Affluent Americans Spent $200B on Wellness in 2022, Prioritizing Nutrition, Stress Reduction
High-income earners are willing to invest in their health, especially with products and services aimed at healthy eating and reducing stress
As the saying goes, health is wealth. But just how much of an impact does a large income have on wellness?
In the past year, affluent Americans spent over $200 billion on personal care and wellness products and services, according to new findings.
Ipsos Affluent Intelligence, which studies affluent consumers, has released new data combined from its Spring 2023 IAS Survey, which surveyed 23,902 respondents with a household income of $125K+, and its Q2 – 2023 Barometer study, which included 1,024 affluent respondents and 401 non-affluents.
Here are some of the report’s key findings:
Fitness & Wellness Are Top Priorities For Affluents
While high earners tend to have less physically demanding jobs, the data revealed that they view success as more than just financial, but physical, and are happy to spend money on gym memberships and personal trainers.
Affluent Americans have a higher participation and enthusiasm towards overall health and wellness, perhaps wanting to fully enjoy their robust lives on a deeper level and desire to maintain longevity.
Wellness spending seems to pay off, as almost two-thirds of affluent Americans report that they are very or extremely healthy when compared to only 40% of non-affluent Americans.
They also report that maintaining fitness is important to them, with 58% of affluent Americans considering themselves fit. Despite busy lives, 71% engage in exercise 3+ days a week, despite obligations such as work and family commitments.
Team sports and having fun during physical activity are also important to affluent survey respondents, with basketball reported as the most popular team sport to play.
Diet, Nutrition & Stress Are Key Drivers
Nutrition and diet are an important part of the recession-proof lifestyle, with high-income earners consistently seeking out additional information and the latest trends in food and nutrition.
The data revealed that 68% of high earners make a special effort to maintain a healthy diet and are most likely to avoid artificial sweeteners and alcohol.
More than half of all affluent respondents use over-the-counter health supplements for overall health and adding nutrients to their diet. Younger generations are more likely to experiment and adopt new health and wellness products, whereas seniors may be slower to engage in trends.
As for wellness, 38% of high earners meditate or do yoga, with affluent earners looking to de-stress. The takeaway? Marketing messages that focus on stress reduction will resonate with affluent consumers.
The entire Ipsos webinar on affluent Americans’ wellness spending habits can be viewed here.
