Site icon MBK Fincom Sa

Latest growing product trends: the Wellness and Care macro-sector

wellness care benessere fitness salute estetica MBK fincom ProduceShop

Despite the setback represented by the Covid19 pandemic and countless closures, this specific product sector has seen unexpected growth over the past year. From the decrease in aesthetic needs (lockdowns and masks), to the increase in awareness; the growth of the Wellness and Care market shows us that people want to feel good and look better.

Wellness and Care is a macro sector that encompasses many types of products and services. It is a heterogeneous whole, almost as heterogeneous as the public of consumers concerned, which includes many areas of individual health and beauty, often far apart in concept or method. In any case, this is a very broad catchment area, which has seen a considerable boost in recent years, thanks also to the liberalisation of specific social issues and habits. This has meant that, in every two-year period, marketing and commercial trends have undergone small internal revolutions, based on the integration of services and articles

MBK Fincom offers various options in this area on the ProduceShop platform; hence the interest in studying the main marketing and market trends, also with a view to setting up suitable strategies and providing guidelines on the reference niche.

Studying trends

The growth of the sector also in eCommerce has allowed a more detailed and dedicated monitoring and data collection; the classic Google analytics, for example, already constitute an adequate means of getting an idea of the trend (based on the relevant domain). In addition, by integrating research with internal software and tools, and surveys addressed to customers themselves, the picture that can be painted is more complete and clear.

Basically, we have examined the market trend over the last three years, the most significant in terms of flows, with a margin of prediction for the coming year.

First of all, a segmentation is a necessary step; The Wellness and Care sector can be divided into 6 specific dimensions. Each has very different flows (which is why we have spoken of a heterogeneous market); the results we bring are the weighted average of the incoming data with the most considerable volumes. These are health, fitness, nutrition, physical appearance, sleep, mindfulness.

Wellness&Care: Segmentation of the market
Wellness&Care: Segmentation of the market

An interesting fact concerns the priority that users give to the sector; almost 80% of those we heard from believe it is something important, while more than 40 (42%) think it is a top priority.

Finally, since we are talking about a sector that includes both products and services, the division of user spending; based on the turnover of the last 3 years, we predicted a division of 70% on products and the rest on services.
This is an important indicator for distributors; not only does it make it easier to plan their catalogues, but it also allows them to move appropriately with regard to their service-related strategies.

Types of users

Interestingly, there is a parallel between the Sports and Fitness market and the Wellness one (in some ways related): there is a high degree of social identification in consumer groups.

The users of this sector can essentially be divided into five consumer and behavioural groups:

  • enthusiasts: these are ‘hyperactive‘ users, who do not just buy products and services; they follow the brand (often linked to a lovemark), interact with it via social or campaigns;
  • socially responsible: this is a group of users who spend a lot but not on quantity. They are usually linked to the quality of the product, which must respond fully (or as much as possible) to their (social and ecological) vision;
  • price-conscious: with an eye on quality, they prefer to compare different products and rely on the most attractive price, also looking at savings;
  • loyalists: tied to their habits (and repeated purchases), as well as to a specific brand, from which they find it difficult to move away;
  • passive participants: marginal consumers, who do not participate in the brand’s activities but sporadically buy products from the sector.

The first two categories are those that represent the largest turnover; the first for the quantity of expenditure, the second for the less full but qualitatively better shopping carts.

Finally, crucial is the geographical analysis of users, with due localisation of strategies; if in fact areas such as Europe and Latin America are unexpectedly similar, the United States and Canada, for example, differ significantly in the segment’s purchasing behaviour.

Product categories

Excluding all pharmaceutical and cosmetic products, as well as those linked to the food industry, the core of our analysis was both products and categories reserved for the B2C market, and solutions for professionals in the various sectors.

We are talking, for example, about furniture for beauticians and beauty specialists (manicure tables, hairdressing trolleys, headrest washers, electric files, make-up stations), as well as for the para-healthcare sector (massage beds, podiatric chairs, orthopaedic chairs).

Finally, a whole range of products suitable for the individual (electric massagers, massage chairs, fitness equipment – treadmills, SPAs).

Wellness Products

The most hype Wellness and Care trends

Starting with the categories and individual products, and based largely on customer feedback, we have drawn up a list of industry trends, but mainly related to marketing. This was done in order to design a UX strategy that would lead to new catalogues that are increasingly tailored to customer needs.

Among the most notable trends:

  • personalisation: this is a trend that can be seen in several sectors. Customers nowadays demand a high degree of product customisation, which is why most brands try to offer easily customisable products;
  • digital integration: the shift in focus towards mobile dynamics means that many everyday processes depend on smartphone/product interaction. This is why many items (massage chairs, electric massagers, etc.) are designed specifically to interact with digital interfaces;
  • inclusivity and male-segment: if Wellness was once a sector linked purely to the female market (especially as regards cosmetics and natural products), today everything is being redesigned to fit into more inclusive dynamics. By selling the experience and not the result, it is possible to turn one’s attention towards a mixed market, which does not exclude social subgroups;
  • influencing: as in almost all sectors, the position of influencers, for users who live the social side actively, is basic. Working on own authority with dedicated figures can be a means not to be ignored;
  • product-related services: in the context of multi-channeling, integrating the sale of a product with a related service has proved to be a winning move in recent years. Follow-up dynamics, especially in a phygital key, manage not only to involve the customer, but also to give him/her a justification for tying to the brand;
  • sleep and relaxation: a segment increasingly driven by today’s life dynamics, which focus on “social exhaustion” as a positive value. Taking care of sleep and relaxation is becoming a top priority for the sector, which generates new products and services every year.

In conclusion

What emerges from the market analysis, is that the operational conclusions can be twofold: work on strategies that involve consumers, invest in the Customer Experience.

In a sector where the user not only feels a great sense of belonging, but also has a high degree of identification with the brand, and prefers to integrate products and services in a multi-channel perspective, implementing CX-oriented strategies can lead to very high levels of loyalty. In addition to saving on retention costs, you create a band of loyal users who spend consistently and aim for quality shopping carts.

Sources:
  • Corporate PR
  • Produceshop Marketing Dept. (https://mbkfincom.com)
  • Shopify
  • DataBridge Market Research
  • SemRush
  • Euromonitor
  • McKinsey
  • Forbes
  • Vogue France
Share
Exit mobile version