How to Stop Worrying About Aging

Gone are the days when beauty treatments were considered recession-resistant. From skincare products to face-lifts, Americans are spending less on their looks.

In the recent past, cosmetic surgery and anti-aging skincare markets had grown by double digits each year. The emphasis on products and procedures, however, often eclipsed a more balanced approach to aging and appearance that includes long-term goals like protecting the skin and staying healthy. But the recession might be just the catalyst consumers need to change their point of view.

The markets for anti-aging skincare and cosmetic medicine are both contracting. The former, a $1.6 billion industry, is forecasted to shrink 0.7 percent in 2009, according to research company Mintel. And the $10 billion cosmetic surgery market has seen a 9% decline in 2008, according to the American Society of Plastic Surgeons.

"People are starting to be more careful about where they spend their dollars," says Leslie Baumann, M.D., a dermatology professor and director of the University of Miami's Cosmetic Center. "They want things that really work."

In Pictures: How to Stop Worrying About Aging

Trading down

Kat Fay, a senior beauty analyst at Mintel, also sees a shift in consumption patterns. In terms of skincare, consumers are trading down from pricey department store products to more affordable drug-store items. Fay expects some shoppers will stick with this tactic even when the country emerges from the recession.

"Because these are emotional purchases, it boils down to how they feel about it when they have it on their skin," says Fay. "If it feels the same, they're probably not going to run back and buy the $200 version."

Similarly, Baumann has noticed that her patients in addition to choosing less expensive fillers and wrinkle-smoothing treatments instead of expensive surgeries--are asking more questions about how the results of a procedure or treatment compare to the cost.