A different kind of slimdown... is happening at WW — formerly known as Weight Watchers. WW expected an uptick in dieting this year, as people emerged from hybernation and planned for #hotvaxsummer. Turns out, it was WW’s sales and subscriptions that slimmed down last quarter. WW shares plunged nearly 30% after yesterday's earnings.
Loose-fit jeans = the new sweatpants… Summers are typically WW’s worst season, but this year WW expected a pandemic glow-up moment. That didn't materialize: despite the national reopening, WW’s sales fell 7% last quarter from last year. Although four in 10 people in the US gained unwanted weight during the pandemic, they’re not in a hurry to lose it.
- Serving up connection: People are more focused on reconnecting with friends than toning their beach bods. Spending at restaurants and bars hit an all-time high in May.
- Health, on your own terms: Consumers didn’t abandon wellness, but they prioritized convenience. Health-focused companies like MyFitnessPal and HelloFresh added millions of users. And Atkins and SlimFast saw a boost in sales of their pre-made diet foods.
Read the room... to reap the profits. After a year of pandemic restrictions and routines, consumers want options, experiences, and flexibility — not strict regimens and daily cauli rice. Companies that are responding to these demands are reaping benefits: Levi’s sales more than doubled last quarter as it leaned in to baggier jeans and "balloon pants."