SOURCE: Global Market Development Center (GMDC)

Global Market Development Center (GMDC)

December 15, 2016 13:15 ET

Consumers Hold Retailers Accountable For Their Health & Wellness Journey

Changing behaviors, shifting demographics transform the $3.4 trillion wellness market

COLORADO SPRINGS, CO--(Marketwired - December 15, 2016) - As consumers strive to live more healthful lifestyles, their purchasing behaviors are changing rapidly, driving every buying decision. More than ever, consumers want -- and expect -- retailers and manufacturers to assist them on their health and wellness journey inside the store.

Global Market Development Center (GMDC), a leading trade association that advances innovation in the marketplace, has released a whitepaper, "Next Practices: The Health & Wellness Consumer, Helping Trading Partners Shape the Future…Today," which offers market insights, trends shaping buying decisions, and barriers and solutions for retailers and manufacturers to address in order to best serve consumers.

"As consumers around the globe search for better, healthier and smarter solutions that fit their lifestyle, the motivation for brands and stores to meet these needs means modeling an experience they cannot achieve with e-com," said GMDC President and CEO Patrick Spear.

Within the $3.4 trillion global wellness market, $1 trillion annually is spent on beauty and anti-aging, $574 billion is spent on healthy eating, nutrition and weight loss, and $433 billion is spent on preventative and personalized health.

The macro-level trends driving the enormous spending are happening so rapidly. Consumers are taking back the power to decide and are immersing themselves in knowledge and facts through technology and shared learning from friends and family.

The trends shaping the new consumer-driven health and wellness movement include:

  • Consumers are exercising three days a week on average.
  • 63 percent are trying to eat healthier, and 44 percent eat more at home.
  • 45 percent read product labels to make healthier choices.
  • 8 in 10 consumers are using vitamins and supplements to enhance their wellness.
  • 48 percent of consumers shop local for natural/organic.
  • 45.7 million consumers use their phone to search for health and wellness solutions.
  • Baby Boomers spend 42 percent more on health and wellness than Millennials.
  • 1 in 2 Americans are shifting from health care to self-care as a result of rising costs.

It's clear that health and wellness is fueling all purchasing decisions -- shoppers expect retailers and manufacturers to offer a holistic, healthful experience that inspires them and speaks to their aspirations -- from the entrance to the checkout line.

"Health and wellness is a foundational element in everyone's daily lives," said Mark Mechelse, GMDC's director of research, industry insights and communications. "For consumers to change behavior, they must have the motive, means and messages to do so. That is the essence of opportunity for collaboration between trading partners."

GMDC's leading-edge research identifies four barriers consumers face as they make purchasing decisions, and provides "next practice" solutions to create seamless trips in the pursuit of a healthy lifestyle (the four Cs). These include:

Convenience - Make it easy.

Confusion - Make it simple.

Commitment - Make it mine.

Cost - Make it valuable.

"By offering the right products, mix and merchandising strategies, consumers feel the difference in stores and can spend less time hunting for products that pertain to their health and wellness motives," said Jeff Rehling, a 30-year marketing practitioner and lead author of the whitepaper.

The sponsors and contributors of the insight report include: AmerisourceBergen, CROSSMARK, Johnson & Johnson, Navajo Inc., Unilever, Nielsen, Advantage Solutions, Rodale, Kantar Retail and Edgewood Consulting Group.

Access the white paper here: https://www.gmdc.org/content-library

About GMDC
Global Market Development Center (GMDC) energizes members and the marketplace by advancing a culture of Connect-Collaborate-Create-Commerce. As the leading GM and HBW trade association, GMDC is dedicated to serving its ecosystem of more than 600 General Merchandise and Health Beauty Wellness retailers, wholesalers, suppliers and service/solution member companies by enabling consumer-facing innovation and retail reimagined. GMDC's combined member volume represents more than 125,000 retail outlets and more than $500 billion in sales. To learn more, visit gmdc.org.

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