Ted Gibson

Ted Gibson

New York City's Ted Gibson, who offers the most expensive haircut in the country at $950, has taken note of the economy, and has launched his ‘Recessionista Tuesdays’ at his Fifth Avenue Salon — kicking off March 10th. Every Tuesday, anyone can come into the salon and the Ted Gibson team will offer haircuts, single color processing for $75 and blow-outs for $40.

Renowned hairstylist and salon owner Philip Pelusi said he, too, has seen the focus shift to more bang for the buck during the economic downturn.

Pelusi said clients are opting for money-saving tactics like extending time between visits, partial highlights or getting services on "training nights" for the salon, which can trim their bill up to 60 percent.

"We are doing everything we can to accommodate the clients," said Pelusi, whose Tela Design Studio in Manhattan has only seen a slight decrease in business.

— CNN contributed to this article