PA Consulting: People Want 'Stackable' Healthcare Products
- Four in five consumers (78%) intend to buy new wellness and fitness products or services by late 2025
- Nearly a third (27%) plan to spend more on health, fitness, and wellness in 2024 than last year
- Most (71%) are open to paying over $100 for sports and fitness tech
Consumers want healthcare brands to help them build ‘stackable’ personalised products and services that leverage data from their daily lives, research shows.
Global innovation consultancy PA Consulting surveyed 4,000 consumers in the UK and US, and uncovered changing consumer wellness and fitness trends.
Half (50%) say they are dissatisfied with their wellness and fitness levels. Just 50% rate their physical health as ‘good’, even though 85% think about it on a daily basis.
Fewer than half are satisfied with their sleep patterns (45%) or their diet and nutrition (47%). Meanwhile, four in five (78%) expect to buy new wellness and fitness products or services by the end of 2025.
The report says brands should consider providing more hyper-personalised, “stackable” sports and wellness offerings.
Nearly all (90%) want a personalised wellness and fitness product or service, and 57% would share personal fitness and health data with brands to attain this.
Two thirds (67%) want personalised vitamins and supplements, a tailored nutrition plan (66%), or a tailored exercise plan based on their sleep quality and quantity (65%).
Exercise equipment, health tracking apps, and sleep products are among the strongest area of interest.
Physical therapy and nutrition apps most wanted
The most popular subscriptions and services in which consumers plan to invest are health tracking apps, physical therapy and healthy food and nutrition subscriptions.
Meanwhile, at-home exercise equipment, sleep and relaxation products, and smart scales topped were voted the top products they would spend money on.
Inclusivity and affordability are a pain point, the report reveals. While consumers are willing to invest more in wellness, they still want products and services to be reasonably priced.
Half say wellness offerings should be more affordable, while just under half (43%) half think the health, fitness and wellbeing space could be more age-inclusive. A third (34%) hold the same views for gender and accessibility needs (37%).
Consumer trust is also lacking in some wellness tech, with users uneasy about using certain wellness-related technology, particularly with personal or intimate information.
While most consumers are willing to share their data, a third report having no trust in at least one type of sports or wellness tech product or service.
Wearable fitness apps have highest trust values
Wearable tech and fitness trackers, and health tracking apps, have the highest trust levels (74% and 72% respectively). However, just half of consumers trust at-home fertility tests (51%) and wellness patches or biosensors (50%), which highlights a trust barrier to overcome for these solutions.
David Knies, wellness and innovation expert at PA Consulting, said: “The global wellness economy is booming across all sectors as people prioritise healthier choices, and consumer spending is on the up.
“However, we’re seeing a clear disconnect between most people’s desire for improvement, and their real-world experiences. Our research points to an opportunity for leaders in the wellness space to offer more “stackable” products, services, and experiences, which are better tailored to individuals’ needs and integrate more seamlessly with their day-to-day lives.
“Brands that can offer more hyper-personalised solutions – whilst addressing consumer concerns around trust, inclusivity, and affordability – will be best-placed to reap the long-term rewards.”