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Wellbeing industry

Over the past month, there has been a noticeable spike in a wide variety of digital leisure activities. See the source here.

$2.2 billion has been invested in WellTech startups. The wellness business is valued at a growing $4.2 trillion, nourished by a desire to merge with the healthcare industry and create a new market.

Wellness trends for 2020

A rise in the “sleep economy” and a new vision

The sleep economy is worth $432 billion today. Future projections suggest that it will only grow, with new innovative technologies that focus on sleep quality and boosting brain/body systems that are influenced by the circadian clock.
As Harvard professor Dr. Steven Lockley argues:
“Circadian health optimization—incorporating the type and timing of light—will soon become more important than ‘sleep.’ Solutions that realign our internal circadian clocks with each other, and our internal clocks with the outside world, will surge.”

Baby boomers redefined aging

The World Health Organization predicts that the world’s 60+ population will nearly double by 2050, increasing from 12 percent to 22 percent. Industry analysts predict that more conglomerates will invest in the senior market, adding new products and experiences that attest to the boomers’ vibrancy. They’re living longer and healthier, and the market can no longer afford to ignore them.
Today’s fifty-year-olds are anything but boring; they’re active, vivacious, and far more engaged in exciting endeavors than their predecessors.

Mental Wellness and Technology: Rethinking the Relationship

Awareness of the need to address mental health has grown significantly in the last few years. Currently, the biggest barriers to treatment remain stigma, time, cost and availability. Many people wait weeks for an appointment with a mental health professional, provided that they can afford it.
Mental health tech will move into the mainstream as cultural norms continue to shift. Industry analysts predict that 2021 will see a big spike in the adoption of telehealth, both in the mental healthcare space as well as in primary care.

What are your challenges?

01.
A higher demand in healthcare and wellbeing in niche secors.
02.
A need to adapt day-to-day business practices.
03.
Digitalising wellbeing without a precedent to follow.

How do we solve them?

There are a number of key questions for businesses looking to succeed inthis space

Key Questions for Leisure Operators. See the source here.
01.
Which customer groups are you targeting and what are their specific needs from a digital solution? What is the problem you’re solving for?
02.
How is your proposition differentiated versus generalist user-generated platforms such as YouTube? What’s your right to win and how can you enhance this?
03.
How can you use data and machine learning to enhance the user experience and improve content curation?
04.
How do you foster a user community and encourage healthy interactions and even competition amongst the user base? How can you link in with other digital / social communities?
05.
How can you link in with the physical world – either through your own physical space or through partnerships with others?
06.
What are your options for monetisation, and what is the right pricing strategy? Are there creative incremental revenue streams from a supply-side that could support the economics?
Our solution

Our secret sauce is to combine our AI technology with 12 years of experience in growing wellbeing businesses across the globe.

Contact us to discuss your lead price together!

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