Headlines in the Global Wellness Economy
Global Wellness News™ | May 12th, 2022
Imagine a future where, after a night of bar-hopping with friends, you can whip out your phone, consult a smartphone app connected to a wireless device stuck to the side of your arm, and find out exactly how hammered you are.
Market watchers were anticipating a rough quarter for Peloton, but not quite this bad. The beleaguered connected fitness company missed revenue estimates by $6 million, reporting $964.3 million – that’s down from $1.26 billion from this time last year. Losses for the quarter hit $757.1 million.
Psychiatrists and psychologists once ran their own practices. Now the local therapist office could be controlled by a buyout king. Venture capitalists and private-equity firms are pouring billions of dollars into mental-health businesses, including psychology offices, psychiatric facilities, telehealth platforms for online therapy, new drugs, meditation apps and other digital tools.
Short trips and staycations were how Chinese spent their Labor Day holiday this year, amid What Happened: COVID-19 control measures and ongoing domestic travel restrictions. Of these, “glamping” (glamorous camping) came out on top. According to travel booking site Qunar, ticket sales for parks that allow campsites increased by over 50 percent compared with the same period last year.
The owners of the luxury St. Regis in Aspen – which has become an even bigger hotspot for New Yorkers during the pandemic – have bought a historic castle.