2021 was a year of recalibration on multiple levels. The pandemic has led so many of us toward deeper inward reflection around what matters.
Meaningful, purposeful living, mental health and fulfillment are more important than ever before. Months, if not one year or more, of isolation have placed social connection and family bonds at the forefront. A deeper sense of duty toward the environment, the planet and humanity as a whole has also emerged.
Consciousness is on the rise, as is the conscious consumer.
A new breed of ethical, health-conscious consumers want to feel that they are making choices with impact. These consumers look beyond the brand recognition and shiny labels. They want to know how and where raw materials are sourced, what their products are made of and whether the manufacturing process is sound. Companies engaged in social responsibility undertakings garner special attention from these consumers as concerns around sustainability and the environment grow.
Consumers are more empowered than ever before. Health is a non-negotiable priority and reputation is everything. More and more consumers are choosing mindfully where to invest their money. Such purchasing behaviour is set to become more prevalent, particularly in the health and wellness industry.
Each day, millions the world over continue to be infected or impacted by Covid-19. There are disruptive societal and economic changes shaping how healthcare is defined across the globe, while governments and consumers alike are awakened to the benefits of preventative care in relation to overall health.
A Nielson IQ study shows that health-conscious consumers are heavily influenced by the desire to live a longer, healthier life. These same consumers are also impacted by the need to look and feel better post lockdown, all the while being swayed by social media and the burden of rising healthcare costs.
Across all retail sectors, consumers expect businesses and governments to play a more active role in their health and wellbeing journey. These consumers have high expectations for companies to produce in clean, simple and sustainable ways, while additionally offering altruistic benefits, that “give back” in some shape or form. Issues pertaining to the environment are especially top of mind as the health of the planet is prioritised alongside overall wellbeing.
The Nielson IQ study highlights health needs in terms of a basic framework that is protective, preservation-focused, aspirational, evolving and altruistic in nature. This framework is fluid across consumer segmentations, geographic regions, key demographics, cultures, and categories.
There is no question that as the ecosystem of health and wellness continues to evolve, the industry will bear witness to a wide range of influencing factors that will shape and shift the health-oriented consumer journey.
While we expect to see changes in health priorities across the wide spectrum of consumer needs, there is one aspect of health and wellness that is primed for immense growth. Beyond profit, the future of health-focused products will revolve around people, the planet and sense of purpose.
To consumers, health is everything and everywhere, and companies that fail to address this fully will inevitably fall behind. The relevance of health and wellness is now broad enough to bring opportunity to nearly every consumer product in the world.
Companies can no longer afford to ignore how consumers engage with their selfcare as they become more proactive, mindful and motivated by wellbeing.
Each of us has an important role to play in the health and wellness ecosystem. Looking ahead, companies need to be flexible, yet focused, on the changing needs of consumers. This means challenging current definitions of health and wellness and staying in close contact with this fast-changing landscape. Maintaining an accessible, personal touch in this highly digitised information age without compromising the quality and efficacy of affordable products that meet altruistic needs is key.
And finally, authentic, total transparency, combined with consistent, unobstructed delivery on all promises, will help to forge the bonds of trust.
Truth always prevails.
Nancy Zabaneh, wellness expert, founder of Darshan and Kundalini Yoga Teacher Trainer
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