All right, I see nodding heads. Fantastic. Buck McMurray. Ryan Napierski. Let's go you guys. Hey, listen. We are Buck and I, Ryan Napierski, CEO of Nu Skin Enterprises, sitting here with Buck McMurray, North America region president. Buck, this is going to be a good call.
Yeah. So, you know, I think we should take a few minutes to just kind of set up what we're trying to accomplish here, Buck. And you know we all know that here at Nu Skin we've been really diving into this global intelligent wellness movement and we've been pursuing this. You and I have been deeply immersed in this for the last year as we've prepped for Prism coming out. And the reality is that the world's shifting so fast in this space that we feel there's a need to really provide a forum for weekly updates with our team, all of you that have zoomed in on this, to really give you guys the latest global trends, the latest insights into what we are doing here at Nu Skin to capture those trends and then to provide you with actionable insights into those trends. And I appreciate we're really borrowing a movement that we kicked off over a year ago called MBSB.
Yeah. So, mind body spirit business where we started to just talk about personal development. And we've had a lot of these guys that I'm seeing on the call. Jeff Warberton's been running this for us, Frank Gibson, Charlie Patterson, Nick. We've had our Europe teams involved. But we want to leverage this platform and open it up and expand it to everybody who wants to participate that are interested in this massive global wellness movement.
Yeah. And how to capture it.
Yeah. With Nu Skin leading the way. And we're going to talk about that with Prism.io and what's right in front of us like literally right now. And then again, we want to bring on leaders, some of you as kind of guests in our live podcast forum to talk about what you're doing to win in this space. And so that's kind of the purpose here, Buck.
Yeah. You know, Ryan, I get so excited about this because we on a regular basis, we get to hear the success stories. And we get to experience them firsthand and we get to see them firsthand. But I think this is going to give us an opportunity so that everybody gets to see what's happening. There's a book that I read a number of years ago called Good to Great. And in that book, they talk about the flywheel, these big heavy wheels that take a lot of momentum to get going at the very beginning. And I feel like that's where we're at right now, where we've got this incredible innovation. We are positioned right. We're going to talk a little bit about where the market is going and what size of opportunity there is. But we're starting to see this flywheel start to spin and it's a responsibility among all of us to push that and get it going even faster than ever before. And this forum gives us an opportunity to share that energy and excitement across the globe. So my only challenge to everyone is every week promote this, bring people here, like have this be a part of your updates for your teams, your organizations, and let's start the flywheel spinning faster than ever before.
Let's do it. And by the way, if anyone, if you're on this call and you're thinking about, hey, I should be sending this call out to anybody right now, send them the link right now. Text them, tell them to jump on the call. We're going to try to keep this call to no longer than about 45 minutes. Dan McCormack, I saw you on there. I know your Saturday morning meetings. I hope this gives you more content to push all of you as you're working with your teams. The goal is to get you the information that you need to drive your business. But again, to take it down to an extremely actionable level. Here's what the call's not going to do. We're not going to be making any claims on this call. This is not a call where we're going to be talking about areas of disease or anything that's going to get us in trouble because frankly the opportunity is big enough the way it is.
And so this is what this is all about. So we want to just jump into this, Buck, and we're going to set it up. And by the way, one other thing we're going to do on this call is we're going to leverage a lot of AI throughout the call for all of you on the call. I hope you are diving into AI whether you're using ChatGPT, Perplexity, Grok, Gemini. Well, you're all using it whether you know it or not. Every time you use your Google browser you're now using Gemini. But we're utilizing AI to just get the greatest latest information up here. And so I was playing around with this this morning. And I want to share this because you've all heard us talk about Global Wellness Institute's report where they talk about a $6.8 trillion wellness movement that's taking place right now. Now, here's what's more interesting, right? So, when you think about trillions of dollars, by 2028, Global Wellness Institute projects that this is going to become $9 trillion. By 2029, they're projecting $10 trillion. Now, put that in the context. That's roughly half the size of the US, the world's largest economy in wellness, right? So, we're talking about products, services, aesthetics, beauty, we're talking about even travel and leisure, the fitness industry. That's a huge number. But when you actually interpret that number, so I dumped that number into ChatGPT. I said, 'Tell me, estimate for me how many new people are joining this movement every year. If it's growing by $1 trillion a year, how many people are joining this thing?' And it came back, and again, this is according to ChatGPT, 140 to 160 million middle class consumers are joining the wellness movement every single year. Now, put that in context. That is roughly half the population of the United States.
