Redefining health in an age of uncertainty rose

Redefining Health in an Age of Uncertainty

Peter Rose, Executive Vice President

September 26, 2013

A Look Inside The Health Mindset of American Consumers

© The Futures Company 2013 2 ׀

Where we’re going today

§  Introduction to The Futures Company

§ Five key health and wellness themes for today

§ Wearables: The Next Frontier of Consumer Control

§  Information Overload

§ Beyond Diet and Exercise

§ The 76 Million-Ton Gorilla: The Baby Boomers

§ One Size Does Not Fit All

§ Recap and Questions & Answers


The Futures Company provides an unparalleled view into the hearts and minds of consumers around the world

Global MONITOR

US Yankelovich MONITOR

US Multicultural MONITOR

US Health & Wellness MONITOR

US TRU Youth MONITOR


Our insight today comes principally from two of our longest-standing studies of American consumers

§  Conducted annually since 1971 §  4,600+ US consumers 16 and older §  Nationally representative §  Mixed methodology (internet, phone, mail) §  Values, attitudes, marketplace behaviors §  Fielded March-June 2013

§  Conducted in various forms since 2000 §  5,000+ US consumers 18 and older §  Nationally representative §  Internet-based survey §  Health values, attitudes, concerns,

behaviors §  Fielded May 2013

US Yankelovich MONITOR Health & Wellness MONITOR


Wearables: The Next Frontier of Consumer Control


Consumers’ focus on responsibility, discipline and accountability during the recession helped them make strides financially


51% 47%

38%

2009 2011 2013

I don’t have as much discipline as I’d like when it comes to how I

spend my money

…as consumers have exerted greater effort around personal

control, responsibility, and discipline since the downturn

35% 30%

25%

41% 37%

33%

2009 2011 2013

Putting food on the table Paying monthly bills

Consumers’ worries have declined over the last few years…


And now, that desire for control can be exerted in other important facets of life — like personal health and well-being



I have control over my health (rating of 9-10 on a 0-to-10 scale)

69% of consumers say

that “being in control of your life” is a sign of success and accomplishment

29% 2011

34% 2013 2009

26%


Wearable technology becomes the route to consumers’ increasing sense of personal control


* Rackspace in association with the Centre for Creative and Social Technology (CAST) at Goldsmiths, University of London, “The Human Cloud: Wearable Technology from Novelty to Productivity”

"I am prescribing a lot more apps than medications these days." —Eric Topol, MD, author of The Creative Destruction of Medicine

“I think [quantifying personal health] will become a mainstream, almost ubiquitous practice and at the same time will become invisible because it will be blend in with daily life.” -Gary Wolf, Wired contributing editor and co-host of The Quantified Self blog

60% of US adults believe that wearable tech makes them feel more in

control of their lives*

Wearables market to triple to $8.3 billion by 2018 Source: MarketWatch


Health monitoring moves from being a nice-to-have to an essential part of solving consumers’ biggest health challenges


55%

54%

49%

55%

60%

75%

75%

77%

78%

84%

Keeping stress at a manageable level

Eating a well-balanced diet

Maintaining a healthy weight

Maintaining a positive attitude

Getting enough sleep

View As Important Currently Doing

T2 Mood Tracker

FitBit

LoseIt

Bliss Buzzer

Beddit


Wearables: Things to Think About


Fitness apps were the low hanging fruit; consumer appetite for monitoring and tracking ‘wellness vitals’ will continue to grow

Millennials (ages 17-34) lead the pack in wearable adoption rates, but Generation X (35-48) and Baby Boomers (49-67) can be the

growth engine because of increasing attention to health

Expect continued tension around privacy — consumers’ concern about the security of the electronic exchange of

health information is rising sharply

The Futures Company 2013 © 11 ׀

Information Overload


Information is power…unless there’s too much


67% of consumers think their IQ is higher than average

Women 61% Men 76%

of consumers say it’s

important to be well-informed about health issues (up from 67% in 2011)

72%

HOWEVER…

67% say there’s so much information about nutrition these days that it is confusing to know what you should and should not eat

Feel overwhelmed by all the health information that’s available today

27% 2011

36% 2013


And in the case of the Affordable Care Act, maybe it’s just too overwhelming to process

§  Opinion on the Affordable Care Act is divided; one in four says they have no opinion at all

§  Only three in ten consumers feel they have enough information about the Act to understand how it will impact them and their family

