A new report from J. Walter Thompson’s American Innovation Group tackles one of today’s most explosive consumer sectors- health. You can read the report here.
“The Well Economy” comes at a time when the definition of “health” is expanding rapidly – as are the industries that cover it. Sectors from retail to beauty are taking cues from wellness branding to realign with consumer priorities. And technology is driving unparalleled changes in healthcare, creating a storm of disruption in the $3 trillion US healthcare industry.
What does it mean to be well? How are health and wellness brands evolving? And most importantly, how can brands reach consumers in this space?
To answer these questions, “The Well Economy” features exclusive interviews with experts in both the healthcare and lifestyle industries. The insights are supported by original data from a survey of 1,007 US consumers conducted by SONAR, JWT’s proprietary research unit.
Key findings from the report include:
• 77 per cent of consumers associate “health” with their physical condition, but nearly as many (75 per cent) include mental health as well
• Millennials look outside of the pharmacy for treatment, preferring non-medicinal options (59 per cent) to over-the-counter (55 per cent)
• Consumers welcome leadership from Silicon Valley – 75 per cent of respondents think startups could improve health insurance.
• While 64 per cent of respondents would prefer to track their health from home, a majority (54 per cent) have not found health-tracking apps useful
• Just 37 per cent of consumers would trust consumer brands with their DNA information
Lucie Greene, worldwide director of the innovation group, said of the new report: “As we expand how we define wellbeing, we’re seeing a more holistic view of health that wraps in body, mind, and more while also creating space for new opportunities for brands.”
The report also includes 14 pages of original infographics that offer a peek at the new visual language of healthcare as well as a preview of revolutionary technologies that will shape health moving forward.