Wishing for Wellness…and Willing to Spend

Happy Fall, y’all!

In my mind, Fall is a great time to renew commitment to our priorities, higher focus and productivity, and to generally Get a Grip on what tends to go by the weigh-side (see what I did there?) over the summer.

So, I thought it fitting, as we approach October, to dig in to what’s happening in my favorite world: the World of Wellness.

Rather than my typical product rating, this edition offers the gift of a Bonus Sized Summary of 3 ongoing macro trends and 7 growth areas that McKinsey and I see as the forces shaping this BaJillion dollar industry. (So glad those dummies at McK are starting to listen to me!)? here’s the full white paper from which I’ve sourced some stats. Link to full white paper here

A tidbit to set the tone: it seems we’re as cheerfully superficial as ever! ?

Ok, that’s a bit unfair. While the pandemic ensured we internalize the importance of self-care and Inside Out wellness…SHOCKER: we still prioritize the Out! ?Appearance-focused products (cosmetics, skincare, aesthetic procedures), are still the top category of wellness spending, led by Millennials! But this (not- THAT-much-younger-than-me) set redeem themselves by being ALMOST as obsessed with the Inside stuff we address with prescriptions, OTC meds, supplements, etc. Basically, youngsters spend boatloads on being well.

3 Enduring H&W Trends- the latest incarnations

Playing Doctor At Home

Post -pandemic, we’re still big on at home diagnostics.~25% US consumers are interested in at home kits to test for vitamin/mineral deficiencies, cold/ flu symptoms, and cholesterol levels. Why? Why not? It’s way more convenient than a doctor’s appt, with faster results, and we can test as often as our hypochondriac hearts desire.

No surprise, cost is still the biggest barrier to broader adoption. McK advises creators of these tools to add value through feedback loops that allow consumers to see the impact of the recommended treatments based on test results, aided by AI-generated /personalized analysis.

Fitness Bling: Biomonitoring & Wearables

~50% of surveyed consumers have bought a fitness wearable at some point, and 75% are open to wearing one in the future. While our watches and Oura rings are great for tracking activity and sleep, there are fewer solutions for nutrition, weight management, and mindfulness. Brands can fill those gaps by enabling personalized action steps—i.e. the device could link directly to a targeted fitness program, meditation app, or nutritional regimen based on the data collected.

Clinical & Professional is In, Clean (& Less Credible) is Out

The pendulum shift from clean to clinically proven ingredients continues, with half of US consumers citing clinical effectiveness as a top purchase driver vs. 20% for natural/clean ingredients, especially for OTC and supplements. You can hear the Gulps from the looooong list of indie skincare brands that rode the clean beauty boom—What to Do?!

Some will likely pivot with product reformulations, others can boost their scientific/empirical cred with third-party studies, certifications, clinical testing, or professional endorsements to substantiate their claims, retain their consumer base, or reach more consumers.

But not all recos are equal: as influencer marketing has matured, suspicion of “healthwashing” means there are varied degrees of credibility for “recommenders.” Doctors still hold weight, particularly in addressing sleep, and overall health needs. The key is to match the messenger to the message. I’d trust a trainer for my fitness regimen, but perhaps these muscle men are not the best source for mindfulness mantras. ?

Ok, that was the warmup, now let’s dive deeper.

7 Fast Growing Wellness Trends

1. Women’s Health- No longer Ignored, still Underserved

Truly my favorite trend. Under this wide umbrella, Menopause and Pregnancy related products top the past year’s spending list, while the most people purchase menstrual and sexual health products. But the unmet demand persists, especially in Menopause: only 5% of FemTech start-ups address menopause needs. Clearly we have work to do, and I know some amazing new brands getting right on that!

2. Healthy Aging for All

It’s official: we all want to live forever. With the shift to preventive care, the growth of telemedicine & digital health monitoring, and advances in antiaging research, 70% US consumers spent more on products for Longevity in the past year. And it’s not just old folk trying to stop the clock—younger gens are working the hardest to ward off signs of aging before they really kick in.

3. Weight Management is Evergreen

A top concern for as long as I’ve been in this biz (a while), ~30% adults still struggle with obesity, and 60% US consumers are currently trying to lose weight. Per McK’s survey, while exercise is the most reported intervention, over 50% US consumers now consider Rx meds, including GLP-1 drugs, to be “very effective” for weight loss. I’ll admit I get a bit squeamish about the potential for these drugs to be OVER-adopted. Uncharted territory ahead!

4. In-person Fitness: Back with a Vengeance

Even as many turn to GLP-1s, Fitness remains a priority: ~50% US gym-goers say it’s a core part of their identity. Gen Zs lead here: 56% rate fitness a very high priority vs 40% overall. ?Spending is expected to grow the most for in-person fitness classes and personal training.

But an ongoing challenge for fitness businesses is member retention and loyalty among a sea of boutique gyms and programs. Beyond the table stakes of modern facilities, convenient locations/hours, and referral programs, there’s room for gyms to bolster the value prop with more service offerings, like curated communities, nutrition coaching and retreats. For some, (likely depending how good the coffee and smoothies are) the gym has overtaken the “3rd Space (Place?)” slot that Starbucks established, especially for remote workers. But watchout--before you know it, there goes half your day!

5. Gut Health Good. Tummy Ache Bad.

I had a gut feeling (sorry) this would be a big one! 80%+ of US consumers place importance on gut health (which I trust no longer needs explanation), and many say it’s a higher future priority. Probiotic supplements are used most often, but there’s also growing adoption of probiotic-rich foods like kimchi, kombucha, or kefir. ?Still, about 30% consumers want MORE gut health options—saturation be darned! ?At-home microbiome testing and personalized nutrition plans for different gut needs can add value beyond product.

6. Sexual Health: Girls Just Wanna Have fun

The expanded cultural convo about sexuality, and specifically, female-specific challenges like low libido, vaginal dryness, and pain during sex, are driving growing demand. 87% US consumers have spent the same or more on sexual-health products vs the prior year, most often buying lubricants, contraceptives, and adult toys. Glad we’re having more fun—we deserve it!

7. Will you PLEASE let me Sleep?!

While it consistently ranks as the #2 health and wellness priority, sleep is also where consumers most often say their needs are unmet, and want MORE solutions…and throw in something for mindfulness, cognitive functioning, and stress management while you’re at it!

A challenge the sleep economy continues to face is the # of factors that can affect sleep: diet, exercise, caffeine, screen time, stress, and other lifestyle factors. ?Companies will be wise to seek better understanding of pain points to inform targeted solutions for inducing sleep, minimizing interruptions and improved sleep quality. Personalized data strikes again!

Hope you enjoyed this Wellness Roundup! If you did, here are a few things you can do for me.

1.????? Share a comment and your thoughts on the Health & Wellness practices or priorities you’re focused on this fall

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See you next month!

#wellness #insights #trends #brandstrategy?