Millennials Investing in Their HealthFor Millennials, health and wellness are top priorities in maintaining a fit lifestyle. Millennials view investing in activities to stay in shape as priceless and removing it from the budget is non-negotiable.
Studies have shown that Millennials will spend more on health and wellness over their lifetime than on a college education. The average adult spends, on average, $155 per month on staying fit, with a lifetime average of $112,000 versus $98,440 on school. These numbers consist of spending on gym memberships, nutritional supplements, clothing, food and trainers.
Millennials Say "Hello" to Specialized Fitness ClassesWith a majority of Americans spending more than the monthly average on fitness classes, they hold health and wellness of high importance. Millennials are not just investing tons of money for fitness alone, but for the ultimate purpose of enhancing their overall mental health and happiness.
Even though taking expensive fitness classes can add up, Millennials are incorporating that spending into their monthly budget. Instead of cutting health and fitness expenses which are taking priority, they are simply adjusting the rest of their budget around this lifestyle choice.
Breaking a Sweat Pays Off, According to MillennialsThe benefits of investing in health and fitness classes continue to grow for Millennials. Fitness classes provide stress relief, motivation, inspiration and boost in mood. More than any other generation, Millennials prefer specialized group classes such as yoga, high-intensity interval training, kickboxing and spin.
These niche group fitness classes also provide a relaxed social environment that makes working out more fun. Overall the demand for health and wellness products & services have reached a record high globally, estimated to be worth $3.4 trillion, three times the pharmaceutical industry. Its evident that an increase in Millennial spending towards health and wellness “pays to work out” by improving health, mental well-being and productivity in the workplace.