weight watchers keeps Thursday’s annual general meeting and a virtual event will be held Thursday night. With recently retired director Oprah Winfrey.is still cooperating with the company.
The event’s focus is on changing the way we talk about obesity and food culture thanks to a new class of drugs known as GLP-1, including Wegovy, Mounjaro, and Zepbound.
Since GLP-1 became available, the weight loss industry has grown from approximately $76 billion per year to nearly $90 billion in 2023. According to research by Market Data LLC, track sectors. There were also casualties along the way.
“Many retail brick-and-mortar weight loss centers have disappeared or closed over the past three to four years,” said John LaRosa, the group’s research director. “Weight Watchers used to have about 800 of these retail weight loss centers. Jenny Craig used to have 600 retail weight loss centers. Now, they have nothing”
But if you can’t beat them, join them. Weight loss apps like Weight Watchers and Noom Modified the model to incorporate new drugs into the program.
These adaptations could also help other areas of the weight loss industry, said Jenny Zegler, director of food and beverage at research firm Mintel.
“It’s a huge opportunity for food and beverage companies that offer dietary fiber, for example, that can mimic the feeling of fullness that these drugs provide,” she said.
And even though the drugs suppress people’s appetites, “there’s still a huge opportunity for food and beverage companies to offer portion-control options to consumers who want to incorporate these drugs into their diets.” ” Zegler added. “Or maybe they just need a treat, but they just need a little treat.”
These drugs have also affected the fitness industry and are now making an impact in people’s homes at gyms and through workout videos.
Connected fitness company iFIT is no different, addressing the use of weight loss drugs in its upcoming series “Muscle Maintenance.” Research has shown that GLP-1 may contribute to loss of muscle mass, and chief marketing officer Mark Phillips said interest in strength training is growing.
That’s why “We also create strength training content specifically for people on these weight loss programs. The key is to maintain muscle mass and feel good,” he says. Told.
Because it looks like these expensive drugs are here to stay, and we need to think about how to work with them to survive in the weight loss business.
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