As we've learned in recent years, anti-aging beauty products and treatments are big business -- an estimated $261.9 billion business, that is. It's hard to flip through a magazine without encountering an ad for a firming skin lotion. Twenty-year-olds are incorporating eye creams into their daily regimens.
Turns out people in metropolitan areas are particularly attuned to this kind of marketing. According to new findings from the NPD Group, New York and Los Angeles account for 24 percent of all anti-aging skincare sales in the U.S.
But while New York is the fastest-growing market for sales of these products -- clocking a 16 percent rise in 2013 -- Boston and Philadelphia are also increasingly tapped in to the trend, both growing 11 percent last year. Compare that to a 5 percent increase in the sector overall.
Miami, Washington, D.C., Houston, San Francisco and Chicago all posted single-digit growth. One market that's not taking as readily to the anti-aging gospel is Seattle, where sales of the products only grew 2 percent last year.
Not only are sales of anti-aging solutions growing overall, but we're are also increasingly willing to shell out more for our products. In 2013, the average price spent on these products grew 6 percent, but Miami takes the cake for spending the most on anti-aging products, with consumers putting down 15 percent more than the national average.
Eternal youth doesn't come cheap, but for now it looks like that's a price we're willing to pay.