Consumer pursuit of well-being intensifies

Circana, an advisor on the complexity of consumer behavior, has released a new report highlighting opportunities emerging from the growing global interest in well-being. 

The report, “Tapping Into the Global Consumer Well-Being Opportunity,” reveals the complexity of personal well-being, with consumers turning to solutions as varied as physical activity, social media, food, pet ownership, beauty and books, among many other products and services, to harmonize their physical, mental and social well-being. Circana’s global research identified more than 55 ways consumers pursue their well-being across various sectors.

“The definition of health and wellness is continuously evolving, with a growing emphasis on mental health,” said Sally Lyons Wyatt, global executive vice president and chief advisor at Circana.  “Beyond working to make sure wellness-focused products and services are accessible and affordable, successful businesses and services will identify their audience and connect with consumers in meaningful ways. Helping consumers become the best, healthiest versions of themselves is good for business.” 

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The report highlights several key findings:

• Embracing one’s body for optimal physical health: Consumers prioritize physical health through food choices, exercise and quality sleep, focusing on multifunctional products and clean ingredients. Digestive and oral health are important to consumers who have increased spending on vitamins, supplements and oral care devices. The demand for increased energy is driving growth in energy-related products. Similarly, from sipping to skincare, hydration is a primary, global wellness goal. But the pursuit of optimal health comes at a cost, with consumers reporting that high prices for healthy food and beverages are a significant challenge.
• Pursuing positive mental health for emotional well-being: The pandemic increased consumers’ awareness of mental health. Book sales on mental health and self-help have surged, and popular self-care activities focus on reducing stress and anxiety, improving sleep and boosting mood and motivation. Sleep aids, cleaning supplies and mood-enhancing items are increasingly popular among consumers looking to reduce stress and anxiety. Younger generations, in particular, are driving trends in stress-relief products and home scents.
• Seeking community and social engagement to make a difference: Social and community engagement is crucial for well-being, and in-person events, social media, co-exploration and participation in organized sports are on the rise. The arts, entertainment and recreation industries saw significant growth, with trends including increased participation in volunteer activities, social media-driven self-care practices, group activities like travel and dining and the rise of sports like pickleball.

To download the full report, click here.