Consumers have had enough of obesity, junk food and stressed out lifestyles. Bain and Company has announced that consumers on a global basis want to aim for a lifestyle that will help them prevent health-related problems. This is a big shift from the healthcare mindset that has been accounting for an increasing share of national spending in most countries.
Consumers are realizing that economic advancement comes with expensive problems caused by obesity, sleep deprivation and stress. 90% of consumers from all economic levels claim they’d be happy to spend up to 5% of their annual income on products and services that will help them achieve their goals of maintaining good health.
The following constraints are currently contributing to unhealthy lifestyles according to surveyed consumers:
- High stress levels 81%
- Time limits 80%
- Difficulty in changing old habits 80%
- Difficulty sleeping 78%
- Financial 71%
Bain analysts also identified several ways that specific business sectors can position themselves for success as consumer thinking evolves on this topic.
- Consumer goods companies: Reducing the number of fabricated ingredients in food products can lead to broader acceptance of packaged goods. Personalized equipment can encourage more accountability for daily activity. This is currently happening with popular digital tracking devices.
- Insurance companies: After providing appropriate education, these enterprises can offer bonuses to physicians who manage patient care to achieve specific outcomes and to patients who meet specific goals such as quitting smoking.
- Tech companies: These enterprises will extend partnerships with healthcare providers and consumers to provide information and personalized monitoring and feedback on a number of medical conditions.
As we move through 2014, have you talked with your clients about ways to promote products and services to align with the larger consumer interest in healthful living?