Trend is up, yet half are dissatisfied with their current health results.
Global consultancy PA Consulting has surveyed 4,000 consumers in the UK and US, uncovering new trends in consumer attitudes to wellness and fitness. The survey: The Future of Wellness, reveals that consumer spending is on the rise, with four in five (78%) planning to buy new wellness and fitness products or services by late 2025. But despite this, half of consumers are dissatisfied with the results of their wellness and fitness. The report pinpoints the top areas that brands can target to address this – including providing more hyper-personalized, 'stackable' sports and wellness offerings.
Key findings from the survey include:
- Consumer spending on wellness and fitness is on the rise. Four in five consumers (78%) intend to buy new wellness and fitness products or services by late 2025. Nearly a third (27%) plan to spend more on health, fitness, and wellness in 2024 than last year, with the majority (71%) open to paying over $100 for sports and fitness tech.
- However, consumers aren't happy with their current health results. Despite the uptick in spending, consumers aren't satisfied with their results. Only half (50%) rate their physical health as 'good' – even though a considerable 85% take an interest in it and think about it on a daily basis. Similarly, less than half are satisfied with their current sleep quality and quantity (45%) and diet and nutrition (47%).
- Consumers crave hyper-personalized, stackable solutions. As a result, consumers want brands to help them build their own unique blend of "stackable" habits: products and services that are hyper-personalizable, merge data and integrate with their real-world, daily routines. An overwhelming 9 in 10 consumers would like a personalized wellness and fitness product or service – and the majority (57%) would share their personal fitness and health data with brands to attain this. Two-thirds want personalized vitamins and supplements (67%), a tailored nutrition plan (66%), or a tailored exercise plan based on their sleep quality and quantity (65%).
- Exercise equipment, health tracking apps, and sleep products among top interest areas. The top three subscriptions and services that consumers plan to invest in are health tracking apps, physical therapy, and healthy food and nutrition subscriptions. Meanwhile, at-home exercise equipment, sleep and relaxation products, and smart scales were voted the top products they would spend money on. Sleep was revealed as a growing opportunity area, with a notable 83% actively taking an interest in it.
- Inclusivity and affordability are a pain point. While consumers are willing to invest more in wellness, they still want products and services to be reasonably priced: 1 in 2 say wellness offerings should be more affordable. Nearly half think that the health, fitness, and well-being space could also be more inclusive for all ages (43%), and a third hold the same views for gender (34%) and accessibility needs (37%).
- Trust is lacking in some wellness tech. Users also remain uneasy about trusting certain wellness-related technology, particularly with more personal or intimate information. While most consumers are willing to share their data, a third reported having no trust in at least one type of sports or wellness tech product or service. Wearable tech / fitness trackers and health tracking apps had the highest trust levels, at 74% and 72% respectively. However, only half of consumers trust at-home fertility tests (51%) and wellness patches or biosensors (50%), which highlights a trust barrier to overcome for these solutions.
"The global wellness economy is booming across all sectors as people prioritize healthier choices, and consumer spending is on the up," said David Knies, wellness and innovation expert at PA Consulting. "However, we're seeing a clear disconnect between most people's desire for improvement, and their real-world experiences. Our research points to an opportunity for leaders in the wellness space to offer more 'stackable' products, services and experiences, which are better tailored to individuals' needs and integrate more seamlessly with their day-to-day lives. Brands that can offer more hyper-personalized solutions – whilst addressing consumer concerns around trust, inclusivity and affordability – will be best-placed to reap the long-term rewards."
