Gen Z and Millennials are getting older and comprise a significant proportion of the population. They are resilient and have a distinct desire to improve their quality of life in ways that previous generations haven't considered. They are breaking the mold of a one-size-fits-all approach that the healthcare industry has pushed down their throats all their lives. If healthcare businesses don't keep up with the new order, they could quickly fall behind.
A new status quo is in order, but what has caused this? Technology and social media. Technology has made accessing healthcare, like supplements, much more accessible, and social media plays a significant role in purchasing decisions. A report from Rajiv Leventhal shows that around 50% of Gen Z adults use "social media platforms for health-related purposes either all the time or often." Compared to just 12% for Baby Boomers and 20% for Gen X.
It's no secret that Gen Z and Millennials are taking supplements more than ever. Research from Mintel found that nearly half of all vitamin-using American Millennials have increased their usage compared to the beginning of COVID-19. But why?
The younger generations want to boost their overall physical health and immune system. Millennials are already prioritizing supplements to support their mental health. More than ever, the young generations are emphasizing their mental health. No more sweeping it under the rug - it's time to tackle this issue head-on. Technology and social media's stresses on Gen Z and Millennials are unlike anything we've seen before. A survey from New Hope found that 18.1% of Gen Z and Millennials are turning to supplements due to stress. This number drops to just 7.4% when looking at Baby Boomers.
The reality is that times have changed, and this is bringing new challenges for Gen Z and Millennials. Turning to supplements is how these generations feel like they are taking back control so that they can live their best lives.
Technology has made accessing healthcare faster and easier. It all started with the smartphone. Now, doctors aren't the only protectors of knowledge, but Gen Zs and Millennials can find the information when they want, and they want it now. This is now one of the biggest Gen Z healthcare trends.
It's no secret that there have been quite a few inefficiencies when it comes to communicating with healthcare providers, and the younger generations are fed up, preferring to take control into their own hands. Stacy Boone-Vikingson of the Northwestern Health Sciences University (NWHSU) Bloomington Clinic explains, "Millennials prefer to Google an ailment or symptom before they visit a doctor." Gen Z and Millennials have had access to information instantly for almost their entire lives, and this is what they have come to expect.
Thanks to technology, younger generations are investing more time in preventing illness and diseases rather than waiting until they are unwell. Enter supplements! These generations are leveraging the power of technology, searching for supplement-related information on their phones, and then implementing an action plan. Supplements support overall health and aren't just something you take when you are feeling unwell. The younger generations know this and are taking preventative measures.
Global demographic survey data and research compiled by the Oliver Wyman Forum found that "42% of Gen Z respondents said they rely on social media to get medical information, compared with 20% of non-Gen Z respondents." Gen Z, especially, uses social media to get the latest news and more. The impact of social media isn't all positive, though, as the spread of misinformation runs rampant. The spread of misinformation reached extraordinary levels during the COVID-19 pandemic, and US Surgeon General Vivek Murthy issued a public health advisory highlighting the ability of misinformation to spread through social media at "unprecedented speed and scale."
So, how can companies in the healthcare industry utilize social media's benefits positively? Building trust with consumers is essential, and partnering with a Gen Z or Millennial influencer can help you do that. Doctor Mike's rise as a Russian-American social media internet personality and family physician is the perfect example. He went viral when People Magazine named him The Sexiest Doctor Alive in 2015. Dr. Mike currently has 4.4 million followers on Instagram and 12.2 million subscribers on YouTube. On his YouTube account, he speaks about providing "entertaining, reliable, evidence-based medical information."
Influencers who are qualified professionals in the industry illuminate issues and help consumers become empowered when making decisions about their health. Building connections with consumers online may require a different mindset from traditional marketing, but healthcare businesses are now required to do it.
The traditional notion of healthcare is no more! Gen Z and Millennials are all in on consumer empowerment. Whether it's related to their overall wellness or boosting nutrition, these generations are standing up for themselves in a new way. Gen Z and Millennials aren't necessarily "sicker" than the generations before, but they are more open about their struggles. As psychologist Jaclyn Bauer explains, "the younger generation is more open with their mental health struggles." For older generations, she hasn't seen much acceptance regarding struggles in this area.
It's no secret just how much of an impact the COVID-19 pandemic had on shaping consumers' healthcare habits. On top of this, the cost-of-living crisis means that many are feeling the pinch more than ever, and they would instead prevent illness from happening in the first place. This has resulted in an increase in preventive drugs and supplements. For example, the sale of Vitamin C (which is known to contain essential nutrients that are helpful for the body) absolutely skyrocketed during COVID-19, and now data from Precedence Research shows that the Vitamin market is "expected to hit around USD 3.56 billion by 2032".
Picture this: you're in a doctor's office. It's now 30 minutes past your designated appointment time. The receptionist keeps saying, "won't be long". The doctor keeps calling everyone's name but yours. All you need is a new script, so you'll only talk to the doctor for a few minutes. Sounds like fun, right? Nope, not for Gen Z and Millennials! Instead of doing nothing about it, they are the new sheriffs in town, and healthcare businesses must adapt to remain competitive in this new order. It's all about patient-centricity and convenience.
Although it seems as though companies in the healthcare industry are yet to get the message, a study produced by Accenture found that "younger generations are "dissatisfied" and "very dissatisfied" with aspects of traditional care." This means change is a-coming! Supplement businesses can benefit from the power of technology and social media. They can adapt by creating a stronger social media presence to increase their visibility and reach more consumers worldwide. Technology can also be used to personalize their offering to make Gen Z'ers and Millennials feel like the supplement is exactly what they have been looking for.
