Accenture Report: Consumers See Health And Well-being As “Essential” Spend Category

According to Accenture's Consumer Pulse Survey 2022, even in the face of widespread uncertainty and personal financial strains, consumers are considering health and fitness to be an "essential," alongside groceries and household cleaning products.

Accenture's survey includes more than 11,000 consumers in 16 countries and offers insights into consumer outlook, sentiment and behaviours today. It gets to the heart of what's really driving retail purchasing right now. The survey of 11,311 consumers from 16 countries: Brazil, Canada, Chile, China, France, Germany, India, Indonesia, Italy, Singapore, Spain, Sweden, United Arab Emirates, the U.K., the U.S. and Vietnam found that even though two-thirds (66%) of survey respondents said they feel squeezed financially, 80% also said they intend to maintain or increase their spend on areas related to health and fitness — such as exercise classes or vitamins and supplements — in the next year.

"Despite hard times, it is clear that people have redefined health and well-being to be an essential good. As a result, people plan to maintain or increase their spending in this area this year, regardless of income levels," said Oliver Wright, a senior managing director at Accenture. "With the health and wellness market expected to increase to more than $1 trillion in spending globally by 2025, consumer-facing companies must tap into cross-industry expertise and scientific and technological breakthroughs while also considering consumers' changing priorities when designing new offerings."



The report reveals that there is a notable spending trade-off that consumers don't plan to make—regardless of their income. On average, consumers expect to spend 27% more on "health and fitness" in 2022. High-income consumers expect to increase their spending by 41%. Low-income consumers still plan to spend 21% more. Post-pandemic consumers are embracing the importance of self-care. They consider things like gym memberships and vitamin subscriptions to be essential spend like food and groceries.