Millennials Drive Ax Market Growth

Millennials and Gen Z Fuel Growth of Ax Industry

Generational aesthetics is the study of multiple age groups and their individual and collective impact on the medical aesthetic industry. Historically, the Baby Boomer generation helped to grow the medical aesthetics market. Based on broad, increased social acceptance of aesthetic procedures, we now see the full range of ages engaged in getting work done.

Baby Boomers, ranging in age from 58 to 76 years old, successfully countered older generations' notion that plastic surgery was taboo and to be kept secret. Generation X (42- to 57-year-olds) followed Baby Boomers and showed even more openness to procedures. Millennials (ages 26 to 41) and Generation Z (late teens to 25) consider aesthetic treatments as a routine part of a person’s health and self-care regimen. Social media and the Internet highly influenced these two younger generations. Generation Alpha are still young children and pre-teens. They might get treated for facial deformities and scarring but have yet entered the aesthetic marketplace.

Though Generation X and Baby Boomers remain a large market, Millennials and younger consumers now visit medspas, plastic and cosmetic surgery, and cosmetic dermatology practices and clinics in large numbers that displace older generations.

Each generation wants to maintain a youthful, natural look that expresses their interior self-worth and self-esteem. Currently, all generations are experiencing a heightened or renewed interest in getting treatments. This is partially because of the effects of COVID-19 in 2020, when government-mandated lockdowns kept millions of people indoors, communicating with family, friends, and co-workers using virtual tools like Zoom. This led to the ''Zoom Boom,'' in which they noticed flaws in their faces and other body areas. When people could finally go outdoors again and medical offices reopened following business shutdowns, aesthetic practices and medspas experienced a profound surge in business that continues well into 2022.

According to Carrie Caulkins, Vice-President of Marketing at Galderma (Fort Worth, Texas, U.S.), ''What is fascinating about the Zoom Boom and everything that happened in the pandemic is an understanding of the new environment we are fostering. Companies and providers in our industry want to create an environment where consumers can basically embrace aesthetic treatments without an apology. This new attitude is coming through organically in social media as well. Medical aesthetic procedures are becoming part of your basic skin health routine. This shift is taking aesthetics from being a luxury only for the wealthy to a kind of commodity that many can afford, like getting your hair done. Part of this change is because of a much greater influx of patients under 40.''

According to Bob Rhatigan, Global CEO of Merz Aesthetics (Raleigh, North Carolina, U.S.), ''We have seen a big bolus of new patients entering our space since the second half of 2020. A lot of them are naive patients, first time in the market. It's a unique situation for us. Fifteen years ago, it was pretty hard to find somebody under 45 that was getting a facial injectable procedure, for example. Nowadays, it's not uncommon to see patients in their low 30s and even 20s. The female patient still dominates the marketplace, with around 12%, maybe 15% males. The younger people are a new breed. They see aesthetics as part of a normal self-care wellness routine, and the more we as an industry can reinforce and encourage that perception, the better for everyone.''

Millennials and, to a lesser degree, Generation Z are remaking the U.S. economy. The result of their intense growth in buying power and influence is forcing aesthetic manufacturers and practices to examine how they do business and how to reach these key customers.

According to the CEO of a major aesthetic marketing company, ''Millennials are in their prime earning years or nearing those years. They have a genuine interest in our products and services and see us as part of their lifestyle. Millennials think about having a relationship with us that differs from previous generations. They are more vocal and open to different procedures. Older generations looked at themselves and thought, I am aging, and I have to fix something. The Millennial attitude is different, and that has also trickled down to Generation Z. They both see aesthetics as investing in themselves, as they would a natural weight loss program, or getting their nails done. Maintenance or prevention-oriented treatments are very attractive to them. They are far more curious about aesthetics than their predecessors. Because they are so connected to the online world, both Millennials and Gen Z learn as much as they can about procedures before setting foot in a medical office. However, patients across the spectrum are much savvier.''

