Written by: Vickie Sullivan | July 09, 2019
The Self-Improvement Market Is Growing, But Also Changing
Many of you know that I love stats. So, this post by MarketResearch.com about the self-improvement market was like Christmas in July for me.
At 30,000 feet, we all know the next generation changes the game. What’s interesting here is how. The need for inspiration and motivation hasn’t changed, as this segment is slated to grow over 5% per year to $13.2 billion by 2022. What has changed for next-generation buyers is the tone and format. Pay attention to these findings:
• Formats. Infomercials and public seminars have taken a hit. I predict this will spill over into the bootcamp market. Successful events will be limited to those with an active fan base. This format may not be the best way to introduce yourself. Audio books and personal coaching are growing. My take: It’s personal and self-paced now.
• Tone vs. content. While baby boomers have been the key consumers, millennials are coming up fast and want more gurus like them. Watch for the younger set to focus on a warmer-yet-still-enthusiastic version of the same ideas. Prediction: The biggest shift won’t be in specific ideas. It will be in tone, giving permission to “be yourself” or to go for broke.
Listen: What Millennials Expect from the Self-improvement Gurus
Each generation leaves its mark. But we can all still participate in the upswing if we focus on changes in format and expectations.
Many thanks to Pegine Echevarria for the share.
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