Amidst rising inflation, crippling student debt, unaffordable housing, rounds of layoffs, a lingering pandemic, and a looming recession, workers of all ages are reaching a breaking point. But these stains are most notably affecting our youngest workers, Gen Y and Gen Z. According to LinkedIn, 66 percent of Generation Z wants a company culture built on mental health and wellness.
Wellable Labs’ 2022 Employee Wellness Industry Trends Report found that 90 percent of employers reported increasing their investment in mental health programs, 76 percent increased investment in stress management and resilience programs, and 71 percent increased investment in mindfulness and meditation programs.
Wellness Trending Continues Health and personal wellness, estimated to be worth $1.5 trillion, is definitely a lucrative market to tap into.
It has been expanding at a rate of 5 percent to 10 percent a year with no sign of the post-pandemic slowdown as predicted by some analysts. While wellness spending did slow from the 2020 surge seen during lockdowns and shelter-in-place orders, it is still significantly higher than it was in 2019.
Books on home gardening, fitness, food preparation, and cleaning, as well as hobbies and self-help continue to see double digit growth.
For the full report, please check out The New Age of Wellness: Retailers, Listen Up! (therobinreport.com).