“Beauty is in the eye of the beholder.”
We've heard it a thousand times over and perhaps we'll finally be able to show that beauty is more than just what we feel inside about ourselves. At least that is what our economy is telling us lately.
A generation ago there was the “Hemline Indicator” which could judge the health of our nation's economy by the length of the skirts women were wearing. The indicator showed that the shorter the skirt, the better the economy was going. We were introduced to the mini skirt during the Nifty Fifty era of the 1960's and the bull market of the 90's. The correlation was far from a coincidence, as prestigious publications and economic researchers clarified that when the economy is doing well, people will feel more confident. Society's morale will grow and women will tend to show a little more leg.
If you are still skeptical of the research of the Hemline Indicator, Smith Barney came out with the chart showing it's effect.
But what is showing more leg is not owning indicating our economy better, but actually driving particular industries? Of course the mini-skirt market at women's clothing stores may increase, but what about those assets of yours that clothing nor makeup can hide? Fortunately with today's technology altering what “your momma gave ya” is easier done than back in the 60's...
If we had a Joan Rivers indicator for our economy, we'd be swimming in the riches, as the infamous TV personality has been rumored to have 739 cosmetic surgeries. But Rivers is not an out-lier, she's the trend setter.
According to the annual report from the American Society of Plastic Surgeons, Americans received over 1.6 million cosmetic surgeries in 2011, the second year of increase after a big drop in 2009. “Consumer confidence was up [in 2011], auto sales rose 10%, so it is not surprising that we would also see increased demand for plastic surgery procedures,” ASPS's president Malcolm Z. Roth says. This is not a record amount of facelifts, nose jobs and other pricey surgeries, the peaked number is 2.1 million surgeries in 2005.
As for the non-surgical primping such as Botox, there were 12.2 million of those procedures done in 2011. Take a look at the numbers:
Facelifts (119,000)
Eyelid surgery (196,000)
Liposuction (205,000)
Nose reshaping (244,000)
...and the leading surgery in 2011 is our new, more accurate “Hemline Indicator” for the economy... Breast augmentation with 307,000 procedures being done last year.
Just as the Hemline Indicator showed confidence in the economy and the money to spend on fringe purchases, fixing up your breasts is clearly how we'll see what the economy's trend is.
Let's have the Reformed Broker, Josh Brown explain,
Hemlines have become irrelevant in a world where Lady Gaga performs in a leotard wearing no skirt at all. So our generation may need a new indicator of financial well-being and the national mood. In the service of this, I humbly submit The Boob Indicator.
Our love to look more attractive is a very accurate indication of the economy, even if no significant surgery is done to enhance personal beauty. Think carefully about the industry of cosmetics, clothing, and even alcohol.
Those three industries alone have been some of the rare few that are trending upwards faster than many others. The Beauty, Cosmetics & Fragrance market – according to IBISWorld – has had nearly a 2% annual growth since 2010 with over $13 billion in revenue. The clothing industry was hit fairly hard with the recession but retailers like Jos. A. Bank, men's formal wear, and several others have actually profited during the hard times.
It's clear that breasts are the new mini-skirts. But it's important to note that the bigger the breasts (God-given or artificial) does NOT mean the better the economy. The indication is within the attention. Companies like Victoria Secret are spending billions of dollars marketing to women looking to enhance their breasts with their new bras, infomercials advertise products and pills that will add more attention to women's assets, while retailers continue to lower the cut of the average female top. The Boob Indicator is just as accurate, if not more, than the Hemline of old.
Like anything in economics, if particular markets and industries have an annual growth, clearly the entire economy cannot be in the gutter. So to celebrate this Valentine's Day with the one you love, remember to show your appreciation for this growing economy and give some extra added attention to your woman's assets: they are the way to recovery.
And they say chivalry is dead!
*We must give a gentlemanly nod to our good friend Josh Brown, The Reformed Broker, for guiding us in the right direction for this research.
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