Equinox Chairman Says 'Health is the New Luxury' as Wellness Spending Soars

Equinox chairman Harvey Spevak recently stated that demand for the company's 'Optimize' memberships highlights the 'insatiable' demand by the wealthy for wellness offerings. This trend is part of a larger shift in the way people prioritize their health and wellness.

The rise of wellness spending is not limited to Equinox. According to a recent report, the global wellness market is expected to reach $5.5 trillion by 2025, up from $4.2 trillion in 2020. This growth is driven by increasing awareness of the importance of health and wellness, as well as the desire for luxury experiences.

Equinox's 'Optimize' membership program offers a range of services, including personalized fitness coaching, nutrition planning, and stress management. The program is designed to help members achieve their health and wellness goals, and is priced accordingly. Members pay a monthly fee of $3,000, which grants them access to Equinox's premium services and amenities.

The demand for wellness services is not limited to Equinox. Other luxury fitness and wellness brands, such as SoulCycle and Aire Ancient Baths, are also seeing increased demand for their services. This trend is expected to continue, as more people prioritize their health and wellness.

The rise of wellness spending is also driven by the growing awareness of the importance of mental health. According to a recent survey, 75% of millennials consider mental health to be just as important as physical health. This shift in priorities is driving demand for wellness services that focus on mental health, such as meditation and yoga.

In conclusion, the trend of wellness spending is on the rise, driven by increasing awareness of the importance of health and wellness. Equinox's 'Optimize' membership program is just one example of the many luxury wellness services that are available to those who are willing to pay a premium for their health and wellness.

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[6] Equinox chairman says 'health is the new luxury' as wellness spending soars