Why is this important for Brands?
As we enter this new era of wealth, brands that tap into this mindset - offering more solutions and means to achieve these new symbols of status - will reap the benefits.
What's driving all of this?
Make no mistake, this is a momentous shift away from our traditional perceptions of wealth within society, and it's not a shift that's happened entirely out of the blue. A key driver of this sentiment is consumer stress. Anxiety levels are at a peak and are only forecast to grow: the World Economic Forum estimates that by 2030, the cost to the global economy of all mental health problems could amount to $16 trillion.
Data shows that this is happening right now
Researchers are uncovering the emerging signals of the 'wellness as social status' trend across the world:
The global wellness economy will reach nearly $7 trillion by 2025
according to the Global Wellness Institute.
79% believe that wellness is important
and 42% consider it a top priority, in a McKinsey study of roughly 7,500 consumers in six countries.
71% of employees would choose to work from anywhere over being promoted
according to a survey conducted in the US, UK, France, Germany, Netherlands, Brussels, Spain, Sweden & Australia.
Vice President of Global Thought Leadership, Nielsen