The wellness market continues to grow thanks to consumers who place more and more importance on their health.
The acceleration of e-commerce during the pandemic, the great attraction of apps Fitness-related mobile phones and the growing willingness of consumers to share personal information with brands combine to make wellness highly connected and personalized.
People are increasingly aware of the importance of physical and mental health. According to a McKinsey survey of 7,500 people, nearly 80% of respondents in Brazil, China, Germany, Japan, the United Kingdom, and the United States think wellness is important. In fact, consumers in all the markets studied said that wellness has become a much higher priority in the last two to three years.
Personalization. McKinsey research also indicates a marked shift toward personalization in the wellness industry. In health, fitnessnutrition, appearance, sleep and awareness, consumers, particularly in Brazil and China, are increasingly willing to interact online with companies and to share personal data in exchange for services, recommendations and treatments.
Blurred categories. Because of this, vital signs trackers are becoming more and more personalized. By tracking a user’s fitness and sleep they can provide personalized advice. Those devices typically span multiple product categories. Still, many consumers do not want a single company to solve all facets of wellness for them. This suggests that a more effective method for companies could be to expand their brands, perhaps through mergers and acquisitions.
chair gymnastics. Quarantines, stay-at-home orders and social distancing forced even the most gym-addicted to change their routines. Consumers found ways to exercise at home using connected equipment or joining outdoor fitness classes. In fact, about 10% of the American population has set up home gyms or accessed classes online during the Covid-19 pandemic