Medifast released the findings of its survey designed to further understand the shift in the spending habits of U.S. adults and how they are prioritizing their health and wellbeing heading into 2023.
The survey was conducted in October 2022 on 2,000 nationally representative U.S. adults. It was found that 75% have been affected by inflation and 81% have cut down on their spending within the last six months. While the broader macroeconomic environment has been impacted, 70% of respondents said they do not plan on letting their health and wellbeing falter, with 57% saying they would spend more time on their health and wellbeing in the coming year.
“Despite the challenging moments the world has faced over the past couple of years, it is no surprise that people are motivated to invest their time and resources into prioritizing their health and wellbeing,” said Dan Chard, Chairman and CEO of Medifast. “Consumer focus and awareness around health is stronger than ever and will remain important as we enter the new year. OPTAVIA’s unique approach, reinforced by a dedicated independent Coach and Community, remains a critical point of differentiation for Medifast and can help those looking for a different way to tackle their goals.”
Other important findings:
- Respondents were least likely to cut spending on health and wellbeing (23%) versus shopping (70%), entertainment (59%), food (58%), travel (51%), luxury goods and services (49%), their social life (48%), and hobbies (44%).
- Respondents prioritized health and wellbeing (63%) over other areas of their life including their career (26%), traveling (18%), dining out (17%) and their education (16%).
- Respondents shared that the top area that they would never cut down on spending is on their health and wellbeing (44%) and emphasized that it’s important to prioritize spending time and money on your health above other areas in life (69%).
- U.S. adults know that being healthy isn’t all about food and nutrition and know that their wellbeing is also impacted by sleep (72%), exercise (68%), and mental health (65%).
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