#bumble | #tinder | #pof A slice of ‘sleeponomics’, Marketing & Advertising News, ET BrandEquity


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Small changes to sleep duration could have a big impact on the economy.

Brand Equity looks at the financial cost of being sleepless in Seattle or anywhere

Financial losses due to lack of sleep…

The US sustains by far the highest economic losses – up to $411 billion a year, which is 2.28 per cent of its GDP (in 2016)

Japan – up to $138 billion a year, which is 2.92 per cent of its GDP

Germany – $60 billion

UK – $50 billion
Lowest in global rankings is Canada – financial losses due to lack of sleep up to $21.4 billion, which is 1.35 per cent of its GDP.

Small changes to sleep duration could have a big impact on the economy. For example, if individuals that slept under six hours started sleeping six to seven hours then this could add $226.4 billion to the U.S. economy. This could add $75.7 billion to the Japanese economy, $34.1 billion to the German economy, $29.9 billion to the UK economy and $12 billion to the Canadian economy.

‘Sleeponomics’, a term used to describe the market of sleep (including but not limited to ‘sleeptech’ and sleeping aids industry), a booming space in our always-on, tech-fuelled age and increasingly wellness-obsessed times.

Japan ranks No1 in the world for sleep deprivation. Companies in the chronically sleep-deprived nation are now making napping on the job mandatory, going as far as providing blankets with hoods and other sleeping aids to employees. Indians are the second-most sleep-deprived people in the world.

“Inemuri”: The Japanese word for strategically sleeping in office. Roughly translated to “sleeping while present.”

In 2019, home décor brand Bombay Dyeing along with The Times of India launched #TakeBackSleep, a multi-media, national campaign to raise awareness about “sleep-debt”, the consequences of sleep-deprivation and the positive impact of healthy sleeping habits on all aspects of life.

Rise of ‘nap bars’ and ‘nap cafés’ in countries like Japan, Korea, and Canada.

¥750 ($6.90): The price of a nap plan (includes coffee and 30 minutes of sleep time) in a Tokyo café.
10,000 won ($8.80): Price of an hour and a half of nap service during lunch hours, in a cinema in Seoul’s business district, Yeouido.

7: Minimum hours of sleep you need to not be “sleep deprived.”

Over $101 billion: Projected size of the global sleeping aids market in 2023

Scientists have discovered that one percent of humans worldwide have a mutation in the clock genes that is associated with delayed sleep or being a night owl.

Sources: New York Times, Guardian, Washington Post, Quartz, RAND Corporation and Nature Neuroscience




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