March 09, 2023
Having weathered the Great Recession in 2008-2009 and the Pandemic Recession in 2020, I have experienced firsthand healthcare advertising’s resilience, while colleagues in other industries sadly suffered. Despite today’s economic uncertainty, I’m optimistic healthcare advertising will once again be recession proof for four reasons:
1. Consumers won’t compromise their health and wellness.
Eighty percent of global consumers expect to maintain or increase health and wellness spending this year, despite 66% also feeling financially squeezed (Accenture, 2022).1 They want personalized solutions for essential health needs—physical, mental, lifestyle, sleep, and other self-care behaviors. These needs are fueling new competition to drive the industry forward.
Continue reading with PM360.
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