Ground Despite Economy.
Another word of advice: Don’t let what’s happening on Wall Street seep into your business. It is critical to keep a positive outlook every single day for your team and your clients. We are not in the business of mortgages, securities, mergers or bailouts. We are in the business of providing high quality services that have tremendous positive impact on our client’s lives and thus ours.
You never know, Medical Spa Services may be this recession’s new “lipstick”.