Bespoke’s Consumer Pulse Report is an analysis of a huge consumer survey that we run each month. Our goal with this survey is to track trends across the economic and financial landscape in the US. Using the results from our proprietary monthly survey, we dissect and analyze all of the data and publish the Consumer Pulse Report, which we sell access to on a subscription basis. To see what the report is all about, sign up for a 30-day free trial to our Bespoke Consumer Pulse subscription service. With a trial, you’ll get coverage of consumer electronics, social media, streaming media, retail, autos, and much more. The report also has numerous proprietary US economic data points that are extremely timely and useful for investors.
One question we ask respondents each month is whether or not they have had any of a number of various necessary or elective medical procedures. In terms of elective procedures, because the costs associated with these are less likely to be covered by insurance, consumers are less likely to have them done when their finances are tight. Conversely, they’re more likely to ‘splurge’ when they have a positive view of their personal finances. In the case of Cosmetic or Plastic surgery procedures, our latest Consumer Pulse Report saw a new high in the number of respondents who have recently “had work done” at 3.26%.
As shown in the chart below, early on in the history of our survey from late 2014 through early 2016, the percentage of consumers who had recently had a cosmetic surgery procedure was in a range of 1.0% to 1.5%. In early 2016, that percentage started to trend higher and surged to 2.5% in late 2016 right after the election. For the next year, the percentage moved within a (higher) range between 2.0% and 2.5%. Then, earlier this year it broke out above 3%, hitting a record of 3.25% in March and then another new marginal high of 3.26% in May.