Is health and wellness a trend or a way of life? The Global Wellness Institute estimates that the wellness industry is worth $4.2 trillion and is growing quickly. Between 2016 and 2018 the industry grew at rate of 12.8%. But what exactly constitutes health and wellness and how are companies capitalizing on it? The top three categories within the wellness industry are: Personal care and beauty (valued at $1 trillion), healthy eating, nutrition and weight loss (valued at $702 billion) and wellness tourism (valued at $639 billion). Take a look at how a few companies are capitalizing on this trend.
1. Equinox, provider of high-end fitness clubs, recently launched its Travel Experience service. As part of the service it provides luxury fitness excursions around the world where customers can partake in a host of fitness experiences. The first trip will take place in April 2019 in Morocco. Other trips include one to Ethiopia that focuses on the history of elite running as well as a mindfulness getaway in India. All trips focus on fitness and lifestyle programming.
2. Last year Sephora launched Clean at Sephora. The goal is to make Sephora the place to go to for non-toxic beauty products. Clean at Sephora brands do not include ingredients such as sulfates, parabens or formaldehyde. Sephora’s Chief Marketing Officer, Artemis Patrick, says that: "many [customers] are looking to shop brands and products that are 'free of' and Sephora is responding to help them do that, easily and conveniently in-store, online, and on mobile." All brands within the program can be identified by a "Clean at Sephora" seal
3. Last year Anthropologie launched Wellness by Anthropology in 12 stores. The new area in these stores sell essential oils, crystals, teas and dietary supplements. The items are ethical and “conscious” . Speaking about the launch Catherine Moellering, general merchandise manager of beauty for Anthropologie said “our customer approaches wellness in a holistic and individual way and is looking for ideas, products, and solutions that are easy to integrate into her lifestyle,” The products target the mind (i.e. essential oils diffusers), home (i.e. aromatherapy eye pillows) and the body ( i.e. “digital detox” bath salts).
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