Sleep has become a big business opportunity for beauty as the merging of wellness and beauty continues. Glossy reports that “An estimated 75 percent of America’s workforce is suffering from chronic sleep deprivation, and the worldwide sleep aid market is expected to reach roughly $31 billion by 2025.
However, millennials have a particular penchant for staying home and a love for their beds, creating a new highly lucrative demographic of young women who stay home, in bed, becoming ground zero for what is being called the homebody economy. A January analysis of 10 years’ worth of the US Bureau of Labor Statistics American Time Use Surveys showed that millennials spent 70 percent more time at home than the general population.
An entire economy is being built around these millennial homebodies, consisting of clothes and home goods and streaming services and courier apps and millennial-friendly zero percent APR financing for luxury bedding.
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