Over the last 18 months Britain has experienced a wellness boom, influencing everything from the way consumers work, dress and socialise to how they travel. The concept of health and wellbeing is influencing myriad sectors, including technology, entertainment, hospitality, food & drink, fitness and fashion, with 2016 set to see the wellness sector reach the £30bn mark.
Food, drink and kitchen-related gadgets have seen the biggest shift in the past 18 months, with over 1,000 new products added to supermarket shelves since the start of 2016. Earlier this year, Mintel revealed sales of kitchen gadgets alone have soared 41% in the last five years, totalling almost £900m. But how can brands attract and keep customers during the ‘wellness revolution’?
For online brands, in particular, the ability to tap this market can reap numerous benefits. The agile nature of selling online allows brands to respond to the market just as quickly as it grows and evolves. Not incurring base costs ie rent, rates, utilities, labour/staffing and store fit-outs also allows pricing to remain competitive, while instantaneous customer insight and product performance keep the brand nimble and adaptive.
Product is also key. It’s essential buyers have their ears to the ground when it comes to emerging innovations, making relationships with suppliers even more important. The wellness market is moving very fast - meaning growth and revenue are best achieved leading the pack rather than following it.
Secondly, know your customer. With the proliferation of content, ideas and opinions toward wellness have shifted in a number of ways. Perfection is out and balance is in. Too many brands focus on the market with single or niche products. The real winners are the brands that keep the ‘lifestyle’ element at the core of their strategy.
Lastly, retailers - particularly pure e-commerce players - need to stand out if they are going to cut through the noise and build brand loyalty. Whether this is through innovative products or brand experience, it’s important to stand for something.
Mark Januszewski is CEO of Designer Habitat
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