Modern "lifestyle" supplements are made more affordable
Trend - With vitamins and supplements now being adapted to suit modern preferences–with contemporary branding and personalized sets or formulations–prices for these items are often inaccessible for most. This is changing with emerging brands in this space offering the same modernized formats, but at reasonable pricing–giving a wider range of consumers access to these products.
Insight - The wellness industry has often been associated with "luxury," however, consumers are increasingly expecting brands to democratize luxury goods in a range of industries. With successful brands in industries like skincare and fashion now offering once-costly items at more reasonable prices, consumers are becoming accustomed to giving off the perception of wealth on social media–without having to spend the money. The natural progression is for this to occur in the wellness space, with brands now having to prioritize accessibility when it comes to offering more "elegant" collections.
Insight - The wellness industry has often been associated with "luxury," however, consumers are increasingly expecting brands to democratize luxury goods in a range of industries. With successful brands in industries like skincare and fashion now offering once-costly items at more reasonable prices, consumers are becoming accustomed to giving off the perception of wealth on social media–without having to spend the money. The natural progression is for this to occur in the wellness space, with brands now having to prioritize accessibility when it comes to offering more "elegant" collections.
Workshop Question - How could your brand make its products more cost-accessible to the average consumer?
Trend Themes
1. Democratisation of Luxury Goods - Consumers are increasingly expecting brands to democratize luxury goods in a range of industries, including supplements and vitamins, which will require brands to prioritize accessibility when it comes to offering more elegant collections.
2. Ingestible Beauty - Consumers are increasingly turning to ingestible beauty supplements that help to nourish them from the inside out.
3. Personalized Approach - Brands should consider offering personalized approaches to skincare and supplements, such as with tailored probiotics to support optimal wellness, and custom skincare sets.
Industry Implications
1. Wellness Industry - Brands in the wellness industry can democratize their products by prioritizing accessibility and affordability to attract new consumers.
2. Beauty Industry - Brands in the beauty industry should consider offering ingestible beauty supplements to help consumers approach their health, wellness, and beauty in a holistic way.
3. Nutrition Industry - Companies in the nutrition industry should consider personalized formulations to cater to specific bodily needs, such as with seasonal probiotics.
