Wellness Redefined: Back to Basics and Reassessing Value

August 2020

The Coronavirus pandemic has reshaped consumers’ perception of wellness as means to cope with recession-linked uncertainties and health threat concerns. As discretionary spending dampens and awareness of the disproportionate impact on different communities and economies becomes more apparent, brands are faced with the need for a huge value reset that fosters not only accessibility, but also inclusivity of wider consumer groups and the adoption of much needed social and ethical commitments.

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Key Findings

Value redefined

In the context of more conservative spending attitudes as a result of the pandemic and the need for universal wellness, value strategies need adjusting, not purely on price, but considerations of perceived quality and inclusion of wider communities of any income, race or ethnicity, accessibility and recognition of relevance beyond the confinement of the Western world.

Back-to-basics wellness

Consumers are turning to wellness in its original form and to products which they trust. They will seek real and relevant solutions vs overpriced gimmicks.

This calls for an adoption of a no-frills approach that instils authenticity but also efficacy backed up by expertise. Simplicity and minimalism in terms of messaging, formulations and product and service formats.

Accessible wellness

In addition to exploring multiple price tiers across portfolios, price sensitivity can be reduced by ensuring targeted, tangible and result-driven benefits; adoption of holistic and multi-functional product credentials, pack size tailoring, as well as projecting a wider purpose in support of vulnerable communities and localism, alongside personal relevance.

Inclusive wellness

Covid-19 has exacerbated multiple issues around inequality and lack of financial, ethnic and geographic inclusivity.

Acknowledging these disparities will mean creating a more balanced distribution of health access and slowly transforming the narrative away from “health as a status symbol” to “health access for everyone”.

Purpose-driven wellness

Building on purpose-driven strategies and ethical commitments which cultivate social and community assistance where it is most needed.

Supporting the need for shared experiences through expanding community brand platforms and reinventing social settings, occasions and formats characteristic of the ‘new normal’

Introduction

Scope
Key findings
The path to more pervasive, inclusive and accessible wellness

Economies and Consumers

Key implications in Economies and Consumers
Back to basics amid restrained spending and new values
Inclusivity to reach a broader consumer base
US: affordable wellness shows relevance during COVID-19
China: wellness is the new luxury
Key implications for businesses

Health, Beauty and Fashion

Key implications in Health, Beauty and Fashion
Back to basics embraces efficacy, safety and science-backed claims
Access is the crux of inclusivity especially for consumer health
Tala at the intersection of wellness, inclusivity, and sustainability
Sephora’s clean seal leverages ingredient safety, efficacy, using AI
Key implications for businesses

Drinks and Tobacco

Key implications in Drinks and Tobacco
Back to basics: seeking the nuance and power of natural actives
Inclusivity: importance of price and community construction
Carry On CBD-infused sparkling water from Ocean Spray
CAMRA’s virtual pub The Red (On)Lion
Key implications for businesses

Food and Nutrition

Key implications in Food and Nutrition
Back to basics: natural functionality and localism strengthen
Reassessing value and the need for strong ethical commitments
Support your locals: embracing local food producers in the Netherlands
Pip & Nut: aiding food banks when it is needed most
Key implication for businesses

Home and Technology

Key implications in Home and Technology
Embedding benefits of mental wellness enhance value proposition
Tech behaviours highlight generation disparities in managing wellbeing
Hatch: customisation in devices that manage sleep environment
ElliQ : Practical solutions to support mental wellness in seniors
Key implications for businesses

Services and Payments

Key implications in Services and Payments
Feeding consumers with heightened health awareness
Holistic support for community wellness
Yonder, a nature-based travel platform
# ChefsForAmerica builds on community support
Key implications for businesses

Conclusion

Key recommendations for business: value reassessment
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