{"id":15626,"date":"2025-04-02T07:07:33","date_gmt":"2025-04-02T07:07:33","guid":{"rendered":"https:\/\/imsfund.com\/?p=15626"},"modified":"2025-04-02T07:07:33","modified_gmt":"2025-04-02T07:07:33","slug":"bank-of-america-analysts-wellness-industry-expected-to-boom","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2025\/04\/02\/bank-of-america-analysts-wellness-industry-expected-to-boom\/","title":{"rendered":"Bank of America Analysts: Wellness Industry Expected to Boom"},"content":{"rendered":"


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In January, Bank of America analysts<\/a> noted that self-care services like salons and gyms were notable economic standouts that have been “solid” for the past two years. Boomers led beauty spending, while Gen Z and millennials aimed for more self-care and gyms, including wellness trends like red light therapy and cold plunges.<\/p>\n

Now, Business Insider<\/i> reports<\/a> that analysts are noting that the “generational shift” in spending towards “healthy habits is driving growth in wellness-related stocks,” according to a Bank of America<\/a> note on Tuesday.<\/p>\n

Gen Z and millennials are prioritizing movement and fun, spending their money on leisure activities like pickleball and wellness-focused discretionary spending like anti-aging treatments.<\/p>\n

Related: <\/b>The Majority of Gen Z Is Streaming Movies and TV Shows at Work, According to a New Survey<\/a><\/p>\n

Investing.com notes<\/a> that credit and debit card data from the bank showed a year-over-year increase in fitness spending of 7% in February, which they said was the biggest growth in a year and a half.<\/p>\n

“We believe there is an ongoing generational shift toward healthy habits, which is supportive of wellness stocks,” Bank of America wrote<\/a>.<\/p>\n

The bank wrote that younger generations are also shunning the bar and instead opting for the gym.<\/p>\n

“Millennials and Gen Z are allocating a higher percent of their budget to fitness [that’s] surpassing bars\/pubs,” Bank of America noted.<\/p>\n

Related:<\/b> The ‘Lipstick Effect’ Exposes a Surprising Truth About Our Priorities in a Recession. Here’s How Businesses Can Cash In<\/a>.<\/p>\n

In November 2024, a report from the Global Wellness Institute<\/a> found that the industry reached a record-high worth of $6.32 trillion in 2023 \u2014 bigger than the pharmaceutical and sports categories.<\/p>\n

All of this data could lead to what Business Insider<\/i> is calling a “recession-resistant corner of the market.”<\/p>\n

Still, spending on beauty, or what is known as the “lipstick effect,” is not unheard of in times of economic strife.<\/p>\n

During the Great Recession in 2008-2009, cosmetics expenditures increased<\/a> among women ages 18 to 40 (though they gravitated towards lower-cost brands), per the Journal of Behavioral and Experimental Economics<\/i>.<\/p>\n<\/p><\/div>\n


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In January, Bank of America analysts noted that self-care services like salons and gyms were notable economic standouts that have been “solid” for the past two years. Boomers led beauty spending, while Gen Z and millennials aimed for more self-care and gyms, including wellness trends like red light therapy and cold plunges. Now, Business Insider […]<\/p>\n","protected":false},"author":5,"featured_media":15627,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/assets.entrepreneur.com\/content\/3x2\/2000\/1743539333-Sauna-cold-plunge-2167047135.jpg?format=pjeg&auto=webp","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-15626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/15626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=15626"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/15626\/revisions"}],"predecessor-version":[{"id":15628,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/15626\/revisions\/15628"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/15627"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=15626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=15626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=15626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}