![]() The survey also found that respondents seem to be taking a more holistic view of wellness, reframing it as much more of a consumer staple. It’s vital for the healthcare industry to continue to explore and partner with consumer-facing companies to improve access, experience and outcomes for people and their healthcare journeys.” Rich Birhanzel, a senior managing director at Accenture and head of its Health industry practice globally, said, “People’s desire to take more control of their health and well-being is only increasing. “With the health and wellness market expected to increase to more than $1 trillion in spend globally by 2025, consumer-facing companies must tap into cross-industry expertise and scientific and technological breakthroughs while also considering consumers’ changing priorities when designing new offerings.” “Despite hard times, it is clear that people have redefined health and well-being to be an essential good and plan to maintain or increase their spend in this area this year, regardless of income levels,” said Oliver Wright, a senior managing director at Accenture who leads its Consumer Goods & Services industry practice globally. Even though two-thirds (66%) of survey respondents said they feel squeezed financially, 80% also said they intend to maintain or increase their spend on areas related to health and fitness - such as exercise classes or vitamins and supplements - in the next year. The survey - of more than 11,000 consumers in 16 countries - found that even in the face of widespread uncertainty and personal financial strains, consumers are considering health and fitness to be an “essential,” alongside groceries and household cleaning products. ![]() 7, 2022 – Despite financial uncertainty, consumers are not willing to reduce the amount they spend on health and well-being, according to the latest in a series of consumer surveys that Accenture (NYSE: ACN) has been conducting to test the pulse of consumer outlook and sentiment since the start of the pandemic. ![]() ![]() Research highlights consumer-facing companies need to respond to redefined consumer priorities Consumers See Health and Well-being as “Essential” Spend Category, Accenture Survey Finds ![]()
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