Los Angeles, October 15, 2024 /PRNewswire/ — A new national survey, WELLSurvey™, examined the evolving landscape of the U.S. health and wellness market. The survey results reflect the attitudes and aspirations of more than 88 million households, highlight the prevalence of healthier living behaviors, and reveal the nuanced interests of four distinctive market segments. It also revealed resilient consumers who are optimistic about the future and say their family is their greatest source of joy, but who are concerned about the direction of the country.
Civano Advisory Services releases The WELLSurvey™, which examines the evolving landscape of the U.S. health and wellness market.
The results of a new study provide compelling evidence of the cultural acceptance of health and wellness practices in American society. More than 60% of households regularly visit one or more spas, alternative medical practices, or healing therapies. As this movement grows, providers must align their products, services, and experiences with consumer awareness and interest in the concepts of “wellness” and “well-being.” We also need to structure communication differently to incorporate new adult attitudes, beliefs, and social values.
Key insights revealed by WELLSurvey include:
Market disruption:
Beyond health sciences, the health and wellness industry is rapidly growing. decentralized As a result, there was a lack of agreement on key standards, performance indicators, and terminology. This has created confusion in the market about the concepts of “wellness” and “well-being.” It also hampered providers’ efforts to make and demonstrate their respective benefits. Wellness and wellbeing:
With keyword-related tests of 18 possible descriptors, perceptions of health are objectively measured to improve healthy living, including REM sleep, HVR, heart rate, oxygen uptake, cholesterol, blood pressure, and mental acuity. It became clear that it was based on possible activities and functions. However, well-being is described in more subjective, aspirational and relational terms, including emotional health and spiritual components. It is also closely related to longevity. The main health-related descriptors are “physical fitness,” “energy,” and “vitality.” The descriptors primarily associated with happiness are “peace,” “fun,” and “spirituality.” Although both concepts share common elements, WELLSurvey data suggests that they appeal to individuals with different attitudinal, behavioral, and belief profiles. Market segmentation:
Cluster analysis of 84 attitudinal, behavioral, and belief statements revealed the existence of four distinctive market segments, each with its own profile. The key behavioral or demographic criteria for each are listed below. WELLFanatics – Adults who exercise for at least 7 hours each week (16M household). WELLSearchers – Adults who regularly use spas, alternative medical practices, or healing therapies (53M household). WELLTrackers – Adults who use wearables to track health metrics (27M household). WELLZoomers – Adults aged 25-34 (16M household). Younger people care more about wellbeing: Adults aged 25-34 are 30% more interested in spa and wellness products, 26% more likely to use health data technology, and say pleasure is a determining factor. Despite being 16% more likely to believe they are in good health, they are 46% more anxious than older adults. Key drivers of health and well-being:
Three important “drivers” of health and well-being are physical fitness, mental health, and emotional health. But “financial security” is an additional driver of health, and “spirituality” is an additional driver of happiness. These insights demonstrate that although adults have difficulty articulating the definitions of both wellness and well-being, they recognize the concepts as derived from different combinations of physical and psychological forces. This proves that. This is a very important revelation. WELLSurvey also found that more adults are more concerned about improving their well-being than their own health. Science and technology issues:
The majority of respondents (53%) look to evidence-based science to guide their lifestyle choices, and 31% use technology to track health and lifestyle data. Technology usage is on the rise, highest among WELLTrackers.
“While the health and wellness market is well established, product and service clarity remains uncertain. Navigating this evolving market and further integrating data, technology, and health science into experiential programs and services “This will require multiple skill sets, clear standards, and shared metrics to differentiate competitive products and services and drive price premiums.” kevin kellyCEO of Civano Advisory Services and co-author of the study. “Insights from WELLSurvey highlight the importance of understanding consumer behavior in a rapidly evolving market, as health and wellness providers adapt and innovate to meet new tastes and become increasingly crowded. We encourage you to establish yourself as a true leader in your field.”
“Significant economic opportunities will be created as consumers become more focused on pursuing healthier lifestyles, guided by the competitive value of comprehensive customer data,” the co-authors added. peter yesawichPhD, co-founder and former vice chairman of MMGY Global. “However, this opportunity is likely to benefit only those providers who evolve their products, services, and experiences to reflect the preferences of their unique market segments.”
methodology
A national probability survey of 1,002 U.S. adults ages 25 to 74 living in the top half of U.S. households as defined by annual income (>$75,000 in 2023). Fieldwork was conducted online in January and February 2024. The survey instrument included 84 attitudinal, behavioral, belief, and lifestyle variables. Respondent profile: Median age: 48.6 years. 52% female, 48% male. Median household income: $127,500. 69% were employed full-time and 19% were retired. 84% live in a single-family home and 68% live at home with children. 59% lived in suburban areas, 21% in urban areas, and 20% in rural/semi-rural areas. 66% White (non-Hispanic), 12% Hispanic, 10% Black, 6% Asian. 38% have a four-year college degree and 27% have a graduate degree.
For more information, please visit www.civanoliving.com.
author:
The co-authors of WELLSurvey are: kevin kellyCEO, Civano Advisory Services, (www.civanoadvisors.com), former President of Canyon Ranch and CEO of Sensei, and peter yesawichPh.D., co-founder and former vice chairman of travel and tourism marketing agency MMGY Global (www.mmgyglobal.com) and chairman of Hospitality Healthcare Partners (www.hospitablehealthcare.com).
Source Civano Advisory Services
I want company news Have you been featured on PRNEWSWIRE.COM?
Over 440,000
newsroom and
influencer
9k+
digital media
outlet
Over 270,000
journalist
opt-in
