Flourish Health & Wellbeing Magazine May 25 - Flipbook - Page 48
Regional Wellness
Spending Trends
AUSTRALIA
Despite cost-of-living pressures, young Australians
(Gen Z) spend an average of $117 monthly on
昀椀tness, more than any other genera琀椀on. There’s also
been a signi昀椀cant decline in alcohol consump琀椀on,
with the ‘sober-curious’ movement in昀氀uencing a
60% rise in non-alcoholic beverage sales.
NORTH AMERICA
Consumers are focusing on at-home health
solu琀椀ons. The demand for self-diagnos琀椀c kits and
telehealth services has skyrocketed, with 26%
of U.S. consumers interested in at-home vitamin
and mineral de昀椀ciency tests. Convenience and
accessibility are driving this shi昀琀.
ASIA-PACIFIC
Holding 33.45% of the global health and wellness
market, this region is the world leader in wellness
spending. Beauty, an琀椀-ageing, and skincare
innova琀椀ons account for 21.51% of total spending,
fuelled by rising urbanisa琀椀on and a preference for
scien琀椀昀椀cally-backed skincare.
EUROPE
Luxury wellness tourism is booming. Wealthy
consumers are inves琀椀ng in full-body MRI scans,
personalised longevity treatments, and biohacking
retreats, with some packages cos琀椀ng up to $40,000.
AFRICA
Preventa琀椀ve healthcare and tradi琀椀onal herbal
medicine are key spending areas, driven by the
need for accessible and a昀昀ordable health solu琀椀ons.
Community wellness ini琀椀a琀椀ves and mobile health
services are also gaining trac琀椀on.
SOUTH AMERICA
Countries like Brazil, Argen琀椀na, and Peru are
experiencing a rise in eco-wellness tourism, with
visitors seeking indigenous healing therapies,
thermal spas, and natural treatments.
How Has the Cost of
Living Crisis Impacted
Wellness Spending?
The rising cost of living is reshaping
wellness spending pa琀琀erns. A global
survey found that 63% of consumers
feel 昀椀nancial pressures are nega琀椀vely
a昀昀ec琀椀ng their health choices. Many are:
• Cu琀�ng back on luxury wellness
spending, such as premium
昀椀tness memberships and high-end
supplements.
• Priori琀椀sing essen琀椀al health
investments, including preventa琀椀ve
healthcare, stress management,
and a昀昀ordable 昀椀tness op琀椀ons like
walking, yoga, and home workouts.
• Seeking cost-e昀昀ec琀椀ve alterna琀椀ves,
such as discounted wellness apps
and budget-friendly nutri琀椀on plans.
Despite 昀椀nancial constraints,
wellness remains a non-nego琀椀able
for many consumers, who are
adjus琀椀ng their spending rather than
elimina琀椀ng it en琀椀rely.
