National Survey Reveals New Insights into Evolving U.S. Health and Wellness Market, the Meaning of Wellbeing, and Emerging Lifestyle of Younger Consumers

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:

1. Market Confusion:
   Other than the health sciences, the health and wellness industry has grown in a decentralized manner resulting in a lack of consensus on essential standards, performance metrics, and terminology. This has led to market confusion about the concepts of "wellness" and "wellbeing." It has also obstructed providers' efforts to make or substantiate claims about the benefits of each. 
   
   
2. Wellness vs. Wellbeing:
   A key word association test of 18 possible descriptors revealed the perception of wellness is based on objective, measurable activities and functions that enhance healthier living, such as REM sleep, HVR, heart rate, oxygen intake, cholesterol, blood pressure, and mental acuity. Wellbeing, however, is described in more subjective, aspirational, relational terms that include emotional health and a spiritual component. It is also associated more closely with longevity. The descriptors associated primarily with wellness are "physical strength," "energy," and "vitality." The descriptors associated primarily with wellbeing are "peacefulness," "joyfulness," and "spirituality." Both concepts share common components, but WELLSurvey data suggest they appeal to individuals with different attitudinal, behavioral, and belief profiles.
   
   
3. Market Segmentation:
   Cluster analysis of 84 attitudinal, behavioral, and belief statements revealed the existence of four distinctive market segments, each with a unique profile. The key behavioral or demographic criterion for each is provided below:
   1. WELLFanatics – adults who exercise seven hours or more weekly (16M households).
   2. WELLSearchers – adults who use spa, alternative medical practices, or healing therapies on a regular basis (53M households).
   3. WELLTrackers – adults who use a wearable to track their health metrics (27M households).
   4. WELLZoomers – adults 25-34 years of age (16M households).
      
      
4. Younger Adults More Focused on Wellbeing: Adults between 25-34 years of age have a 30% higher interest in spa and wellness products, use health data technology 26% more often, are 16% more likely to believe "joy" is a defining element of their wellbeing, yet feel 46% more anxious than older adults.
   
   
5. Key Drivers of Wellness and Wellbeing:
   The three key "drivers" of both wellness and wellbeing are: physical strength, mental health, and emotional health. Yet, "financial security" is an additional driver of wellness, while "spirituality" in an additional driver of wellbeing. These insights confirm that even though adults have difficulty articulating definitions for both wellness and wellbeing, they perceive the concepts as derivatives of different combinations of physical and psychological forces. This is a very important revelation. The WELLSurvey also revealed there are more adults interested in enhancing their wellbeing than their wellness.
   
   
6. Science and Technology Matters:
   The majority of respondents (53%) look to evidence-based science to guide their lifestyle choices, and 31% use technology to track their health and lifestyle data. Technology usage, a growing trend, is highest among WELLTrackers,

"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

• National probability survey of 1,002 U.S. adults, 25 to 74 years of age, and reside in the top half of US households defined by annual income (>$75,000 in 2023).
• Field work conducted online during January and February of 2024.
• 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% employed full-time, 19% retired.
  • 84% live in a single-family home, 68% with children living at home.
  • 59% suburban, 21% urban and 20% rural/semi-rural residence.
  • 66% White (non-Hispanic), 12% Hispanic, 10% Black, 6% Asian.
  • 38% have four-year college degree, 27% have graduate degree.

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). 

SOURCE Civano Advisory Services