Gen Z and Millennials’ love for wellness could help the industry thrive while others struggle. Even as inflation makes it harder for young gens to spend, Bank of America reports that Millennial and Gen Z households spend around three times the amount that baby boomers do on fitness, activity-based leisure, and “wellness focused” discretionary items. For example, these gens are driving growth in areas from fitness centers to non-alcoholic beverages, creating what analysts call a “recession-resistant corner of the market.” Searches for at-home or investment wellness trends like red light therapy and cold plunges have also skyrocketed. As for brands, fitness chains like Life Time with its expanded offerings (including pickleball and cold plunges) and SharkNinja with its influencer-approved blenders are perfectly positioned to capitalize on these young consumers health-focused spending habits. (Business Insider)
👀 Read more from YPulse: How Gen Z and Millennials Are Redefining Wellness
