Self-improvement is the goal of everyone in some way. Some people might put more emphasis on self-development than others, but ultimately the primary goal of humanity is to be a little bit better tomorrow than today. There are a variety of methods for personal development, which in this information age makes it easy for everyone to do.
A Successful Industry
Up to $500 million is spent on personal development products every year.
Including market segments from holistic approaches, motivational speakers, inspirational websites, personal coaching, and other forms of personal development, the net worth of this industry is estimated to be almost $11 billion. This market is also beating global economic trends as it is averaging over 5% growth each year.
What is the Focus of Personal Development?
1. Women utilize the personal development industry much more than men do.
2. Over 13 million books that focused on personal development were sold in 2007.
3. The first personal development book was written in 1859 and it was simply called Self Help.
Takeaway: Although one could say that personal development statistics show that women are insecure about themselves, the real takeaway is the societal approach toward gender. Women are expected to be perfect, photoshopped, and meet specific standards of beauty in order to have self-worth. Men are held to a much lower standard. Because of this message, it is only natural that women would look toward how to improve themselves more than men because more women are made to feel inferior about themselves by society itself.
Other Personal Development Statistics to Consider
1. Over $1 billion in revenues is generated by this industry every year. It had grown in every year except for 2008 when a 5% drop in sales was experienced.
2. The largest sector of this industry are the holistic institutes and personal training centers that offer personal and professional growth tips, accounting for almost 50% of total revenues.
3. Infomercials provide the biggest sales venue of products for consumers to purchase within this industry.
4. Brian Tracy runs an organization that helps coach sales and personal development techniques that grossed up to $30 million in revenues every year.
5. The primary demographic of the personal development industry are middle-aged women who have large amounts of discretionary spending money.
6. Deepok Chopra made $1.3 million through a book and speaking tour that promoted one primary technique: to take responsibility for your own actions.
Takeaway: Personal development sells hope for a brighter future. There really isn’t a price tag that can be placed on happiness and if personal development can bring happiness, then so be it. Although some of the foundations of personal development might seem like common sense, not everyone grew up in an environment where common sense was taught. This industry might not be for everyone, but it certainly does help some people and for that, the benefits are ultimately priceless.