Aesthetic practices and medspas must investigate and understand the needs of each age group, especially the younger cohorts. However, consumers young and old desire and often demand less invasive treatments and technologies. Surgery is more often avoided these days. Other drivers include technology improvements and better safety features of the many lower impact, energy-based applications of radiofrequency (RF), ultrasound, electromagnetic energy, shockwave, etc. Manufacturers and providers have successfully implemented marketing strategies that target, acquire, and keep patients in these demographics. Traditional media marketing, such as radio, print ads, and billboards, gave way to social media and ratings-based websites, Facebook, TikTok, Instagram, and related channels. Younger consumers love their smartphones and social media. They are most likely to take the advice of social media influencers when deciding what aesthetic procedures are right for them.

Different demographics want specific interventions and procedures. Both Millennials and Gen Z focus on facial aesthetics and non-surgical modalities, stated Sachin M. Shridharani, M.D., F.A.C.S., a plastic surgeon in New York City. ''They don't need a blepharoplasty or face-lift. They might want lip enhancement, thread lifts combined with fillers, a more defined jawline. Preventive BOTOX treatments are big for both age groups. There are extremes sometimes. Some come in and want too much filler in the lips or too much contouring on the mid-face. They look for enhancement and to boost their self-worth. Sometimes it seems more like status chasing.''

Now in the 30s to 40s, Millennials are showing their age. Neurotoxins, fillers, some light- and laser-based procedures, and breast enhancement or reduction are popular. Gen X females are doing mommy makeovers, tummy tucks, and liposuction. Body shaping treatments are also common. Older Gen Xers are opting for more restorative procedures that promise natural looking results. Baby Boomers are open to many procedures, including surgery, and often pursue a radical rejuvenation process. The younger age groups are more socially conscious and look for specific attributes of not only aesthetic products but the companies that manufacturer them. They want to support companies that have clean products and have a social cost.

''Gen X, Baby Boomers, and the Silent Generation are not as vocal about the work they get done, so they opt for treatments that are minimally invasive and gradual,''stated Randi Boyette, CEO of Spark Medical Marketing (Boca Raton, Florida, U.S.). ''Millennials and Gen Z are addicted to and influenced by social media, where your entire life has a platform, so they promote the work they had done to friends and to the world. Millennials and Gen Z also prefer a more dramatic result, such as bigger lips, a tighter jawline, smaller waist, and bigger butts and breasts. The older generations seem to prefer to enhance their existing features and look more natural.''

Generation X seeks personal, face-to-face interactions from the first consultation to the last treatment and expects the experience to be seamless from making the appointment to follow-up from the provider. They think of aesthetic treatments as a natural extension of their beauty regimen and maintenance, and seek a high-quality experience. ''They look for an authentic experience and quality, but they do get easily swayed,'' said Jim Hartman, President and COO, Hugel North America & Australasia (Newport Beach, California, U.S.). ''Generation X, people in their 40s and early 50s mostly, are conditioned to think that anti-aging treatments are what they are supposed to do. They are the first generation to believe that the wide swatch of aesthetics is okay. It's not for the select few; it's for everybody. In terms of aesthetic treatments and a desire for anti-aging therapies, Generation X has dutifully followed Baby Boomersv' footsteps and grew the market. Millennials are the first phase of what I call super-processor generations. They process data and input so much faster because they are the first generation that in their formative years had technology at their fingertips.''

Many Millennial and Gen Z patients enter an aesthetic practice armed with more information about procedures than any other generation does. Because of social media, people can get more of a behind-the-scenes look at what is happening in the doctor's office, so they are significantly more informed. That had a significant impact on how the aesthetics industry and manufacturers are marketing to those people.

''Through organic discussions online there comes a bigger understanding about prevention,'' added Ms. Caulkins. ''It's about what is motivating the individual to get the treatment. This applies to any generation, from the youngest to the oldest patient. People are unapologetic about how they want to feel. They all want to achieve a better version of themselves, whatever that may be. We focus on the older patient because they exhibit the most prominent signs of aging, such as volume loss or change in skin tone, and they get more treatments than younger people.''

