How the Wellness Culture Has Altered Marketing
Marketing used to be about one thing: promises of a joy-filled existence, achievable only if we buy this product or that. Often one-dimensional – with the product having little actual relevance to the premise.
Recent years have seen a breakthrough culture, however: one which encapsulates positivity in mind, body and soul – a holistic view of a rounded life, accommodating physical wellbeing as much as mental, social, spiritual and financial.
It has become so all-encompassing that companies can no longer afford to ignore the wellness industry; be it at their peril if they do.
Wellness Industry: A $3.7 Trillion Global Market
Where traditionally, wellness might have been defined as food, beauty or fitness, we have witnessed its evolution into a more cultural, societal, even economic, trend. Moreover, the growth of the market has led major brands to re-orient themselves towards ever more refined consumer beliefs.
Marketing has become about handing the power back to the consumer; delivering the detail which allows them to harness a mindful life. The origin of a product now has less of an influence as does the burgeoning trends forcing the marketer’s hand.
In light of the shift, cosmetics companies now tell stories of responsibly-sourced ingredients with ecological credentials; with fashion brands seeking to launch their own range in the fitness-wearables market.
While beauty still captures close to one-third of the category with a market size of roughly $1 trillion; food, nutrition and weight loss stand at $648 billion. However, wellness tourism has quickly grown into a $563 billion behemoth, alongside a mind-body category of $542 billion.
The opportunities are clear. So, incumbents must quickly plot a strategy if they are to capture their share.
Sharing Best Practice Across Industries
Even more traditional sectors are recognising the wellness opportunity; looking sideways for inspiration.
Healthcare institutions are taking their cue from high-end retail experiences to improve the overall ‘customer’ experience while leveraging technology to enhance doctor-patient relationships. Dominant FMCG manufacturers are experiencing challenges from upstarts, so themselves are trying to provide healthier, ethically-sourced products; having suffered stilted growth in recent years. Anti-ageing as a category is a phenomenal growth story: sitting at $250 billion in 2016, it is forecast to hit $330 billion by 2021.
All the above sectors – alongside countless others – are facing significant upheaval due to the rapidly-changing consumer beliefs.
The Role of Transcreation and MLM in Wellness
Given wellness focuses on the holistic experience, brands are having to construct entire ecosystems for consumers to share, allowing people to appreciate the narrative behind the product experience. Furthermore, brands are coming under increasing pressure to articulate ethically-minded stories demonstrating due consideration for the wider world.
Wellness is a global industry but with geographical nuance; so, to communicate such complex and far-reaching messages takes a deep understanding of market trends with localised expertise to get the narrative just right.
Transcreation tackles the challenge by adapting stories to fit the target market without losing the essence of the brand. With messages passing through several levels before reaching the consumer, such attention to detail is critical if to capture the interest of this highly-selective audience.
