There has been a notable surge in demand for products and services from direct-to-consumer brands and internet platforms in the health and wellness sector. This uptick is attributed to the common New Year's resolution of consumers focusing on their fitness and well-being.

HealthifyMe, a startup backed by Khosla Ventures and Unilever Ventures, reported a significant spike in sales on the first day of 2024, reaching 2.5 crore, more than three times its average daily revenue. Tushar Vashisht, the CEO, highlighted a seasonal spike in the new year, accompanied by heightened engagement and excitement from new consumers.

Notably, nearly 66 per cent of the revenue in January so far has come from subscription renewals, a substantial increase from the previous year's 50 per cent. HealthifyMe anticipates touching 35 crore in revenue by the end of January, creating a monthly record.

Boldfit, a bootstrapped D2C brand specialising in fitness products and nutritional supplements, experienced a 20-25 per cent increase in sales during the first week of January, when compared to regular business months. This quarter, January to March, accounts for a significant 35 per cent of Boldfit's annual business, making it the best quarter for the fitness industry as a whole.

Blissclub, an Elevation Capital-backed apparel brand focusing on gym and yoga wear for women, reported robust revenue growth from mid-December to January. Founder and CEO Minu Margeret noted that December 2023 was the best month in terms of top-line performance, with a 50-60 per cent revenue increase compared to the previous months.

While companies like Cultsport and Curefit observed increased sales over the past fortnight, they expect a decline in customer interest by the end of January. Cultsport, the D2C vertical of Tata Digital, predicts a 30 per cent drop by February. However, they still anticipate a 20 per cent growth compared to January 2023, fuelled by ongoing consumer demand and the addition of new product categories.

Fireside Ventures, a brand-focused venture capital firm, recognises the broader trend of growing demand for health and wellness products beyond the typical New Year's resolution season. Ankur Khaitan, at Fireside Ventures, emphasises the shifting mindshare and wallet share of consumers toward health and wellness, signalling ongoing opportunities for investments in this space.

All in all, the health and wellness industry is experiencing a surge in demand driven by New Year resolutions, with several brands recording remarkable sales figures. While the peak is expected to subside in the following months, there is a broader trend of sustained interest in healthier solutions, providing investment opportunities in the sector.

Read more here:
Your 2024 New Year Resolution Has Boosted The Health & Fitness Industry - Her Circle