People in the U.S. are estimated to spend about $450 billion on wellness each year, according to McKinsey, with the industry growing annually by more than 5%.
As the industry has boomed in recent years, Nutrisystem’s marketing and programming has become more focused on living a healthy lifestyle, Mikulak said, as opposed to losing weight for aesthetic reasons. The strategy had already become more attractive to consumers in the years before COVID, he said, and the pandemic accelerated the trend.
In an interview last week, The Inquirer asked Mikulak about other ways the pandemic, inflation, and social media have affected the company.As we come off a year of record inflation, that saw rising prices on just about everything and some people cutting back on discretionary spending, how would you asses how Nutrisystem is doing overall?
The pandemic made people a lot more aware of their health and how important it was to be healthy. We obviously help people do that. As people lose weight, they can live a healthier life. And we deliver food to the door. E-commerce, home delivery, has continued to grow. It was growing before COVID, but COVID has accelerated that growth. Dropping [meals] right to their door has really allowed us to be successful during this difficult time.January has always been our busiest month.