What the Growing Wellness Market Means for Public Relations
It’s the start of a new year, which means ‘health and wellness’ resolutions are at the top of everyone’s mind. But as we’ve seen in the past few years, people’s interest in maintaining their mental and physical health continues to skyrocket with no sign of stopping — this isn’t just a seasonal fad anymore.
The latest findings from the Global Wellness Institute show that the global wellness market is growing at a historic rate, with a 12.8% increase in the last two years, becoming a $4.2 trillion market. The natural beauty market alone is currently valued at $11 billion and is predicted to grow to $25 billion by 2025.
It’s becoming evident that now more than ever before consumers are mindful of the products they buy and the brands they choose to support. Due to this shift in consumer behavior, the availability of better-for-you products continues to grow rapidly in a
In addition to an increasingly crowded market, traditional retailers have already begun making changes to their offerings, investing more heavily in “clean” products. In one case, CVS Health (previously CVS Caremark), announced the removal of toxic ingredients across nearly 600 beauty and personal care products from its store brands by the end of this year. And major retailers like Nordstrom, Target
It’s clear that businesses are at an inflection point. Consumers are pushing the market in a direction in which honesty and safety are fundamental to succeeding. Companies have to consider how these shifts will impact their businesses and how they can best move forward in this changing landscape.
So what does all of this mean for public relations?
Public relations professionals have always had to think outside the box, but we’ll be challenged even further to ensure we’re pitching unique and interesting stories. What may be distinct about a client in 2019, likely won’t be in 2025, as more companies make health and wellness part of their mission or product offering. For instance, if the majority of cosmetics companies eventually remove all toxic ingredients from their products, then “safer beauty” is no longer a story worth pitching, as what was once the exception has become the norm.
And for corporations making big changes, (like in the case of CVS), public relations (along with content marketing) will be especially important. These businesses will have to properly communicate why they’ve made a decision to invest in health and wellness. If this messaging doesn’t feel authentic to the brand and mission, businesses risk losing both credibility and customers.
Ultimately, public relations agencies will have to continue doing what we do best: