We’re honored to share this guest post from Ron Williams of Fey Industries. With over 20 years’ experience as a physician, he provides unique insights into the worldwide health and wellness trend that is changing the promotional products industry.
There is a worldwide trend that has been developing in the last 15 years where consumers are spending record amounts on healthy eating and healthy living. In fact, it is estimated that in 2017 consumers worldwide will spend $1.2 TRILLION on healthy eating! The USA leads the way in this spend category, and the market is continuing to increase.
Understanding the WHO, and the WHY of this worldwide trend is vital to connecting with your target audience. This trend is not just important for those in the healthcare industry, but is affecting people across all ages and in all lines of work. When armed with the facts, there is an opportunity for marketers to understand their customers and incorporate healthy lifestyle products into their marketing efforts. So here it is, I’ve compiled the facts for you to solve what I like to call “The Wellness Puzzle”.
Companies like Whole Foods and Central Market are putting an emphasis on healthy food, and more and more “organic” and “gluten-free” products are taking over shelf space in our stores. There is a reason why these niche healthy grocery stores have exploded into chains across the country. So why are consumers choosing healthy lifestyles and who is the group that is pushing this trend? The short answer is Baby Boomers.
The Baby Boomer generation is the driving force right now behind the push for healthy eating and a healthy lifestyle, with Gen-X and Millennials following close behind. Studies show that the trend is following an increase in diabetes, high blood pressure and heart disease within the Boomer generation. As they are aging and their health declines they are seeking products and habits that promote a healthier lifestyle.
Did you know that 73% of Boomers suffer from a chronic health issue? To combat this they are eating less processed foods, avoiding preservatives, cutting back on meat consumption, and moving towards more fish, veggies, and fruits. They are also cooking more often at home and preparing their meals with pure, organic ingredients. Along with the trend to eat healthier, they are also flocking to gyms and going regularly. This is why health and wellness products such as a bamboo cutting board, pedometer or an apple slicer make for great branding opportunities. You can show that your brand cares while providing helpful products that align with your consumer’s goals.
So maybe you were already aware of these trends, but do you know why they are important? Although everyone likes to talk about Millennials, the Baby Boomers are still a huge percentage of your target market; and it is critical to understand your audience before you reach out to make a connection. By understanding these trends you are going to be more impactful with your messaging. Right now the baby boomer generation earns 42% of ALL the money made in the US, so there is no denying the buying power of this demographic. These are your customers and they permeate all industries.
I’ve been speaking on Baby Boomers, but if your brand is going after a younger audience this information is still important for you as well. An emphasis on health and wellness has been a growing trend for 15 years, and there is no end in sight. Gen X and Millennials consist of adults ranging in age from 22 to 52 and are next up in inheriting the capital and buying power of their parents and grandparents. The reason this trend is so important is because it is one that isn’t going away. 68% of Gen X and Millennials are also choosing healthy lifestyles because they see what their Baby Boomer parents and grandparents are going through and want to avoid suffering from similar health issues. This upcoming group of customers and buyers are even more health conscious than their parents and will influence the market for the next 36 years. The health and wellness trend is not a fad!
For at least the next 36 years, healthy living, and cooking at home is going to be a part of your customer’s lives. Your business can not only survive, but thrive in regards to these changes. The first step is becoming informed and educating your customers, the next step is to shift your marketing plans to be aligned with the lifestyle. Providing your customer with products that proactively address and manage their wellness is key.
In today’s economy, it’s not necessarily the strongest that survives but the smartest. Because of this demographic shift in mindset that has taken place within the Baby Boomer generation, no longer do businesses need to utilize a ‘shotgun’ approach to marketing and hoping that something sticks. Now that you are armed with the facts, you can begin to put all the puzzle pieces together. Once you realize and fully understand the ‘mindset’ of your customers, the opportunity to truly market your company and build your brand in a cost effective and highly targeted manner is now available at your disposal.
Interested in shopping health and wellness products? Check out our picks here!