Medifast Survey Indicates Consumer Focus on Health and Wellbeing Remains Strong

BALTIMORE, Dec. 5, 2022 /PRNewswire/ -- Medifast (NYSE: MED), the global company behind one of the fastest-growing health and wellness communities, OPTAVIA®, today released findings from a survey designed to further understand the shift in the spending habits of U.S. adults and how they are prioritizing their health and wellbeing heading into 2023.

The October 2022 survey of 2,000 nationally representative U.S. adults* found that 75% have been affected by inflation and 81% have cut down on their spending within the last six months. While the broader macroeconomic environment has been impacted, 70% of respondents said they do not plan on letting their health and wellbeing falter, with 57% saying they would spend more time on their health and wellbeing in the coming year.

"Despite the challenging moments the world has faced over the past couple of years, it is no surprise that people are motivated to invest their time and resources into prioritizing their health and wellbeing," said Dan Chard, Chairman and CEO of Medifast. "Consumer focus and awareness around health is stronger than ever and will remain important as we enter the new year. OPTAVIA's unique approach, reinforced by a dedicated independent Coach and Community, remains a critical point of differentiation for Medifast and can help those looking for a different way to tackle their goals." 

Other notable findings include:

• Respondents were least likely to cut spending on health and wellbeing (23%) versus shopping (70%), entertainment (59%), food (58%), travel (51%), luxury goods and services (49%), their social life (48%), and hobbies (44%).
• Respondents prioritized health and wellbeing (63%) over other areas of their life including their career (26%), traveling (18%), dining out (17%) and their education (16%).
• Respondents shared that the top area that they would never cut down on spending is on their health and wellbeing (44%) and emphasized that it's important to prioritize spending time and money on your health above other areas in life (69%).
• U.S. adults know that being healthy isn't all about food and nutrition and know that their wellbeing is also impacted by sleep (72%), exercise (68%), and mental health (65%).

"As we head into the holidays, it is common for people to use this time as an opportunity to set lofty health and wellness goals. However, we know big, audacious new year resolutions are rarely adopted for the long-term. Instead, try incorporating small, healthy habits that can be gradually added to your daily life, ultimately helping to create a foundation for lasting success," said Satya Jonnalagadda, Ph.D., MBA, RDN, vice president of scientific and clinical affairs at Medifast.

*This random double-opt-in online survey of 2,000 nationally representative U.S. Adults was commissioned by Medifast and conducted by a market research company, OnePoll, between October 20 and October 24, 2022. All participants are paid an amount depending on the length and complexity of the survey. The survey was overseen and edited by the OnePoll research team, who are members of the MRS and have corporate membership to ESOMAR and AAPOR.

Medifast (NYSE: MED) is the global company behind one of the fastest-growing health and wellness communities, OPTAVIA®, which offers scientifically developed products, clinically proven plans and the support of independent OPTAVIA Coaches and a Community to help Customers achieve Lifelong Transformation, One Healthy Habit at a Time®. As the publicly traded market leader by revenue in the U.S. $7 billion weight management industry, the company has impacted more than 2 million lives through its Community of OPTAVIA Coaches, who teach Customers how to develop holistic healthy habits through the proprietary Habits of Health® Transformational System. Medifast was recognized in 2022 as one of America's Best Mid-Sized Companies by Forbes, in 2020 and 2021 as one of FORTUNE's 100 Fastest-Growing Companies and was named to Forbes' 100 Most Trustworthy Companies in America list in 2017. For more information, visit MedifastInc.com or OPTAVIA.com and follow @Medifast on Twitter.

SOURCE Medifast