An article from Professional Beauty notes while wellness is often represented as a fad or niche market, a study conducted by independent non-profit research agency SRI International, released at the 2010 Global Spa Summit (GSS) in Istanbul in May, reveals that the yearly worldwide wellness industry is poised to cross the $2 trillion mark in 2011.
The report, titled “Spas and the Global Wellness Market,” represents one of the first analysis of the wellness industry and the consumer forces driving its growth.
According to Professional Beauty, “three mega-trends will ensure continued growth in wellness: an aging world population; failing conventional medical systems, with consumers, healthcare providers and governments seeking more cost-effective, prevention-focused alternatives to illness; and consumer awareness of alternative health approaches via the internet and celebrity wellness advocates such as Oprah Winfrey and Jamie Oliver.”
The report found that 71% of consumers would be more likely to visit spas if they learned that research demonstrated treatments deliver measurable health benefits.
The key findings are that 81% of consumers are “extremely” or “very interested” in improving their wellness, and the top three things they will do to improve this is exercise, eat better and visit a spa.
82% of spa industry respondents report they’ve already made changes in their business over the last five years to respond to the wellness trend, and the vast majority has seen revenue growth as a result.
To read the entire article from Professional Beauty, click here.