LOS ANGELES, Oct. 15, 2024 /PRNewswire/ -- A new national survey, The WELLSurvey™, examined the evolving landscape of the U.S. health and wellness market. The findings reflect the attitudes and aspirations of over 88 million households, underscore the prevalence of healthier living behaviors, and reveal the nuanced interests of four distinctive market segments. They also reveal a resilient consumer who is optimistic about the future and cites family as their greatest source of joy but concerned about the direction of the country.
The results of the new survey provide compelling evidence of cultural acceptance of health and wellness practices in American society: over 60% of households use one or more spa, alternative medical practices, or healing therapies on a regular basis. As this movement grows, providers must adapt their products, services, and experiences to align with consumers' perceptions of, and interest in, the concepts of "wellness" versus "wellbeing." They must also craft communications differently to engage adults' emerging attitudes, beliefs, and social values.
Key insights revealed in the WELLSurvey include:
"The health and wellness market is well established, but product and service clarity is still opaque. Navigating this evolving marketplace, further integrating data, technology, and health science into experiential programs and services, will require multiple skillsets, clear standards, and shared metrics to differentiate competitive products and services and drive price premiums," said Kevin Kelly, CEO of Civano Advisory Services, and co-author of the survey. "The insights from the WELLSurvey underscore the importance of understanding consumer behavior in a rapidly evolving market, urging health and wellness providers to adapt and innovate to meet emerging preferences and establish themselves as true leaders in an increasingly crowded field."
"Consumers' greater focus on the pursuit of healthier lifestyles, guided by the competitive value of comprehensive customer data, creates a significant economic opportunity," added co-author Peter Yesawich, Ph.D., co-founder and former Vice Chairman of MMGY Global. "Yet, this opportunity is likely to benefit only providers who evolve their products, services, and experiences to reflect the preferences of distinctive market segments."
Methodology
More information can be found at www.civanoliving.com.
Authors:
The WELLSurvey was co-authored by Kevin Kelly, Civano Advisory Services, CEO, (www.civanoadvisors.com), former president of Canyon Ranch and CEO of Sensei, and Peter Yesawich, Ph.D., co-founder and former Vice Chairman of travel and tourism marketing agency MMGY Global (www.mmgyglobal.com), and chairman of Hospitable Healthcare Partners (www.hospitablehealthcare.com).
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SOURCE Civano Advisory Services