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NEWS
The future of wellness: New report investigates changing consumer attitudes and behaviour in wellness market
POSTED 19 Apr 2021 . BY Megan Whitby
Better health was voted the most popular wellness dimension by respondents and experienced the highest level of spending across products and services in all six countries Credit: Shutterstock/Jacob Lund
A new report by McKinsey & Company reveals insights into shifting consumer attitudes and behaviour towards wellness across the globe.

The Future of Wellness Survey surveyed 7,500 consumers in Brazil, China, Germany, the US and the UK during August 2020.

Authored by McKinsey’s Shaun Callaghan, Martin Losch, Anna Pione and Warren Teichner, the report identifies six main consumers wellness interest categories:

1. Better health
2. Better fitness
3. Better nutrition
4. Better appearance
5. Better sleep
6. Better mindfulness


Better health was voted the most popular dimension and experienced the highest level of spending across products and services in all six countries. This can likely be attributed to the pandemic spreading a new sense of urgency about the importance of good health and wellbeing.

McKinsey expects this trend to continue as the emphasis on physical and mental health is going to last for a long time to come as a result of COVID-19.

Appearance was the second most popular spending category for every country – except Germany, which reported better fitness as most important after better health.

Findings also indicated that consumers expect to increase their purchases of both wellness products and services over the next year.

In particular, McKinsey is predicting a ‘greater shift towards services especially those (such as personal training, nutritionists and counselling) that emphasise physical and mental health’.

Major consumer growth trends in wellness

The paper highlighted six new consumer wellness-related growth trends:

1. Natural/clean products
Strong demand was found among consumers, especially in Brazil and China, for natural/clean products, ranging from skincare, supplements and cosmetics to subscription food services and sleep enhancers.

2. Demand for personalisation
All countries reported healthy demand for personalisation in wellness services and products, such as personalised supplement subscriptions or personalised advice for sleep, fitness or nutrition based on data from wearables.

3. Shift to digital
The pandemic has rapidly catalysed the shift to digital as more people seek to get their wellness fix without leaving their homes. McKinsey found that consumers in China reported the highest level of online spending for wellness products and services, followed by Japan, then Europe, the US and Brazil. Nevertheless, responses suggest that specific product categories such as fortified foods, multivitamins and skincare will still be predominately sold through in-person stores.

4. Influencers
The report labels influencers as a key part of the wellness market and findings showed that in the US, Germany, UK and Japan, 10 to 15 per cent of consumers say they follow social-media influencers and that they’ve already made a purchase based on an influencer’s recommendation. Furthermore, a much larger percentage say they definitely or probably will consider doing so in future.

5. The rise of services
The survey also highlighted a growing interest in services – including personal trainers, nutritionists and counselling services – that address physical and mental health needs. McKinsey sees services as a complementary facet of the wellness sector and stated that products will still remain a crucial part of the segment as they’re responsible for 70 per cent of self-reported consumer wellness spending globally.

6. Blurring category lines
Researchers drew on Lulu Lemon to highlight the new trend of companies offering a selection of services across the health and wellness categories and channels. The company recently acquired Mirror to supplement its clothing brand with a digital offering, alongside initiatives involving nutrition, mindfulness and in-person fitness offerings and classes.

Overall, McKinsey suggests the wellness market is set to continue experiencing continued growth and demand but advises both new and existing companies in the sector to think critically about strategies to engage consumers and continue to innovate to stand out from the crowd.

To read the whole report and access guidance from McKinsey about how to strategise in the wellness market, click here.
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News   Products   Magazine
NEWS
The future of wellness: New report investigates changing consumer attitudes and behaviour in wellness market
POSTED 19 Apr 2021 . BY Megan Whitby
Better health was voted the most popular wellness dimension by respondents and experienced the highest level of spending across products and services in all six countries Credit: Shutterstock/Jacob Lund
A new report by McKinsey & Company reveals insights into shifting consumer attitudes and behaviour towards wellness across the globe.

The Future of Wellness Survey surveyed 7,500 consumers in Brazil, China, Germany, the US and the UK during August 2020.

Authored by McKinsey’s Shaun Callaghan, Martin Losch, Anna Pione and Warren Teichner, the report identifies six main consumers wellness interest categories:

1. Better health
2. Better fitness
3. Better nutrition
4. Better appearance
5. Better sleep
6. Better mindfulness


Better health was voted the most popular dimension and experienced the highest level of spending across products and services in all six countries. This can likely be attributed to the pandemic spreading a new sense of urgency about the importance of good health and wellbeing.

McKinsey expects this trend to continue as the emphasis on physical and mental health is going to last for a long time to come as a result of COVID-19.

Appearance was the second most popular spending category for every country – except Germany, which reported better fitness as most important after better health.

Findings also indicated that consumers expect to increase their purchases of both wellness products and services over the next year.

