Millennials Driving Demand In Health And Wellness Through Mobile, Says Yahoo
- by Ben Frederick @mp_benfred, August 28, 2015
Despite earning less than previous generations, Millennials are spending more on health and fitness. A Yahoo Health study released this week analyzes the behavior
of 18- to-34-year-olds, and finds them especially interested and engaged in health and wellness.
Accounting
for $1.4 trillion dollars of spending power, and projected to make up 50% of the workforce by 2020, marketers do love their Millennials.
Millennials consume a large amount of health content, with 1 in 3 sharing health info through social media, Web sites, text or email each week. Nine in 10 said they
pursue health in order to be successful in other areas of life.
Breaking that down, the study found that
the motivation behind a desire for good health was quality of life and control over their own well-being. When asked, 53% of Millennials said they value health more than any other category except
family. Eighty-four percent exercise at least once a week.
Clearly, Millennials are incredibly engaged with
their mobile devices. According to a Bank of America/Braun research trend report on consumer mobility from 2014, 96% said their mobile phone was more important to them than a toothbrush, car, TV, or
social networking site.
All this engagement is reflected in their mobile usage, as Health and Wellness apps
saw a 171% annual growth in usage.
Citing statistics regarding the penetration of mobile technology (73%
projected by 2018), engagement with mobile devices, and the inclination to share with their peers, Yahoo’s key takeaway from the study was the need for brands to demonstrate expertise
in the space.
The study recommends
that marketers looking to become a trusted source share tips, inspire consumers, or help empower them in their quest for fitness. In the end though, for Millennials, the content is more important than
the ad.
