GLP-1 medications, such as Ozempic, Wegovy, and Mounjaro, are revolutionizing how people allocate their budgets during weight loss journeys.
Over 400,000 Australians currently use these GLP-1 weight loss drugs, which can cost up to $5,000 annually depending on dosage strength and eligibility for subsidies like the Pharmaceutical Benefit Scheme.
Circana Tracks GLP-1 User Spending Habits
Market research firm Circana monitors household spending for GLP-1 users in Australia and conducts detailed analysis in the US.
US data shows a 2% decline in food and beverage spending during 6-12 months of GLP-1 use, with spending rebounding after discontinuation.
Pre-Existing Trends Among Weight-Conscious Shoppers
Circana Insights Director Daniel Bone notes that GLP-1 users often already spend more on food and beverages.
- 46% of Australians buy weight management products for themselves or household members.
- These shoppers spend 10% more in pharmacies on average.
- Grocery spending matches the general population, but shifts across categories.
"Just because you are focused on weight management doesn't necessarily mean that you are inherently spending less, it just influences how you are distributing your spend across product categories," said Bone.
Increased Spending on Beauty and Self-Care
GLP-1 users boost spending in self-care and beauty products, partly to address medication side effects.
