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Forget the expensive car, the Gucci handbag, the annual overseas holiday and the 5 bedroom home with a pool. Well, at least push them aside for a moment while we tell you about the latest status symbol to hit the western world pavements.
Wellness, it is now apparent, has become a tool for gaining social status and edge amongst peers.
Professor Rohan Miller of University of Sydney Business School says when faced with decisions about how to spend their precious resources (time and money), consumers are now prioritising their well-balanced physical and mental health. "It's definitely being used as a status symbol," confirms Professor Rohan Miller. "People are investing in themselves as a product. As well as having the flash outfit, they want to have the flash body that goes with it.”
Other interesting statistics supporting the rise and rise of wellness as an industry are listed below. But first, check out our Top 25 Most Popular Health & Wellness Resources here and earn some new bragging rites today.
+ Health is front of mind for consumers (Nielsen Global Report)
In 2015, 50% of global respondents are trying to lose weight. Younger consumers are most willing to pay a premium for health benefits and attributes.
and that is just one of many fitness categories that is experiencing exponential growth. In 2013, fitness and wearable technology sales (think FitBit, Fuelband and Timex Sport) is up $10 billion to $81.4 billion in wholesale sales in the US as 3.3 million fitness bands and trackers were sold.
+ Weightloss, Mind and Body Exercise make up the second and third largest sectors of the Health and Wellness market
According to Statista 2013, the US Health & Wellness market space is dominated mostly by beauty and anti-aging product sales at $1,025 billion, followed by health eating, nutrition and weight loss sales ($574 billion) and fitness and mind + body exercise ($446 billion).
To find out what health and wellness resources are available to you in your area, head over to our Top 25 Most Popular Health & Wellness Resources in Sydney and earn some new bragging rites today.
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