The COVID-19 pandemic fast-tracked the conversation around wellness from an idea to required action, globally. The increase in at-home wellness experiences exploded, as clients flocked to purchase items like the Mirror, which allows those unable to go to the gym to have that same experience at home or in hotels. The uptick in sales of brands such as Peloton and Fabletics, as well as the implementation of drop shipping skin care products to consumers all resulted from the increased demand for wellness.
The United States is one of the largest providers of wellness experiences and set many of the trends. The concept of wellness expanded in definition and application over the past two years. Wellness now includes finding ways to add to self-care, mentally, physically and emotionally, combined. The trend is set to continue in 2022 and for years to come. A few areas generated the most buzz and revenue in the wellness sector—wellness and healthcare, wellness technology and mental wellness.
Wellness, Health and Healthcare
The focus on the infusion of wellness practices during the pandemic shined a light on the need for better health, which has built the bridge between wellness, health, and healthcare, from customer-centered wellness experiences to patient-centered healthcare programs, such as telehealth and online therapy sessions. Globally, the context of wellness, health, and healthcare have converged.
The charge is being led by baby boomers and Generation X, who have held tight to the notion that aging is a choice. The cohorts have flipped the wellness and healthcare industry to meet their needs with telehealth apps, complementary modalities, lifestyle changes and the fusion of wellness into every aspect of life. That expands to where and how they live. Multi-generational plans, similar to those at Serenbe, located outside of Georgia, are developing around the U.S. and the world. Wellness real estate is one of the fastest-growing sectors, especially in the past two years.
Related: 5 Self-Care Rituals Clients Are Seeking
The Global Wellness Institute (GWI) notes that wellness real estate has grown tremendously over the past five years and is valued at $275 billion.1 Consumers are now building for health and wellness and seeking to improve and incorporate preventative healthcare practices into the home. Wellness communities allow for daily rituals, from spa services of facials and massages, to walking trails, fitness centers, culinary experiences, and yoga and meditative practices. The idea of bringing wellness home and living it every day is the driving force behind the surge in wellness real estate, which goes beyond the notion of Peloton, Mirror and home sauna experiences. At the helm is The Mandarin Oriental, leading the way in wellness living with the launch of The Residences Mandarin Oriental Boca Raton, with golf courses and meditation spaces. In addition, the Spa at Mandarin is world-renowned for its offerings and experiences. Residents can incorporate those wellness components into a daily ritual, enhancing health, well-being and quality of life.
The concept of wellness real estate is being applied across all income brackets and experiences. Agrihood, a wellness community centered around farming in Santa Clara, CA, offers affordable housing to seniors and veterans, as well as traditional pricing options. Six Senses offers residential opportunities at many of the brands luxury properties. As a leader in the wellness space, Six Senses infused wellness, technology and opulence into spaces and locations that have buyers paying prices that are unfathomable by most. Which again blurs the lines of wellness experiences and healthcare, and creates a whole new lifestyle, experience and opportunity. Along the same lines, Canyon Ranch Spas are branching into to new concept of Wellness Clubs, with the first launching in Fort Worth, TX. Canyon Ranch, who also offers world-renowned wellness experiences, added residential components well before it was a trend to add to wellness and health experiences for those unable to travel to the famed locations. The merging of wellness, health and healthcare will be the standard in the next few years, and everyone will (hopefully) benefit from the trend.
Continue reading more global wellness trends in the May Digital Magazine...
Sherrie Tennessee has almost 20 years of experience in the spa industry including the role of a massage therapist, nail tech, spa owner, speaker, professor, educator and author. She is the founder and education director of SpaSOS. Prior to that, she served as spa director for Mandarin Oriental in Washington D.C. and education manager for Sandals Resorts International-Red Lane Spas.