- The WELLSurvey™ identifies four distinct market segments within 88 million US households.
- Consumers view wellness as tangible activities and wellbeing as lifestyle benefits.
- The survey’s findings will be explored in-depth in Spa Business magazine’s next issue.
The WELLSurvey™ has revealed four untapped market segments within the wellness industry, representing 88 million US households. This study, authored by Kevin Kelly and Dr. Peter Yesawich, highlights that while consumers often confuse ‘wellness’ and ‘wellbeing,’ they perceive wellness as more tangible and measurable activities that promote healthy living, whereas wellbeing is associated with aspirational and emotional lifestyle benefits.
The survey’s findings indicate significant growth opportunities for wellness industry innovators, provided they can address the current market confusion over terminology.
New Insights into Untapped Wellness Market Segments
The study reveals that consumers often use the terms ‘wellness’ and ‘wellbeing’ interchangeably, reflecting the industry’s conflated use of these concepts. When defined separately, wellness is associated with tangible, health-boosting activities, while wellbeing pertains to abstract, lifestyle-related benefits. This distinction is crucial for industry professionals aiming to target these segments effectively.
Further analysis of the survey data identified four unique market segments, each with distinct wellness and wellbeing behaviors, interests, and lifestyle profiles. These segments present valuable opportunities for providers to develop tailored products, services, and experiences that align with consumers’ specific needs and preferences.
Looking ahead, the authors plan to expand the WELLSurvey™ to explore European attitudes towards wellness and wellbeing. This will provide a broader understanding of global consumer trends and open up new avenues for market growth. Spa Business magazine will offer an in-depth look at these findings in its next issue, providing exclusive insights for industry stakeholders.
The WELLSurvey™ has highlighted significant growth opportunities within the wellness industry by identifying distinct consumer segments and clarifying the nuanced perceptions of wellness and wellbeing. As the survey expands to Europe, industry innovators have a chance to capitalize on these insights and drive market evolution.
“These profiles represent key markets for providers to create new products, services, and experiences.” – Kevin Kelly, CEO of Civano Advisory Services