Nearly half the population of the United States. It's roughly half the population of Western Europe. It's what is that? Two and a half times the population of South Korea. It's twice the population of Japan. We're talking about entire countries joining the wellness movement every single year in some way, shape, or form. And that's like to me that's just huge.
Yeah. And you know the amazing thing that I've been on the road the last little bit in all these markets talking a little bit about why. And we know that fruits and vegetables are one of the number one indicators of wellness and health. And so I started looking at what percentage across the globe of individuals are eating their recommended levels of fruits and vegetables. And it's roughly, I look down in Latin America, you're like 6%, 8%. Argentina is 6%. Here in North America, you talk to the number of people or you look at the number of people that think they're living healthy, eating a healthy diet. 80% of Americans believe they're eating a healthy diet, but less than 10% are eating the recommended daily fruits and vegetables. And this is like the gap. The problem that we see is that we think we're doing well, but the majority of us are not. And that means we're not getting the levels of antioxidants and carotenoids that are going to allow us to live a meaningful healthy life. And so this I see is the gap. People are going to continue to go that way because they think they're doing well, but they're not. And that's why we're going to continue to see growth within this wellness movement.
Yeah. Yeah. I mean if you like double click on that. So, I was up in Seattle last weekend talking with another group that's kind of diving into this and it was interesting and we've all heard the stats before, but the comment from this other CEO, he said an avocado grown today has 1/120th of the nutritional content than if you grew and ate that avocado back in 1950 because of soil regeneration and the soil. So, even if you are eating that, the nutrient content of those goods have just decreased. But what I think's really interesting, Buck, about the point of what we think we're doing and what we're actually doing is fueling that second round of wearables, right, and intelligent wearables. And so again, Global Wellness Institute talks about $84 billion a year being, and by the way, that's growing to $136 billion a year over the next three years in wearables because people are interested again if there's that number of people coming in.
Yeah. But everyone has a misperception of what they're actually doing versus what they think they're doing. The wearable market. Again, whether it's a watch, whether it's a ring, whether it's a glucose monitor, it's all about actually understanding what you're doing and having the data behind it to back it up. Or to refute what your mind thinks you're doing.
Yeah, this is the crazy thing. So, I looked up another stat this past week and it said in the US alone, we're spending 40 to 60 billion dollars a year on supplements.
Yeah. So we think we're eating healthy. 460 billion globally.
60 billion in the United States. And so we think we're eating healthy, but at the same time we're like, man, I need supplements.
And so obviously as we come into this space where we're going to have wearables and all of a sudden we're going to be able to see what's our nutrition doing, how is our exercise, how are we moving, how are we sleeping, how are we resting. It's going to make that gap so apparent that people will be now empowered more than ever before to take the right types of supplements and to start moving in ways that are going to impact their health in a much more meaningful way.
It's huge. So as we think about this and by the way for those of you on the call, if you have thoughts or questions as you go, dump them into the chat here. We're going to try to get to some questions or some thoughts and we've got Jeff Nelka and Don Dorton here behind the fourth wall. So, we may have them screaming out some of this for us so we can dive into it. But as you're thinking through this yourselves, I'd love to make it more interactive so that you're not just listening to Buck and me on this because I know each of us have been turning on this. You know, Frank, I know I'm calling you out because you're like headlong into all these trends that are going on here, too. So if you have thoughts, dump them in there and we'll call some of those out. But to keep going down this path, Buck.
So again, so my friend ChatGPT, I think of ChatGPT as, and I don't want to get too far off track with AI, but ChatGPT, we're doing a lot with this at Nu Skin. We have an enterprise instance of ChatGPT. But I look at ChatGPT as kind of my personal R2-D2, right? So as Luke Skywalker's flying the plane, he's got R2-D2 in the back. ChatGPT's kind of that for me. So I'm constantly in the morning I'm interactive journaling with ChatGPT on my own personal development, on just trends that we're seeing in the business. How can we look at things differently? So as I was going down this wellness thing this morning a couple of other things that came out that I think are interesting to call out. One is again where are the, so if the growth is happening at a trillion dollars a year where are the biggest opportunities for growth coming from in that category? Here's what I thought was really interesting, right? So, it started with the product categories. So, it said the biggest ones that are coming up obviously sleep. So, we're all seeing like massive push on sleep, sleep scores, whether it's Eight Sleep, whether it's Oura Ring, Apple Watch, Apple Watch now tracks it. Even Garmin does it, but frankly, I get sleep anxiety because of it because I sleep so poorly. Energy, massive focus there. Weight management, of course. So, tracking BMI, tracking all of that, stress, and then the fifth one is cognitive performance. What's underpinning all of those product categories though is intelligence. And in other words, the understanding what we were just talking about having the ability to measure what matters.
