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Corporate wellness, sleep and indifference to ‘clean’ beauty: McKinsey research reveals six crucial US wellness trends
By Megan Whitby 12 Jan 2023
McKinsey noted that sleep was a market ripe for disruption – with a wide variety of products to help improve sleep, such as wearables, smart mattresses and supplements – however it is still an area with the greatest unmet consumer need Credit: Shutterstock/RSplaneta
McKinsey has gathered data on 2,000 US consumers to reveal insights into shifting consumer behaviour towards wellness in the US.

Overall, The Future of Wellness Survey predicts that the US wellness market will continue its rapid growth.

Featured in the latest issue of Spa Business, the new report also reconfirmed the findings of previous editions of the survey – that the main consumer trends are focused on better health, fitness, nutrition, appearance, sleep and mindfulness.

Interestingly, however, the researchers observed that although spoiled for choice with wellness services and products, consumers still feel that their needs are unmet.

The report highlights the six most crucial trends that will give businesses an edge and put them in the best position for success and growth in the years ahead.

1. ‘Natural’ and ‘clean’ have their limits
McKinsey researchers witnessed a decline in interest in products labelled as ‘clean’ and ‘natural’, with many consumers now valuing efficacy over these qualities. One factor at play, they say, is there may be a degree of overexposure to these claims and a perception they’re a form of greenwashing. The report suggests companies reevaluate product messaging relating to clean and natural claims and “seek to differentiate themselves from the messaging of peers”.

2. Differences in private-label preferences
The survey shows that US consumers are prioritising private-label and smaller brands differently, depending on the product category or how established they are. In newer categories (such as juice cleanses) or where the science is starting to gain widespread acceptance (such as gut health), emerging brands are at the forefront of product and business model innovation, which consumers recognise and value. McKinsey says the pace of innovation presents opportunities for companies to enter the market.

3. Increasing focus on sleep
Forty-five per cent of McKinsey’s respondents labelled better sleep a very high priority. Over a quarter say they’ll “definitely place a higher priority on sleep in the next two to three years”. In comparison to previous years, consumers are now offered a wide variety of products to help improve sleep, such as wearables, smart mattresses and supplements. However, McKinsey highlights that it’s the area with the greatest unmet consumer need and consequently there’s a significant opportunity for new companies to enter the arena and disrupt it. Researchers suggest that companies that tie their products to tangible improvements in sleep will be the most successful.

4. Millennials spend more
Findings clearly indicate that millennials in the US top the bill as the generation that most prioritises health and wellness. They also exhibited the highest average purchase rate of wellness products and services of any generation in the six months to April 2022. McKinsey recommends that to tap this crucial consumer base, companies should invest in marketing that’s tailored to appeal to this segment, such as tapping influencers or celebrities for marketing campaigns or working with social media channels such as TikTok or Instagram.

5. Black consumers’ needs unmet
The report also exposes that Black consumers are the group with the greatest unmet needs, with 47-55 per cent of this segment saying they needed more wellness products and services to meet their needs. In comparison, only 35-39 per cent of Asian consumers and 30-35 per cent of White consumers said the same. McKinsey feels this demand will only increase and recommends businesses allocate a portion of their R&D budgets to understanding what types of products can satisfy these consumers.

6. Corporate wellness surge
Researchers noted that since the start of the pandemic, there’s been an influx of wellbeing-related employee benefits. To remain ahead of this curve, McKinsey advises companies to explore corporate partnerships that enable them to offer their products and services as part of staff wellness programmes – itself a growing segment.

To read the whole The Future of Wellness Survey, follow this link.


News
1 to 12 of 8515 news stories
26 Sep 2023
The Dorchester Collection’s Parisian outpost, Hôtel Plaza Athénée, has refreshed its Dior spa with new facilities and exclusive wellness programming. Complete with five single treatment rooms, a couple’s treatment room, a sauna and a hammam, ... More
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Therme Group has received planning permission to build the UK’s first city-based wellbeing resort, Therme Manchester, after a four-year journey. Planning approval has been granted for the UK’s first city-based wellbeing resort, Therme Manchester, in ... More
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Improved mental health is now a stronger motivation for Brits to exercise than staying in shape. More than half of respondents (54 per cent) to a survey of 2,271 people – commissioned by UK Active ... More
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The World Health Organization (WHO) has published its first-ever report on the "devastating global impact" of high blood pressure, along with recommendations on the ways to win the race against the condition. The report, called ... More
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Soneva will open a new US$40 million (£32.1 million, €37.4 million) resort in the Maldives’ secluded Haa Dhaalu atoll on 10 January 2024. The intimate 14-key resort will be the flagship Soneva Secret property – ... More
18 Sep 2023
European health spa hotel operator Ensana has announced plans to operate its first Bulgarian location this October. Launched in 2019, Ensana manages 27 hotels in the Czech Republic, Hungary, Slovakia, Romania and the UK, many ... More
15 Sep 2023
Samantha Ashton has stepped up to a new role as director of spa UK & Ireland at UK-based global spa and wellbeing brand ESPA. Having worked at ESPA for five years, Ashton initially joined as ... More
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Children who take part in organised physical activity or sport over their first two school years, while also having better diets and spending more time reading have more powerful reasoning skills than peers who don't ... More
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Iconic wellness and fitness destination Rancho La Puerta is under new leadership with the appointment of Eliezer Quiñones as new general manager. A hospitality industry veteran with more than two decades of experience, Quiñones will ... More
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Former world number one tennis player Maria Sharapova has entered into a multi-year partnership to become Aman’s first-ever global wellness ambassador. In her new role, the Russian former elite athlete will co-create a series of ... More
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US longevity franchise Serotonin Centers has expanded its footprint with a second Florida location in Winter Park. The brand will open three additional private member clubs in Orlando within the next year. Named after the ... More
     
