Relationship between Total Expenditure on Cosmetic Procedures in the United States and NASDAQ 100 Index

Abstract

Background: The volume of cosmetic procedures and expenditures has increased over the past 15 years. Recent studies have shown that the market for cosmetic procedures follows the standard laws of economics. However, no studies published in the literature have found a direct correlation between US stock market indices and expenditures on cosmetic surgery and minimally invasive procedures. Methods: The authors analyzed annual cosmetic procedure statistics from the American Society of Plastic Surgeons for 2005–2020 against economic indices, including major US stock market indices [NASDAQ 100, S&P 500, Dow Jones Industrial Average (DJIA), Russell 2000 indices from the New York Stock Exchange, gross domestic product (GDP)], median income of US citizens, and the US population from the Federal Reserve Bank of St. Louis. Pearson correlation coefficient and multiple regression analysis were used for the statistical analysis. Results: Total expenditure on cosmetic surgery and minimally invasive procedures (TECP) has more than doubled since 2005 to 2020. TECP revealed statistically significant correlations with all other indicators. TECP had the greatest correlation with DJIA (r = 0.952, P < 0.001). In the multiple regression analysis, the increase in TECP led to the rise of the NASDAQ 100 index (adjusted R2 was 0.790, P < 0.001). Conclusions: There was a statistically significant correlation between the TECP in USA and the major indices of the US stock market. In particular, the increase in TECP led to the rise of the NASDAQ 100 index.

A 16-Year Analysis of Aesthetic Surgery Volume and Its Association With US Economic Performance

“…The correlation between plastic surgery demand and the US economy may be better appreciated with graphical presentation with Figures 3 - 5 . Our study is not the first to associate financial indicators with the plastic surgery market, 15 , 16 but we are the only study to investigate the impacts of inflation and the COVID-19 pandemic. We have provided quantitative correlations of available plastic surgery data to economic performance indicators; however, it is vital to illustrate these trends in the context of specific economic cycles over the past 2 decades to understand how future economic events may impact aesthetic surgery demand.…”

Beyond Dollars and Scars: The Influence of Wealth Inequality on Total Expenditure on Cosmetic Procedures in the United States

“…This culminated in increased spending on cosmetic surgery and procedures. 6 This study embarks on a journey to unravel the potential correlation between these trends, positing that the escalating wealth inequality in US society could be a significant driving force behind the expansion in spending on cosmetic procedures.…”

“…In previous research, it was hypothesized that the escalating wealth inequality in US society, combined with the public’s propensity to emulate the wealthy, led to increased investment in the US stock market, which, in turn, triggered a swift rise in asset values. This culminated in increased spending on cosmetic surgery and procedures 6 …”