§  Just one in six consumers has done research in the past year to understand how the ACA will impact them and their family


ILL-EQUIPPED INDECISIVE APATHETIC

16% 2013

Favorable 38%

Unfavorable 38%

No opinion 24%

2013 Have enough 31%

Don’t have enough 41%

Not sure 28%


Technology may make life easier, but when the chips are down, people still value people


Source: 2013 Health & Wellness MONITOR, among female respondents only. Partial list * Includes cooking, recipe, diet, fitness websites

8%

10%

14%

19%

22%

25%

28%

33%

33%

42%

67%

34%

39%

34%

37%

71%

33%

62%

30%

30%

36%

83%

Social networking site

Health insurance provider

Health magazine

Health TV show

Nurse

Other health websites*

Pharmacist

Search engine

Friends/family

Health info website

Doctor

Considered very valuable source by user Use regularly

Sources used on a regular basis for health information Among women:


Information Overload: Things to Think About


In an increasingly technology-driven world, don’t forget the value of the personal touch

The solution is not more information. It’s the right information, simplified

As smart as consumers think they are, don’t expect them to know as much as they should in the whole health arena


Beyond Diet and Exercise

A More Holistic View of Wellness


We saw the effect of the recession on stress levels in our 2011 US Yankelovich MONITOR…


Source: 2011 US Yankelovich MONITOR

No

effect

The amount of stress in your life 45% 50% 5%

Your sleep 26 70 4

Your relationship with your spouse (among married)

20 75 5

Your health 19 77 3

Your relationship with your family 17 78 5

Your relationship with friends 13 83 5

Negative effect

Positive effect

What impact the recession and recent economic weakness have had on:


…and the permanence of uncertainty lasted long after the recession had bottomed us out financially


Enjoy and celebrate life despite obstacles, challenges

60% 47% 2010 2012

Know how to have fun

61% 2010

49% 2012


Among Generation X:


Emotional, mental, and spiritual well-being are taking center stage as stress becomes a more permanent fixture


The activation of a so-called “stress gene” has been linked to the spread of breast and possibly

other types of cancer

Women…

44% of college students in counseling in 2010 have severe

psychological disorders, compared to just 16% in 2000

Millennials…

Situations of elevated stress at work can lead to an inflammatory response which can in turn create

cardiovascular problems

At Work…

Men suffering chronic stress are significantly more likely to develop

Type II Diabetes than men who reported no stress

…and Men

Suicide has increased among middle age consumers, increasing 28% among 35-64 year-olds from

1999 to 2010

…and The Middle-Aged

Bullying in school children has been found to be more common where mothers endured extreme

stress during pregnancy

…and At School


Catering to consumers’ needs around happiness, peace of mind, and feelings of contentment will grow increasingly important



Stress interferes with my ability to lead a healthy life

43% 2011

49% 2013

of consumers are satisfied with their current stress level

Only 36%

Signs of success and accomplishment:

81% J Being satisfied with your life

Having a lot of money

24% $$$


The question: for whom is the opportunity greater?


One of the best ways to relieve stress: vent to a friend or family member

Women

50%

28% Men


Beyond Diet and Exercise: Things to Think About


The road to physical well-being for consumers won’t be as smooth without first attending to emotional, mental, and spiritual wellness

While women are the logical primary target in this arena, expect men’s struggles with emotional well-being to intensify

Don’t be an obstacle: think customer service…delighting the consumer…ease of experience…removal of fine printing. Get human!

More than aromatherapy: think reduction in time, effort, energy expended


The 76 Million-Ton Gorilla: The Baby Boomers

Getting Older, But Not Growing Old


§  WWII victory

§  Postwar economic expansion

§  Unprecedented employment and educational opportunities

§  Suburbanization

§  Social movements (e.g., Civil Rights)

§  Emergence of mass media

§  Quantum leaps in health, manufacturing, science, infrastructure

§  A shared assumption of affluence

§  Material security is a given

§  Future will inevitably be better

§  Problems can always be fixed

§  Old rules often need to be replaced or ignored

§  A world without limits

What made a Baby Boomer a Boomer?