Biofeedback. And so it was going through that and that was very interesting to me. And so then I went one more round and then like let's talk about that. So then I said, okay, so if this is massive growth, who are going to be the winners in the wellness game, right? So if we're playing a game, and again, it's whether you like Simon Sinek's infinite game theory, whatever. I like the idea of we're playing a game. The game is $9 trillion or 10 trillion by 2029. Massive growth coming in, 140 to 160 million people joining this. Who's going to win the game? Here's what ChatGPT came back and said. He said the winners will be those who close the loop. And then he goes into the future of wellness. Closing the loop is measure, interpret, act, and then verify improvement.
Yeah. Measure, interpret, act, verify improvement.
Now, so I look at this and I'm sitting there, Buck, saying, 'We've just introduced Prism.io.' Right. Now, we're not going to get in. I'm not going to disclose any data because we're publicly traded. I can't do that until after our release. We've just implemented the world's first non-invasive nutrition health score monitor with Prism.io that measures, interprets, acts, and verifies improvement. So exactly what ChatGPT is saying you got to do to win across sleep, energy, weight, stress, cognitive performance, and we translate to diet, fitness, lifestyle, and supplementation. But this is like exactly what ChatGPT is telling us those who are going to win in this nine to ten trillion dollar race over the next three to four years need to provide.
Yeah. And we're right in the space.
We're right in the space. And we've got the solutions. So when it says act, I interpret that as you have something to solution based off of that. So I mean with Prism, you're looking at nutrition, your behaviors, but then the supplementation. And to your point, you know, I think the avocado that is now the most common avocado across the world is the Hass avocado. Somebody just manipulated it and they're like, 'This is the best avocado.' But that's not how avocados normally work. But it's those companies or it's the individuals that look at that and say, 'Okay, I am going to eat more better.' And I think there was a study that actually came out of UCLA on the S3 scanner that said that this was not only is it accurate, but it said that it is the number one device in changing behavior. And so when it comes to nutrition, when it comes to the behaviors like sleep and stress and exercise, and on top of that supplementation, this is the perfect device to help people take the action and start seeing the results that will help them improve their lives, to help them look, feel, and live better.
Yeah. No, it's pretty interesting. And maybe segueing a little bit into something that's coming here in the next couple of weeks. We've got Dr. Joe Chang. We all know Joe. Joe has been our chief science officer here at Nu Skin for more than 25 years. I think he's going on 26 right now. He leads our scientific advisory board now, chairman of our scientific advisory board, New York Times bestselling author. Joe wrote a book back in 2011 called The Aging Myth. Which, by the way, we should have Joe should have trademarked and patented and whatever concept in that book. Because I went back and read it while he's, we're re-releasing this in the next couple weeks. I think February 5th, this book's coming out. Three new chapters being added to it on everything we're talking about. I mean the power of NAD+ which he'll get into. You got to read the book. It's going to be the ebook. You can download it on any of your platforms. We'll have Joe on this podcast here. I just did a podcast that's dropped. It's on Empower podcast if you haven't listened to that yet with Joe. We've got Joe coming on. But when I was rereading that book, it was fascinating to me. The concept in the book that I think is absolutely paramount in this global wellness movement is the concept of lifespan versus healthspan.
And again, that term healthspan, you've heard it all over the place now.
It's everywhere, right? It's every single wellness podcast. Like the most significant influencers in the space whether it's Huberman, whether it's Bryan Johnson, all these guys are talking about the quality of the years lived versus the quantity of years lived is really the focus now. And we're having an expanded, you know, as longevity occurs, right, people are factually living longer than we did a hundred years ago, more than 20 years longer now than 100 years ago. And that's going to continue as healthcare, as improvement, as biotechnologies occur, even this movement going on we're just living more healthy. I mean I don't know if your dad did, did your dad work out every day? Did he measure his macros? No. Did he wear wearables that track? Mine didn't either. He would pump some iron. My dad would get up there and he'd get to 25 pounds. I'd wake up to him. But it's because of all that we're living longer. The problem is our sedentary lifestyle, literally white collar work. We're not working in fields. So, our bodies have less stress oxidatively, but we're getting massively, as we're living longer, we're having to take care of ourselves. And so, this idea that Joe talked about in 2011 of improving your healthspan as our lifespans improve, I think this is just like it truly is revolutionary at the time. Now it's become mainstream. Everyone understands the quality of the years we live are as important, frankly more important. I would rather live 70 years of high quality than 80 years with 10 years of terrible quality.
But if I could have both and live 80 years and have 79.5 years of high quality, that's what we're all shooting for, right?
