current
Health and Wellness Expansion
The health and wellness trend is growing, particularly among Gen Z, driving demand for related products and services, including mental wellness offerings.
Timeframe
near-term
Impact areas
Detailed Analysis
Health and wellness is a significant driver of consumer spending, with Gen Z's increasing purchasing power further fueling this trend. The success of brands like HOKA demonstrates the growing importance of health as a core consumer value. Retailers are integrating wellness offerings across categories, as seen with Target's Good & Gather expansion. "By strategically incorporating mental wellness products and services, and by emphasizing the intersection of health and beauty within owned brands, retailers can effectively tap into this expanding market and drive sales growth," suggests the report. This focus on mental well-being presents a substantial market opportunity, despite past challenges in the health services space.
Context Signals
HOKA's sales tripling in two years
Target's Good & Gather wellness line reaching $1 billion in sales in its first year
Global mental wellness market projected to reach $251.65 billion by 2031
Edge
Retailers could partner with healthcare providers to offer integrated wellness solutions and personalized health recommendations.
AI-powered personalized nutrition and fitness plans could become increasingly popular, integrating with wearable technology and health data.
Retail spaces could evolve to incorporate wellness centers and experiential offerings, blurring the lines between retail and healthcare.
