Self-Care For All: How Retailers Are Bringing The $4.2T Wellness Industry To The Masses

The wellness movement has been criticized for being out of reach to those who need health and wellbeing services the most. Here’s how retailers are changing that.

Everyone is trying to tap into the $4.2T wellness economy.

A host of new players — from big-box retailers to drugstores — are looking to wellness to boost their bottom line.

 
Not to mention big tech’s push into wellness, from digital wellness initiatives to health-focused voice skills, and more.

Here are 3 major opportunities that brands and retailers need to be thinking about in order to capitalize on the booming wellness economy.

1. Wellness goes mass market

The wellness industry has exploded in recent years, with startups offering products ranging from $200 serums to $4K treadmills.

Many of these buzzy products and services are positioned as premium offerings, making them too expensive for the average consumer.

More broadly, there are concerns about the accessibility and affordability of wellness beyond the privileged few. In a nutshell, the wellness movement is not accessible to those who need health and wellbeing services the most.

But as the space expands, wellness is increasingly being aimed at a much broader population — so the industry is shifting from luxury to mass market.

For example, Walmart recently announced that it would be launching Bobbi Brown’s new wellness line in 1,500+ stores and online, where products will retail between $10 and $20.

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Self-Care For All: How Retailers Are Bringing The $4.2T Wellness Industry To The Masses

Πηγή: cbinsights.com