The post-pandemic rebound of consumer spending has created opportunities across all markets – and none more heavily impacted than the ‘wellness’ industry. First of all, exactly what is wellness? While it can mean different things to different people, for many it encompasses physical fitness, holistic care, happiness, relaxation, mindfulness, emotional balance, stress reduction, quality of life and spiritual health. Wrapping it all up (and keeping in mind that the concept of wellness tends to be “active” rather than “passive”), wellness is the act of practicing healthy habits on a daily basis, with the goal of attaining better physical and mental health. Simply put: instead of surviving, you’re thriving.
And here’s the interesting part: wellness has become a thriving industry made up of not just fitness and nutrition, but health and appearance. Research shows that consumers care deeply about wellness, and that interest is growing. In a survey of 7,500 consumers across 6 countries, 79% stated that wellness is important, and 42% consider it a priority. Today, the global wellness market is estimated at more than $1.5 trillion with annual growth of 5-10%. When we factor in the rise in both consumer interest and purchasing power, and the inevitable post-pandemic spending rebound, we’re looking at one of the most robust industries on the planet – albeit increasingly crowded with products and services.
Let’s take a look at how today’s sophisticated consumer views the six key wellness categories. Health now extends beyond medicine to include devices, remote access to services, personal health trackers and more. Fitness has been heavily impacted by COVID with many consumers struggling to maintain pre-pandemic fitness levels. Nutrition has dramatically upped its wellness game, with consumers expecting food to not only help them accomplish their wellness goals but taste incredible. Appearance has moved into a featured position of the wellness market, with athleisure and beauty products, as well as service-oriented offerings like nonsurgical aesthetic procedures in high demand. Sleep has emerged as a science unto itself, with tracking apps, naturopathic supplements and other sleep-enhancing products all part of the sleep lexicon. And lastly, mindfulness has become a key wellness buzzword and a concept (and practice) with mainstream acceptance.
With such increased consumer focus on wellness, and the corresponding growth in products and services, how – and where – does a BPO (business process outsourcing) company fit? We expect to see a dramatic increase in SMBs focussed on winning in the wellness market – and one way that these businesses can achieve a front-running position in an admittedly crowded field is by aligning themselves with a trusted BPO / outsourcing company like Anexa. We have twenty years of outsourcing experience across a wide range of industries, which enables our skilled workforce to tailor its approach specifically to your audience and area of business – including wellness. Whether your needs involve improved CX, help desk support, online sales expertise, or social media management, experienced Anexa agents will represent your brand with commitment and authenticity, so that your business efforts can be spent where they matter most: building that brand.
Reach out to Anexa for information on how a BPO / outsourcing company can become your most valuable asset.