The Trump Effect is already altering the personal care and beauty market
At the organization’s event, chairman and CEO Susie Ellis shared 5 top industry trends with the audience, a packed house of media and wellness professionals. She opened this section of her remarks by listing the seven most influential factors for the market today. Topping the list, “Trump.”
She linked other influential factors to the current Presidential administration too, including “populism,” “geo-political uncertainty,” “fake news & alternative facts,” and the “looming ACA repeal.”
Administrational influence
Remarking on the influential factors and how they will alter the wellness / personal care market, Ellis commented that, “As things get more uncertain, wellness gets more important.”
And she went on to note that consumers will be seeking to control their environs more than usual going forward and that “personally, wellness is something we can choose to control.”
Trends and predictions
Taking the new political landscape into consideration as well as a couple of other factors (digital overload and rising income equality, which maybe a secondary political condition), Ellis put a pin in five trends that will shape the wellness economy in the near term.
Healthy Mind is the first trend she pointed to. This trend means that products and services promoting meditation, sleep, and creative activity should do well.
Silence is the second trend. This is likely to mean business will be good for wellness travel destinations and conventional services like hair salons, gyms, and boutiques that incorporate silence intentionally into the consumer experience.
Democratization of Wellness is trend number thee. This trend accommodates consumers at the low end of the economic spectrum and will give rise to sliding-scale wellness offerings, low-cost wellness hotels, and affordable healthy groceries, explains Ellis.
In-Home Wellness is number four. This means that wellness architecture and real estate will be more prevalent. It is an opportunity for design to influence wellness at every level.
Market Growth is the final trend. Ellis explains that despite (and in some cases because of) “sudden change and uncertainty” the wellness market will grow in the year ahead.
Market ready
Numerous beauty brands are already moving on this opportunity. Bon Vital, a skin wellness company out of Akron, Ohio, has its BVspa brand products on the market at Shopper’s Drug Mart in Canada, at select stores in Texas, and has plans to enter the US market en mass quite soon, as Veronica Amenta, a marketing representative for the company told Cosmetics Design at the recent Global Wellness Institute’s event.
Other brands boasting spa-caliber products for the at-mass, at-home market include Bloom Mineral Beauty, a skin care and body care company that formulates product with Dead Sea minerals. That company has its sights on wide US distribution, as CEO Jeff Littman recently told Cosmetics Design.
And products like Primary Raw’s two-step milk peeling kit, available through Glow Recipe, has been selling well in the US for some time with its promise to bring the K-Beauty spa experience home.
