March 2, 2017 - So far this new diet season is starting out strong, judging by results posted by Weight Weight Watchers and NutriSystem. The economy continues to grow and the Winter weather was not severe--allowing dieters to get to those weekly meetings. Oprah is pitching for Weight Watchers. A rising tide is lifting all ships, as they say. In addition, we think that the fitness and diet apps craze (i.,e. My Fitness Pal) was overblown, has waned, and people are realizing that they do need some personal hand holding and motivation, not just an app with no voice.
NutriSystem sales were up 18% for 2016 and Weight Watchers stopped the bleeding, with higher attendance, beating consensus estimates and seeing its stock soar on the news. As a result, Marketdata analysts estimate that all commercial diet companies generated revenues of $2.77 billion in 2016 (up 4.8%) and we expect a 9.4% gain in 2017 to $3.03 billion. This is based on more double-digit growth at NS and 7.8% growth at WW, plus moderate growth at Jenny Craig and Medifast.
High protein diets and ketogenic diets are the new rage, and Ideal Protein medical clinics are booming.
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