US consumers spend billions on wellness. What products do they say they still need?

Six new trends in wellness ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

TODAY'S NEWS. TOMORROW'S INSIGHTS. A daily newsletter from McKinsey & Company   Edited by Belinda Yu   Editor, Atlanta The thriving US wellness industry In the news • Skincare by celebs. When it comes to celebrities launching their own beauty and skincare lines, there's one group of people whose feelings aren't too pretty about it: beauty industry insiders who've spent decades building their careers. In recent years, actors, actresses, and former talk-show hosts have all sought to capture a slice of the US luxury skin care market, which generated $6.3 billion in sales in 2021. But although brands founded by famous people tend to instantly capture consumers' attention, only quality products will keep them coming back, said one beauty industry expert. [WaPo] • Learning to meditate. From reducing anxiety and depression to boosting concentration, meditation has a host of benefits. But it's often difficult to get started and can be especially frustrating for people who struggle to pay attention. Meditation experts offer tips that may help, starting with the advice that everyone gets distracted. Rather than assuming that you're doing something wrong each time your mind wanders, simply notice when you get sidetracked, begin again, and accept that you're only human, says one teacher. [NYT] The wellness market is growing quickly. Overall, around 50% of US consumers now report wellness as a top priority in their day-to-day lives. On McKinsey.com • A booming industry. The surging US wellness industry shows little sign of slowing. Spending on wellness products and services tops $450 billion in the US alone and is growing at more than 5% each year, find McKinsey senior partners Martin Lösch, Warren Teichner, and colleagues. Even so, many consumers still feel that what's available doesn't fully meet their needs. About 37% of consumers report wanting additional products and services in sleep and mindfulness, while almost a third of consumers say the same for health, nutrition, fitness, and appearance, according to a McKinsey survey of more than 2,000 US consumers. • Open to influence. Celebrities and social media influencers increasingly affect how brands are discovered. From 2020 to 2022, the share of consumers saying that celebrities are an important way for them to learn about new wellness products or brands grew from 38% to 62%, an increase of 24 percentage points, McKinsey research shows. Over the same period, the share of consumers looking to small-scale and large-scale influencers to find new brands increased 17 and 20 percentage points, respectively. See six surprising new trends in wellness in the US. Explore wellness trends Was this forwarded to you? Sign up here. Or send us feedback—we'd love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007