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Corporate wellness, sleep and indifference to ‘clean’ beauty: McKinsey research reveals six crucial US wellness trends
POSTED 12 Jan 2023 . BY Megan Whitby
McKinsey noted that sleep was a market ripe for disruption – with a wide variety of products to help improve sleep, such as wearables, smart mattresses and supplements – however it is still an area with the greatest unmet consumer need Credit: Shutterstock/RSplaneta
McKinsey has gathered data on 2,000 US consumers to reveal insights into shifting consumer behaviour towards wellness in the US.

Overall, The Future of Wellness Survey predicts that the US wellness market will continue its rapid growth.

Featured in the latest issue of Spa Business, the new report also reconfirmed the findings of previous editions of the survey – that the main consumer trends are focused on better health, fitness, nutrition, appearance, sleep and mindfulness.

Interestingly, however, the researchers observed that although spoiled for choice with wellness services and products, consumers still feel that their needs are unmet.

The report highlights the six most crucial trends that will give businesses an edge and put them in the best position for success and growth in the years ahead.

1. ‘Natural’ and ‘clean’ have their limits
McKinsey researchers witnessed a decline in interest in products labelled as ‘clean’ and ‘natural’, with many consumers now valuing efficacy over these qualities. One factor at play, they say, is there may be a degree of overexposure to these claims and a perception they’re a form of greenwashing. The report suggests companies reevaluate product messaging relating to clean and natural claims and “seek to differentiate themselves from the messaging of peers”.

2. Differences in private-label preferences
The survey shows that US consumers are prioritising private-label and smaller brands differently, depending on the product category or how established they are. In newer categories (such as juice cleanses) or where the science is starting to gain widespread acceptance (such as gut health), emerging brands are at the forefront of product and business model innovation, which consumers recognise and value. McKinsey says the pace of innovation presents opportunities for companies to enter the market.

3. Increasing focus on sleep
Forty-five per cent of McKinsey’s respondents labelled better sleep a very high priority. Over a quarter say they’ll “definitely place a higher priority on sleep in the next two to three years”. In comparison to previous years, consumers are now offered a wide variety of products to help improve sleep, such as wearables, smart mattresses and supplements. However, McKinsey highlights that it’s the area with the greatest unmet consumer need and consequently there’s a significant opportunity for new companies to enter the arena and disrupt it. Researchers suggest that companies that tie their products to tangible improvements in sleep will be the most successful.

4. Millennials spend more
Findings clearly indicate that millennials in the US top the bill as the generation that most prioritises health and wellness. They also exhibited the highest average purchase rate of wellness products and services of any generation in the six months to April 2022. McKinsey recommends that to tap this crucial consumer base, companies should invest in marketing that’s tailored to appeal to this segment, such as tapping influencers or celebrities for marketing campaigns or working with social media channels such as TikTok or Instagram.

5. Black consumers’ needs unmet
The report also exposes that Black consumers are the group with the greatest unmet needs, with 47-55 per cent of this segment saying they needed more wellness products and services to meet their needs. In comparison, only 35-39 per cent of Asian consumers and 30-35 per cent of White consumers said the same. McKinsey feels this demand will only increase and recommends businesses allocate a portion of their R&D budgets to understanding what types of products can satisfy these consumers.

6. Corporate wellness surge
Researchers noted that since the start of the pandemic, there’s been an influx of wellbeing-related employee benefits. To remain ahead of this curve, McKinsey advises companies to explore corporate partnerships that enable them to offer their products and services as part of staff wellness programmes – itself a growing segment.

To read the whole The Future of Wellness Survey, follow this link.
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Therme Group has received planning permission to build the UK’s first city-based wellbeing resort, Therme Manchester, after a four-year journey.
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Demand for wellness tours and retreats is ramping up reports WeTravel survey
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Soneva will open a new US$40 million (£32.1 million, €37.4 million) resort in the Maldives’ secluded Haa Dhaalu atoll on 10 January 2024.
+ More news   
 
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Founded in 1928, KLAFS is known as an award winning, world-leading trendsetter in wellness and spa. [more...]
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