American Med Spa Association (AmSpa) has released new industry-wide statistics from its State of the Industry Report. The findings show that the med spa industry is growing rapidly in the U.S. with double-digit revenue gains reported since 2010.
According to the report, the med spa industry is set to grow an additional 8 percent by 2020 as more millennial clients seek non-invasive treatments. Compared to the baby boomer generation, the millennial generation isn’t seeking anti-aging treatments but preventative options. According to AmSpa, millennials account for about 20 percent of med spa patients. As for marketing to these millennial clients, Amspa recommends educating them on the offerings and reaching them through social media. “Today’s society is highly influenced by Hollywood, where looking younger has become the best way to feel younger,” says Alex Theirsh, CEO and founder of AmSpa. “Consumers are very focused on the many affordable and ingenious ways to retain that feeling of vitality and youth.”—NATALIE MANEVAL