Yesterday I read an article in the Wall Street Journal depicting one more example of how the economy is impacting people’s lives. The focus was on cutting back on spending as it relates to domestic help, specifically Nannies.
The importance of this article to the Medspa industry is a very telling comment in the last few paragraphs of the article.
Here is the excerpt where this mother is discussing her former Nanny:
A stay-at-home mother whose husband is a litigation attorney, Mrs. Sirof says that Ms. Monterrosa was a “second mom to my kids.” Ms. Monterrosa was there when she suffered a bout of depression and when she went on spa trips or outings to get Botox and Juvéderm injections, says Mrs. Sirof.
But a few months ago, the family decided they couldn’t afford Ms. Monterrosa anymore and let her go.
Mrs. Sirof’s daughters took the separation badly. They inquired incessantly about “Vita,” as they called her. Normally a lively child, daughter Addie became sad and withdrawn. A doctor Mrs. Sirof consulted suggested renewed contact with Ms. Monterrosa.
“I try to have Alba come once a week,” says Mrs. Sirof. She says she feels “horrible” about laying off Ms. Monterrosa. But there are some perks she isn’t willing to give up. “Nothing deters me from my Botox treatments.”
As I have mentioned in previous posts, medical spa treatments, with their visible results, are the last on the list of expenses to be cut. There are many other sacrifices our clients will make prior to giving up the opportunity to look and feel younger.
FXA
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identifies a drop off in consumers purchasing cosmetic surgery but clearly points to the fact that consumers still remain bullish on minimally invasive procedures that are customary at most Medspas.
organize and coordinate their Medspa Marketing and Sales program once back at their spa or practice.
School of Management in Los Angeles and he recently wrote an article in the Wall Street Journal, “Get Rid of the Performance Review!”. After reading his article, I must say that I agree with him on how the standard annual performance review system that most companies used today is very flawed. My only wish is that he would actually provide a better solution or a more thought out solution to the problem.