Despite similarities among the generations, distinct differences surface when discussing attitudes toward medical aesthetics. The older consumer usually opts to visit the professional and go directly to a doctor to learn what is scientifically sound about aesthetic and anti-aging treatments. To many Baby Boomers, anti-aging as a concept seems foreign to them, at first. To the younger consumer, the anti-aging idea is not foreign to them. All the groups need the vote of confidence on the safety and efficacy factors from doctors, but social media and online resources more heavily influence younger people than Baby Boomers.

Though every generation uses social media and online tools to learn about aesthetic treatments and providers, Millennials and Generation Z will go through all the online comments looking for an authentic back-and-forth, so they can see where it is all leading. Is this voodoo medicine, or is this legitimate? Before they go to the doctor, they do that. They feel more informed. They've read all the feeds and read all the things that patients have said. When they enter a practice, they will ask the physician to give them the truth about what they read online. It's a different approach from what we saw in the past. Consumers used to go to the doctor and want the doctor to tell them the proper treatment. Baby Boomers and Gen Xers still do that, but the younger groups wish to control the process.

Unlike Baby Boomers and most in the Gen X category, Millennials and Generation Z are less impressed hearing from an authority figure or what a well-known dermatologist or plastic surgeon says just because of their title or position. Younger age groups want to hear more clearly from someone like them, engaging them or advising them on the procedures. They're not looking for the senior parental individual. They question that. Instead, they want someone like them to endorse that the plastic surgeon or dermatologist is telling you the truth. The confirmatory statement is what they need.

Non-digital or non-online sources are not interesting to younger consumers, said Mr. Hartman. ''It's less about traditional media and more about non-traditional media, which is digital. Mostly, Millennials absorb everything on the digital platform and there's very little that reaches them on the printed platform or TV. They follow what's online on social media, and again they are the first generation that really has embraced this.''

Among Millennials and Gen Z, social media influencers drive a lot of business to medical aesthetic practitioners. ''There is a real intimacy, a genuine connection between influencers and their followers, especially for the younger generations,'' stated Kim Lear, researcher and expert in generational dynamics and Founder of Inlay Insights (Minneapolis, Minnesota, U.S.). ''When you think about the power these quasi-experts have in the marketplace, it is no surprise how many manufacturers are using them to promote products. Also, there is the phenomenon of micro-influencers. They don't have millions of followers, but have a couple of hundred thousand followers who really trust them. It's very normal for young people to talk about getting BOTOX injections and other procedures. They are just fed more of that content in a really authentic and open way. All influencers tell their followers, this is what I do, and you can do it too. And it's through those relationships people feel so connected to these influencers. The power of that type of marketing is unprecedented. But how trustworthy are these influencers? It varies. One cannot underestimate the power of that close connection to these influencers, but question the quality of the information they feed consumers.''

Looking ahead, the sea changes in medical aesthetics will not pivot on the various generations as they grow older. While Generation Z and Millennials will fuel the future growth of our industry, succeeding age groups (e.g., Generation Alpha) will probably continue altering the aesthetic landscape. Future procedures and behaviors among patients and physicians will advance because of innovative technologies (artificial intelligence, robotics, etc.) and the reported integration of medical aesthetics into general medicine, and the developing concept of personal health and wellness and self-care.

''The idea of aesthetics being locked into the whole wellness revolution is so true,'' stated Ms. Lear. ''The wellness revolution that we’re seeing right now encompasses so many things — self-care, mental health, relationships and friendships, sex, nutrition, and nourishment. There are so many things being clumped into this wellness idea. Aesthetics and plastic surgery definitely fall into that category, especially because this mental health crisis we find ourselves in right now has a lot to do with self-esteem, self-perception, and motivation. We'll probably see more people turning to plastic surgery and aesthetic procedures to help them perceive and then boost their self-esteem and self-confidence.''

? 2022 Medical Insight, Inc.