The Impact of Elections on the Aesthetic Market and Physician Practices

As we navigate through another election season, the ripple effects are becoming

increasingly evident across various sectors, including the aesthetic market and physician practices. Over the past two quarters, many industry insiders have noted a slowdown in sell-through in the B2B market, deviating from historical trends. Despite the resilience typically seen in the beauty sector, particularly among loyal physician consumers, it seems that the political climate is causing a pause for many with disposable income.

The Halo Effect of Elections

Conversations with industry veterans reveal a consensus: the constant discussion of economic struggles from both political parties is prompting consumers to reassess their spending. For those who regularly visit aesthetic practices, this can translate into hesitations about scheduling appointments or delaying purchases for a few more months.

In addition, an emerging trend has been the rise of alternative purchasing options, with platforms like Amazon and other direct-to-consumer (DTC) sites gaining traction. This shift poses a challenge for brands and practices that need to adapt to a changing consumer landscape.

Preparing for the Future: Strategies for Brands and Practices

To mitigate risk during this uncertain time, both brands and practices can take proactive steps. Here are some strategies to consider:

1. Conservative Forecasting: When planning for the year, be more cautious with growth models during the two quarters leading up to the election. This approach can help manage expectations and align resources accordingly.
   

2. Timing of Price Increases: If a price increase is necessary, consider implementing it at the end of the year. Lower volumes in practices during election seasons can make physicians reluctant to overspend on inventory.
   

3. Real-Time Inventory Discussions: Be prepared to engage in conversations about real-time inventory with practices. Having a solid plan in place can enhance collaboration and efficiency.
   

4. Sell-Through Guide: Develop a “Sell Through Guide” that outlines various tactics and strategies to help practices navigate slower periods. This guide can serve as a valuable resource for both brands and their partners.
   

5. Engage Non-Active Patients: Create programs targeting patients who haven’t visited the practice in over 12 months. Re-engagement strategies can boost appointment volumes and enhance loyalty.
   

6. Partnership Mindset: Emphasize the importance of collaboration. By positioning yourself as a business partner, you can foster a sense of shared success with practices.
   

7. Auto-Ship Options: Consider implementing auto-ship programs managed by sales representatives. Starting conservatively can help establish a reliable base of business.
   

8. Educational Initiatives: Host virtual seminars focused on social media and marketing strategies. Educating practices on effective online engagement can enhance their visibility and attract more clients.

   
   

Looking Ahead

Regardless of political preferences, there’s a collective hope that the election season will come to a close, allowing both consumers and businesses to regain their footing. By adopting these strategies, brands and practices can not only navigate the current challenges but also position themselves for long-term success in the aesthetic market. As the landscape continues to evolve, adaptability will be key in fostering resilience and ensuring sustained growth.