If you’ve walked along the high-street recently you’ll no doubt have noticed several major chainstores closing down. Many high-street shops are relying heavily on huge sales just to tick along with consumers preferring to shop online. Could it be that with consumers placing much more value on health and wellness than on material objects, that there is a new dawn for the future of retail? Is wellbeing the future of retail?
Health and wellness is no longer just about not being sick. Holistic health and wellness spans mind, body and soul with everything from food to homeware impacting our overall health and happiness. Our mental, physical and emotional health is greatly impacted by the choices we make. Perhaps creating an environment that encourages a state of wellbeing could be the future of the high-street?
An environment of wellness
Wellness devotee and actress Gwyneth Paltrow opened her Goop store in London. The Goop Lifestyle Brand is growing year on year as they promote the concept of holistic wellbeing through thier wide range of products. There have been some amazing steps forward in creative retail design to create environments that customers genuinely feel happy to be in. This even extends into the digital world. You need to be able to craft an online presence that feels just as dedicated to the wellness of your customers as your offline business.
Consumers are happily spending money on a holistic approach to health and wellness. This includes nearly every aspect of life, even sleep. More and more people are signing up for fitness classes, using products, devices and apps that aid sleep and meditation. As well as eating organic and natural foods and taking health supplements. Consumers are connecting with brands that resonate with their lifestyle and feelings more so than ever.
Image by Annabel Elston
One of the biggest mistakes businesses make is to discount the importance of customers thoughts and feelings. Whether talking to customers over the phone, tweeting, or connecting face to face. It’s important not just to provide great service, but to let each customer know that you care. This can be a very small change but it’s one that makes a huge difference in how customers feel when they come away from your business.
Millenials in motion
While the wellness trend is prominent across all age groups, millennials are driving its growth. Millennials, incase you’re not clear are those who were born between 1980 and 1999. Millenials have grown up in a time of very rapid change, with technology, social media and overwhelm!
For millennials, wellness is a daily, active pursuit and one they are willing to spend hard earned cash on. Many millennials bring fitness into everyday life spending money on everything from gym memberships, apps and wearing leisure apparel.
According to the Harris Group, 72% of millennials would rather spend money on experiences than on material goods, that preference is surely going to force retailers to adapt as more millennials grow older and have an increase in spending power?
The concept of wellness in retail is more than just being fit—it is also about feeling happy and enjoying experiences that promote wellbeing, it’s about sharing those experiences with friends. Perhaps we are on the verge of a change to the face of retail? Perhaps happiness and wellness are the latest must-have thing?
“Folks are usually about as happy as they make their minds up to be.” –