Yoga

Health Is The New Wealth | The Future of Health, Fitness & Wellness

The Health, fitness & wellness industry (HFW), which includes the likes of nutrition, fitness, beauty and rehabilitation, has always been big business. Globally it’s worth around 4.2 trillion dollars and has no indication of slowing down. It’s forecast that by 2022 the average consumer will spend approximately £487 per head annually on wellness alone.

With HFW continuing to soar in 2020 we’ll see major shifts, with the influence of the fashion industry making an impact on fitness with athleisure and lifestyle brands, wearable technology and the food industry’s heavy focus on clean eating and subscription boxes.

When did it all start to shift?

In 2007 Fitbit launched the first health wearable and 8 years later in 2015 Apple jumped on board and introduced the Apple Watch making it a premium product that has since redefined fitness as a lifestyle status, whilst also holding the consumer accountable for their own personal health and fitness goals.

Also in 2010 Instagram launched and propelled the HFW industry with a heavy emphasis on trends in fitness and beauty. From here the influencer was born and personal brands such as Ella Woodard (Deliciously Ella), Joe Wicks (The Body Coach) and Sam & Nic Chapman over at Pixiwoo showed that the average person can lead a healthy lifestyle while looking and feeling great in the modern world. It also goes to show that if you put your own spin on something bound to make your mark!

All generations have jumped on board and now even my mum (who’s 60) wears a Fitbit and follows her favourite middle-aged influencers to keep her motivated and inspired.

Health Is The New Wealth

In this day and age, the average consumer can pretty much buy whatever they want, when they want it with the help of credit, overdrafts and loans. What was once an aspiration to own an Audi or purchase the latest iPhone, is no longer the financial strain it once was nor is it the indication of status alone. Keeping up with the Jones’ has a new meaning.

As humans, it’s our nature to be understood and heard. Brands continue to play a major role in the drive of people’s desires and aspirations even though the HFW space is a noisy and crowded one there’s a brand for every individual’s needs and wants.

Innovation is the driving force

With the rise in Athleisure wear such as Fabletics, Lululemon, & Under Armor people will happily pay £100+ on a pair of gym leggings and £60 on an elegantly designed water bottle. Consumers are shopping organic and shifting to ethically responsible diets such as vegetarianism or veganism. People can still enjoy a gin and tonic without the alcohol, be part of a gym class in the comfort of their own home, see doctors online, meditate while commuting and are able to get their hands on the latest beauty treatments personalised to their needs, straight to their letterbox. And now more than ever men are spending £100 million a year globally on skincare (Mintel).

Technology is determining how we live our lives both mentally and physically. Health apps, wearable technologies, fitness equipment that personalises your workouts for you are the growing trends. 

Every industry is making a conscious effort to cater to the health and fitness demands of the consumer and the consumer desires status and importance by the means of their health.

Where does this leave the Health, fitness & wellness-prenures?

As a creative strategist & designer to the HFW space, many of my clients both big and small have come to me with concerns. Personal trainers and nutritionists have expressed that some of their clients have left them for an app due to convenience, salon owners have asked how they can offer value and position themselves in an overly saturated market and holistic therapists are struggling to speak to the wider audience.

The truth is you can throw as much money at marketing as you like but if what you’re putting out to your audience isn’t of value to them, lacks consistency and doesn’t show ‘your’ unique spin on a product or service someone else will. The consumer is looking for a tribe to join, they want to feel unique within a thriving community who understands them. This ladies and gentlemen is the magic of branding

No matter how small your business is, getting your brand right from the get-go is what will position you in your market space, make you stand out and helps you speak to the right people. It also helps you when you do come to marketing your services to stay focused, consistent and on track with getting your message out there. Making sure you’re consistent across all touchpoints of your business is what’s key to authenticity and building trust among your audience.

So what’s the byproduct of a strong brand? Longevity, sustainability, growth, your very own tribe and a slice of the pie in a booming industry.


References

https://www.telegraph.co.uk/business/tips-for-the-future/future-of-health-wellbeing-beauty/

https://luxe.digital/business/digital-luxury-reports/luxury-wellness-fitness/#cite_note-2

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Cotton Flower

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