The data: “Wellness consumers”—those who exercise weekly and prioritize health in their food choices—skew older, more educated, and more affluent than the average American, according to a May Morning Consult survey of more than 8,300 US adults.
Why it matters: Consumers who are spending more on health and wellness are investing across a range of categories, including healthy nutrition (50%), beauty and longevity (26%), fitness memberships (21%), and health wearable trackers (19%), according to a January CivicScience survey.
While some people are spending more on wellness, many wellness products and services remain premium-priced, which could make them difficult for other consumers to justify.
Implications for health and wellness brands: Some players in this space more aggressively target affluent consumers, positioning wellness as a luxury (e.g., Life Time launching its “luxury era of wellness” last year). But that approach could backfire over time, as even higher-income consumers aren’t immune to financial pressure and may eventually face the same tradeoffs as everyone else.
Pricing strategies to attract customers deterred by high upfront costs could include buy now, pay later (BNPL) options for premium offerings—which are increasingly popular among younger consumers—as well as discounted introductory memberships and more flexible commitment plans.
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