How Gen Z and Millennials Are Making the Wellness Industry Recession-Proof

In a time when economic uncertainty is affecting consumer spending across the board, there’s one sector that’s not only surviving—but thriving—thanks to younger generations: the wellness industry.

💪 The Generational Shift Toward Wellness

According to Bank of America, both Gen Z and millennials are leading a powerful shift toward healthier living. Unlike older generations, these younger consumers are spending significantly more on fitness, wellness products, and health-conscious lifestyle choices.

📊 Quick Stats:

• Gen Z households spend 2.8x more than baby boomers on fitness.
• Millennials spend 3x more than boomers in the same category.
• Fitness center spending rose 7% year-over-year—the highest jump in 19 months.
• Google searches for wellness trends like “cold plunge” and “red light therapy” have skyrocketed.

🛍️ Not Just Gym Memberships—It’s a Lifestyle

The trend isn’t limited to gym memberships or fitness classes. There’s a growing cultural shift toward non-alcoholic beverages, holistic self-care, and activity-based leisure. More Gen Zers are turning away from alcohol and embracing alternatives like nonalcoholic beer and seltzers, which have seen greater spending growth than their alcoholic counterparts for four years straight.

📈 3 Wellness Stocks to Watch

Bank of America analysts have pointed out three companies that are perfectly positioned to benefit from this surge in wellness spending:

1. Life Time Group Holdings (LTH)

• 💰 Current Price: $28.91
• 📈 YTD Growth: +29.12%
• 🎯 Why It Stands Out: Life Time is more than a gym—it’s a luxury fitness experience. App usage among 18–44-year-olds grew 60% in 2024. Their unique offerings like pickleball courts and cold plunge pools align perfectly with the latest wellness trends.

2. Planet Fitness (PLNT)

• 💰 Current Price: $104.83
• 📈 YTD Growth: +5.26%
• 🧱 Recession Resilience: Planet Fitness remained strong even during the 2008 financial crisis, maintaining consistent same-store sales. Its affordability and national presence make it a favorite for budget-conscious fitness fans.

3. SharkNinja Inc (SN)

• 💰 Current Price: $94.90
• 📉 YTD Performance: -2.23%
• 📱 Social Media Buzz: Known for high-quality kitchen appliances, SharkNinja’s blenders and health-focused gadgets are a hit among wellness influencers on TikTok and other platforms.

🧠 Why This Matters

As inflation and economic slowdowns push consumers to be more cautious with their money, health and wellness remain a top priority—especially for Gen Z and millennials. This makes the sector an attractive opportunity for investors and businesses looking to align with future-proof trends.