Wellness is a $4.2 trillion global industry.
The market is positively booming and if you are a new brand with a cool idea about health and wellness, there is no better time to get involved in this space. However, because it is so huge and there is so much on the market, consumers are becoming increasingly sceptical, and rightly so. More and more influencers and brands are getting in trouble for sharing misleading or entirely inaccurate information about health and wellness. Advertising Standards Authority and Google are also both cracking down on information and campaigns that mislead consumers.
The demand for wellness products is growing, but so is the demand for credibility and evidence-based information. If you are a brand or retailer, there is a level of responsibility that comes with choosing to stock or promote a wellness product, particularly if it carries bold claims with it.
So what should brands and retailers be thinking about?
Is your information scientifically accurate and evidence-based?
Does the product make bold claims and are these backed up?
Have you consulted qualified individuals with regards to health/nutrition information?
Is there any way that this product could mislead consumers?
Is this a product that consumers actually need?
Are you actually helping/benefitting consumers with the product?
Are you being responsible by promoting/selling this product?
If you can answer yes to most of these simple questions then chances are you are doing things right!
In addition to being responsible and accurate, developing/selling a product that is actually interesting to consumers and will sell is another important challenge. These days it is all about the “Instagrammable” products that look fresh, modern and unique and make consumers want to share them on social media. Much of this market is driven by the 18-30 group who enjoy spending their cash on cool food, drink, health and beauty products.
So what are some cool trends for 2019?
Functional ingredients: just being healthy isn’t enough anymore, consumers want more from their products. CBD is set to be a big trend for this year.
Colourful foods: bold, unusual colours draw on the “Instagrammable” trend. Blue lemonade, purple potatoes, unicorn smoothies.
Plant milks are still popular and here to stay!
Fancy learning a bit more about how to meet consumers’ demands in the wellness market in an ethical and responsible way? Join us for our panel on wellness at the Farm Shop & Deli Show on the 9th of April, 2019. Titled: Healthy Food, Healthy Profits, “Wellthy” Consumers, we will be discussing how to meet this growing trend the right way.
Check it out here, we hope to see you there!
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