The 76 Million Ton Gorilla: The Baby Boomers

As Baby Boomers came of age

How this shaped Boomers’ expectations

§  Intensity, not just involvement

§  Physical adventure

§  Spiritual adventure

§  I’ll die before I get old

§  Need to stay youthful, sharp, energized; appearances matter

§  Self-sufficiency and staying in charge

How this shapes Boomers’ H&W expectations


Boomers are characterized by three core values


Individuality A lifelong celebration of self and disregard for the “old rules”

Self-absorption A dedication to focusing their energies on maximizing their unique qualities and life experience

Youthfulness The drive to stay vital and connected to the world, ignoring what’s expected in outlook or behavior at any given stage

In 1996, when the first Baby Boomers were turning fifty, we asked them when they thought old age begins: 79.5 years

Median response

Average life expectancy

78 years


Given these core values, Boomers are constantly striving to meet these goals


To be self-

sufficient and remain in control

To stay young

forever

To achieve meaningful

rewards


Mandates for catering to the Boomer health and wellness mindset


Health is tied to every priority or ambition Boomers have for the future. Whatever Boomers pursue or advocate, good health is a necessary requirement.

Boomers expect and want to live longer than prior generations – and are beginning to appreciate the need to ward off or minimize age-driven constraints on quality of life

To stay on center stage, Boomers need to ensure physical well-being and mental acuity

Boomers have always been willing to do whatever it takes; trying new things is a lifelong Baby Boomer habit that won’t dry up just because they’re getting older

The bottom line on Boomers: absent good health, nothing else really matters.


Baby Boomers: Things to Think About


Consider casting preventive measures as “fix-its” — cater to their instant gratification needs

Give Boomers the ability to keep track of/monitor themselves so they can negotiate the demands of being active and vital

Sacrifice is of no interest to Boomers whatsoever


One Size Does Not Fit All



We segment American consumers on health attitudes and behaviors to guide innovation, target more effectively, and improve messaging

§ The LIVING Well segmentation simultaneously examines health challenges and health engagement to influence effective health outcomes through impactful and targeted communications and programs. Segmentation drivers combine: §  Health behaviors §  Health attitudes §  Perceived control over health §  Future health orientation §  Information seeking preferences


LEADING THE WAY § Traditional, Health-focused, Proactive

10%

10% 18% IN IT FOR FUN § Social, Success-oriented, Driven

18%

VALUE INDEPENDENCE §  Cynical, Do-it-Yourself, Leisure-less

19%

I NEED A PLAN § Undisciplined, Advice-seeker, Risk-avoidant

20%

NOT RIGHT NOW §  “Healthy”, Time-pressed, Family-centered

19%

GET THROUGH THE DAY § Poor Health, Present-oriented, Discouraged

14%


The LIVING Well Segments


Health Engagement

Health Challenge

Leading The Way

Positive Attitude

Desire to improve health

Taking action to improve it

10% In It For Fun

Competitive

Goal-oriented

Social

18% Value

Independence

Skeptical

Self-reliant

Present-oriented

19% I Need A Plan

Risk-avoidant

Not disciplined

Seek advice

20% Not Right Now

Stressed

Family-oriented

Younger

19% Get Through

The Day

Discouraged

Poor health

Cash-strapped

14% Segment Size


One Size Does Not Fit All: Things to Think About


There is no single strategy out there to engage consumers around health

Some are driven by health; some are completely disengaged. Some prefer to take care of it on their own; others need hand-holding.

The right product with the wrong message can misfire

Engaging in a dialogue with Millennial Mom becomes more critical to learn her passion points…this will help uncover the things she considers ‘necessities’ — and where she’ll therefore be willing to spend more

This is more than just about demographics. Understand your target consumer’s motivations, unmet needs, levels of trust, and even their

desire to engage socially


A quick recap

Information Overload § Distrustful consumers, conflicting information

create a demand to simplify

Beyond Diet and Exercise § Wellness is holistic; emotional well-being a top

priority in an era where Contentment is the goal

Baby Boomers § Help them stay center stage as they age without

“growing old”…they’ll pay for the opportunity

One Size Does Not Fit All § Different engagement levels, different challenges,

different motivations mean different messages

Wearables § Consumer control moves beyond finances; H&W

becomes the perfect sweet spot for them

Recap

www.thefuturescompany.com www.twitter.com/futuresco www.linkedin.com/company/the-futures-company www.facebook.com/futuresco

Thank you Redefining Health in an Age of Uncertainty

Peter Rose, Executive Vice President [email protected] 323.964.9787

Health & Medicine

Redefining health in an age of uncertainty rose