$7b spend on beauty treatments
Estimates from IBISWorld business analysts have predicted Australia’s spend on hairdressing and beauty, gyms and fitness, plastic surgery, cosmetic procedures and lap-band surgery will jump 18.8% this year from the $5.88 billion spent in 2010–11.
IBISWorld general manager (Australia) Karen Dobie said more and more Australians were indulging in weekly facials, hair removal, personal training and regular cosmetic procedures to preserve their looks.
"Older Australians have greater financial security and freedom, so they can afford to splash out on a greater range of products and procedures," Ms Dobie said.
"In 2011, 62,000 Australians underwent surgical cosmetic procedures, while another 68,000 indulged in non-surgical procedures [and] these numbers have been growing significantly year on year."
By far, the biggest increase in vanity spending will be on non-invasive cosmetic procedures, where the total spent this year will