wellness industry

The Future of the Wellness Industry

The concept of wellness has existed for hundreds of years. However, the landscape has changed from VHS workout tapes and fad diets to a global wellness industry worth billions of dollars. But what does the future look like?

Wellness: Consumer Insights

Around the world, people are putting physical and mental health first, and in one survey, 42% of respondents said that wellness was their top priority. The wellness industry continues to grow massively, and people recognise wellness over several categories, including:

  • Better health – fitness trackers, supplements, apps, and other new technology helps monitor symptoms of physical and mental health conditions, as well as general health and wellness, giving people more control of their well-being. 
  • Mindfulness – mindfulness has grown in popularity in recent years and has become more accessible through meditation apps. People have stated that they want to prioritise mindfulness more in the future and want more mindfulness products. 
  • Sleep – sleep plays a huge role in our mental and physical health, and thanks to the development of technology such as sleep trackers and smart watches, people have better insight into their sleep hygiene. 
  • Nutrition – nutrition is a vital part of wellness, and many people reported that they would be willing to invest more in nutrition apps and subscription food services over the next year. 
  • Fitness – health and fitness go hand-in-hand, and more people are putting fitness at the forefront of their well-being. Brands are getting more creative with their fitness offerings, tailoring their approach to customers depending on whether they want at-home workouts or prefer a gym experience. 

Future Trends

So, where is the future of wellness going? Insights have revealed that several key areas are projected to grow over the next few years, providing many avenues for growth and expansion: 

  • Personalised products – personalisation is key in the current market, with 78% of consumers saying they are more likely to return to brands that personalise their experiences. This trend is projected to continue as more consumers value services and products that provide direct feedback, such as a fitness tracker providing personal insights and suggestions on where to improve. 
  • The rise of services – more consumers are prioritising services to improve their mental and physical health. For example, more people are seeking counselling services and personal trainers to improve their overall health and well-being. 
  • Influencer marketing – while already popular, influencer marketing is set to explode in the future as social media platforms continue growing. Social media has a lot of power, and brands can expand their reach by partnering with influencers within their niche to get in front of more people. 
  • Digitisation – digital channels are projected to become more critical than ever for consumers, with e-commerce growing faster than any other channel. Digital offerings and in-person, physical products can help brands expand their offerings and cover all markets and audiences. 

Another trend set to emerge for all industries is a shift in cookies and tracking. Google announced changes in 2020 and is still working on phasing out third-party cookies, changing how marketers provide targeted adverts and use the data gathered from consumers. Although this will not be the end of tracking and data gathering, it will mean that brands and marketers will have to look to new ways of gathering data from their customers.  

What Does This Mean for Your Healthcare Brand?

The healthcare and wellness industry is continually growing. As more people look for different ways to care for themselves, healthcare brands are in a perfect position to share their expertise and attract new customers. Taking into account new trends and future predictions, there are several strategies your brand can adopt:

  • Different targeting approaches – Google is working to phase out third-party cookies by the end of 2023, making targeting audiences different. Currently, cookies track users across the web, helping brands deliver a targeted experience depending on their behaviour, but without them, personalisation will change. Are there different ways to personalise your content and marketing approach to your audience? 
  • Greater personalisation – how can you add a more personal touch to your marketing or services? Evaluate your current approach and identify ways to segment your audience to increase personalisation and engage consumers better.
  • Evaluate your products or services – as people prioritise digital offerings and services, take a step back and review what you’re offering your audience. For example, if you are offering face to face counselling or therapy services, could you expand into digital services to make your practice more accessible to those looking for remote options? Alternatively, you could consider creating courses to add value to your audience. 

As more people continue to put their well-being first, the audience for healthcare brands continues to grow, and more opportunities to connect with people who want to invest in themselves and their mental and physical health are created. 

The future of the wellness and healthcare industry is bright. Contact Mint. Creative Marketing today to learn more about how we can help you get ahead of the game.

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