FEATURE – HEALTH & WELLNESS
Wellness as a Value Driver for Brands The emergence of the wellness economy has been inspired by today’s consumer – the holistically healthy ones. Retail People Magazine speaks with Juman Sleiman, Brand Strategist at Limelight, about holistic living referring to mental, physical, social and spiritual. Since personal well-being cannot be replicated online, how will brands leverage to a shift in peoples’ lifestyles? What is the future when it comes to delivering aspiration?
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he wellness economy has spread rapidly across diverse categories such as beauty, food, hospitality, travel and retail. Around 37% of consumers worldwide are interested in the emerging trend, with those in the Middle East region qualifying as the highest in comparison to the other markets. There are many players in the industry that have affected the emergence of well-being, however, digital transformation and the cravings for authenticity and experiences still play the biggest role. There is no debate that the need for such experiences particularly has been existent for years. Although people are still in search of this, there is now an additional layer of greater value dedicated to their personal wellness: brands that are lifestyle-focused. Gone are the days of shopping as a form of retail therapy. Rather, brickand-mortar retail stores have been responding to this shift in demand by expanding their offerings and delivering a holistic lifestyle. The Global Wellness Institute had announced a while back that the wellness market is worth $4.3 trillion. Upon such a reveal, Saks Fifth Avenue was one of the first to initiate experiences that would embrace the shift. A salt room was introduced where visitors were given the opportunity to relax in a room which would purify the body as salty vapors were inhaled. They could even schedule ‘Breathe’ sessions as a form of detoxing and relieving stress. Naturally, this drove sales and increased dwell time.
42. RETAIL PEOPLE . JAN-MAR 2020
More recently, Lululemon established a permanent approach to the new self-focused economy by creating memories, lifestyle-oriented memories. Their new store in Chicago manifested this brand vision by using the 20,000 square foot space as a hub for meditation, mindfulness, and personal development. Customers were given the choice to test products before purchasing them. In addition to this, the location offers daily studio classes and relaxing lounges or workstations for personal use. Personal well-being is not something that can be replicated online as it begins by being present in a physical space. While technology disruption has become the value driver for many industries, brands need to also embrace wellness and understand that it is reshaping customer expectations today. The future of all sectors is shifting towards selling a holistic living lifestyle which retailers and marketers need to consider as part of their brand messaging, product offering and in-store experiences. Personal well-being is one of the most intimate and delicate matters, and for that reason brands need to leverage the wellness economy by taking care of their customers. They need to convey a lifestyle characterised by mental, physical, social and spiritual well-being because after all, consumers today do not dream of owning something but rather becoming someone. So, to foster brand trust and build loyalty, how will your brand deliver this aspiration?
