Holistic consumerism is on the rise and its consumers are searching for the perfect blend of a healthy mind, body, and soul. According to the Global Wellness Institute, the wellness industry is now valued at 3.72 Trillion and Women’s Marketing Projections reports the the wellness market space is dominated by these three verticals:
- Beauty and Anti-Aging Product at $999 Billion
- Fitness and Mind and Body Exercise at $542 Billion
- Healthy Eating, Nutrition, and Weight Loss at $648 Billion
So there’s a lot of money being focused at these consumers, but who are they? Well, first it’s important to identify the consumer’s expectation to deliver a relevant and impactful experience. In a digital sense, holistic consumers expect to be connected across their platforms and devices. Industry experts from the beauty, fitness, and food industries are all looking to this opportunity. They’re implementing smart data capture and creating effective presentations of captured consumer data.
Take Under Armour for example. Under Armour has built a client base who embraces their digital presence by promoting product education and encouraging brand engagement. Reviewing their eCommerce landscape, the Under Armour team has implemented best practice features (rich and educational product detail pages, informative ratings and reviews, and supportive sizing guidelines). While not reinventing the wheel, they continue to make steady progress as they build out their digital presence.
The beauty industry is the largest vertical within holistic consumerism and the industry experts are not shying away from using data and technology. L’Oreal Paris has collected dozens of product attributes to overcome their industry challenges. This data capture resulted in over 1.5 million personas for their make-up offering. Their online experience is evolving as one for both problem solving and for increased product awareness.
In 2013, L’Oreal began research to better understand the expectations of their consumers in regards to sustainable development within the cosmetic industry. As of 2015, 66.6% of their brands had participated and identified a sustainable innovation road map towards holistic betterment.
Lastly, there’s be a shift towards holistic nutrition. Blue Apron in particular has taken the food industry by storm. Their team has implemented best practices as they brought the brand to market: identifying a need, distributing how to content, engaging in direct to consumer delivery, promotion of helpful video content, communicating effective brand awareness, efficient cross-channel marketing (eg. Spotify).
Their content marketing approach has set them apart from other players in the space. The team creates and heavily promotes content to communicate product ingredients, evolution of the dish, and other informative insight into the upcoming “meal.” By creating excitement and buzz prior to a recipe release, they are creating emotional and personal connections to a dish.
Good health and quality of life today go hand-in-hand, and the proof is in the numbers: according to Forbes, this established correlation has generated a $1.2-billion-dollar wellness market that is continuing to grow.
Marketers, are given an opportunity on this thriving industry with strategic message and deliberate brand communication. Consumers expect for goods to have 0% risk and 100% benefits. For brands, massive considerations are coming into play when assessing brand communication, product education, product development, ingredient transparency, and visible benefits/long term impacts.
Want to learn more? Download our white paper on holistic consumerism here.