Health & Wellness 2.0
The COVID-19 pandemic created large shifts in how people approach health and wellness. Health and wellness still represent a smart investment choice, but the best areas of investment within that field have changed.
Health and Wellness at Home
Since the introduction of the hula hoop in 1958, the idea of staying fit at home has been one aspect of health and wellness. Up until 2020, at-home fitness consisted primarily of videos and online fitness instruction.
However, even as online fitness expanded, using gyms and other fitness clubs far outstripped at-home options, such as videos.
In the face of COVID-19, however, many physical gyms filed for bankruptcy and faced steep revenue declines, while at-home fitness app subscriptions rose 23% year-over-year.
In addition, sales of fitness equipment for home use grew 40% year-over-year in 2020, and businesses such as Peloton that offer both digital options and at-home equipment options soared.
This trend is likely to continue-59% of Americans do not plan to return to brick-and-mortar gyms, while 87% of those who do plan to go back to the gym also plan to continue at-home exercise as well.
Athletic Clothing as Comfortable Everyday Clothing
During the pandemic, the field of athleisure also expanded, as consumers adopted more comfortable clothing in lieu of traditional office clothing.
When COVID-19 hit, consumers began purchasing fewer work and fashion-forward clothes, but they did begin to purchase more athletic wear. For example, sales of sweat pants increased by 17% in 2020.
Businesses, such as Nike, that were able to embrace athleisure offerings, and sell them online, fared particularly well. As the pandemic recedes, it is likely that athleisure options, and online purchasing opportunities, will continue to expand for consumers.
Preventative Healthcare in the Forefront
COVID-19 made access to healthcare easier than ever before, thanks to the introduction of virtual visits and digitized healthcare information. As the importance of good health in preventing COVID-19 complications has become apparent, as access to healthcare has improved, chances are that consumers will continue to embrace holistic health approaches and preventative medicine moving forward.
Surveys, for example, show that 70% of Americans currently take supplements, many of them increasing their supplement consumption in 2020. In addition, 73% of people globally plan to eat a better diet as a result of the pandemic, and consumption of supplements is already increasing in measurable ways.
A lot of these themes fall under our category of misc. health care investment ideas.