In particular, McKinsey is predicting a ‘greater shift towards services especially those (such as personal training, nutritionists and counselling) that emphasise physical and mental health’.

Major consumer growth trends in wellness

The paper highlighted six new consumer wellness-related growth trends:

1. Natural/clean products
Strong demand was found among consumers, especially in Brazil and China, for natural/clean products, ranging from skincare, supplements and cosmetics to subscription food services and sleep enhancers.

2. Demand for personalisation
All countries reported healthy demand for personalisation in wellness services and products, such as personalised supplement subscriptions or personalised advice for sleep, fitness or nutrition based on data from wearables.

3. Shift to digital
The pandemic has rapidly catalysed the shift to digital as more people seek to get their wellness fix without leaving their homes. McKinsey found that consumers in China reported the highest level of online spending for wellness products and services, followed by Japan, then Europe, the US and Brazil. Nevertheless, responses suggest that specific product categories such as fortified foods, multivitamins and skincare will still be predominately sold through in-person stores.

4. Influencers
The report labels influencers as a key part of the wellness market and findings showed that in the US, Germany, UK and Japan, 10 to 15 per cent of consumers say they follow social-media influencers and that they’ve already made a purchase based on an influencer’s recommendation. Furthermore, a much larger percentage say they definitely or probably will consider doing so in future.

5. The rise of services
The survey also highlighted a growing interest in services – including personal trainers, nutritionists and counselling services – that address physical and mental health needs. McKinsey sees services as a complementary facet of the wellness sector and stated that products will still remain a crucial part of the segment as they’re responsible for 70 per cent of self-reported consumer wellness spending globally.

6. Blurring category lines
Researchers drew on Lulu Lemon to highlight the new trend of companies offering a selection of services across the health and wellness categories and channels. The company recently acquired Mirror to supplement its clothing brand with a digital offering, alongside initiatives involving nutrition, mindfulness and in-person fitness offerings and classes.

Overall, McKinsey suggests the wellness market is set to continue experiencing continued growth and demand but advises both new and existing companies in the sector to think critically about strategies to engage consumers and continue to innovate to stand out from the crowd.

To read the whole report and access guidance from McKinsey about how to strategise in the wellness market, click here.
RELATED STORIES
Until to launch high-end workspaces for fitness professionals


A new high-end workspace, designed for the use of personal trainers, coaches and other health and wellness professionals, will open in central London in November.
GWS report details top wellness trend predictions for 2021


The Global Wellness Summit (GWS) has unveiled its latest trends report containing its top nine wellness trends for 2021.
GWS panel predicts hottest wellness trends for 2021


A discussion panel about future wellness trends saw spa and wellness industry experts offer their take on what’s in the pipeline for the industry in 2021.
MORE NEWS
Belmond Hotels and Dior celebrate La Dolce Vita with pop-up spas in Portofino
Belmond Hotels has partnered with Dior for an exclusive new wellness experience in the gardens of its luxury hotel in Portofino, named Splendido, A Belmond Hotel.
‘Gratitude reduces stress’ finds new study
A recent research study has found that gratitude between team members can improve their performance in high-stress situations.
Stephan Wagner announces launch of Saudi Arabian Wellness Association
AlMaarefa University has announced the launch of the Saudi Arabian Wellness Association (SAWA), a new industry body established to promote, educate and develop the wellness sector in Saudi Arabia.
Mandarin Oriental ramps up fitness offering with Intelligent Movement programme
Luxury hotel chain Mandarin Oriental has launched a new brand called Intelligent Movement to deliver fitness and wellbeing interventions to guests. The aim of the programme is to help them overcome the impact of a modern, sedentary lifestyle.
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FEATURED SUPPLIERS

Take your spa to the next level with Spa Supply Solutions
Spa Supply Solutions has established itself as a global leader in procurement and supply for the wellness and spa industry by providing the most comprehensive services available on the market to the finest spa, leisure and beauty destinations across the world. [more...]

Zenoti’s top three strategies to maximise your spa’s social media presence
Social media is an integral part of our lives, with US adults spending 95 minutes on social media each day. For spas, social networks dominated by photos and videos – such as Facebook and Instagram – are ideal destinations to showcase your brand and picture-perfect services. [more...]
+ More featured suppliers  
COMPANY PROFILES
Unbescheiden GmbH

Unbescheiden GmbH was founded in 1869 in Baden- Baden, Germany [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

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About us | J Grabner GmbH
More than 30 employees have one thing in common with the company founder Josef Grabner: Their enthusiasm for nature in all its individual facets Find out more...
+ More videos  

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DIARY

 

12-13 Sep 2022

2022 Salt Therapy Association Conference

Wyndham Lake Buena Vista Disney Springs® Resort, Lake Buena Vista, United States
12-14 Sep 2022

Spa Life Ireland

Galgorm Spa & Golf Resort , Ballymena, Ireland
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
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LEISURE MEDIA PRODUCT SEARCH
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