Are you wondering where the self-improvement industry is headed in 2018? Here are three that show the direction of this market as technology rubs off on it.
The self-improvement industry is valued at $9.9 billion, and it will not end there as growth projections are estimated at a 5.6% average annual gain from 2016 up to 2022. This will translate to a total market valuation of $13.2 billion by that time.
The industry has undergone quite some changes in recent times, and while week-long and weekend retreats were popular, it is hard to find such programs these days. People want knowledge in a capsule and technology is making that very easy. Podcasts, webinars, MP3s and self-development apps are easily available and even free. These changes did not occur all at once but there are discernible trends and here are some that industry watchers expect.
Millennials now constitute the largest percentage of the working population. The new generation of upwardly mobile professionals want service on the go and a self-improvement classes and methods that are personalised or customised to suit their lifestyle and health needs.
The Internet is now a powerful tool for the self-improvement industry, as they have used it to sell, market and even conduct their seminars online. The self-improvement industry has seen an influx of mobile apps and other platforms to disseminate information.
Career coaching has become wildly popular in recent years and this may be due to the dynamics of the contemporary workplace. The demands of the digital age have resulted in a new set of challenges, and people are wondering if they are on the right path. They need personal coaching as opposed to group counselling.
In many ways, technology agrees with the objectives of the self-improvement industry, and this benefits people seeking help in diverse areas of life. These trends are a good sign that the self-improvement industry is not slowing down anytime soon.