Exploring the world of wellness & brand purpose__
Nicole Levings AgencyTK
Creativity combats the superficial_ Our LA Director Nicole has been busy touring the UK to share her insights about which wellness trends will take over in 2020 and why brand purpose is here to stay. The wellness industry is now valued at $4.5 trillion globally and is predicted to grow to $12 trillion by 2030. While wellness is clearly taking the world by storm, what does it take to grow and succeed in the industry? Nicole broke it down for a broad mix of brands who came to discover the opportunities and posed questions to get them thinking about a future-proofed approach:
A new generation of consumers want to make a difference through the brands they engage with, from tackling climate change to poverty and inequality.Sustainable brands that adapt to these consumers’ needs will be richly rewarded with lasting consumer loyalty. But these brands need to integrate environmental, social and economic issues into their business operations to unlock success. It’s about story-living rather than storytelling. What a brand does rather than what it says will play a key role in demonstrating its values and purpose. And purpose is what allows brands to be both compelling and believable – it’s the difference between ‘yet another’ brand and a brand consumers really connect with.
A subset of consumers have emerged and they’re ripping up the rule book. Championing realistic and positive representations, they’re calling on brands to take a more considered and human approach.
Our LA Director Nicole has been busy touring the UK to share her insights about which wellness trends will take over in 2020 and why brand purpose is here to stay.
From self-care to self- improvement. 94% of millennials said they’d be willing to spend nearly £250 a month on self-improvement. What could your brand teach your customer in a practical, tangible way? Brands should explore the needs of their audience and add value to their journey.
CBD, the non-psychoactive, healing part of the cannabis plant has been shown to have calming and pain-relieving benefits. It’s being infused into a diverse range of products for physical and mental wellbeing benefits, from CBD lattes to pet products.
The CBD landscape is experimental and thriving. It’s predicted that the market will be worth almost £1 billion per annum by 2025.
Showcasing the power of innovation, CBD illustrates how brands should be entrepreneurial and seek improvement at every turn to stay relevant.
Brand purpose as a long-term movement.
Purpose is a higher order reason for a brand to exist, rather than just making a profit. It breeds culture and authenticity – something that both consumers and prospective employees search for.
Purpose is something you believe, not just something you make up as a marketing strategy. A great purpose should manifest itself in everything a brand does, from product development to customer experience. What does wellness mean to your business? And does your brand have a defined purpose to push it forwards?