Research can be invaluable for brands—an effective study allows marketers to see the both big picture and the details. But it needs to be the right research, conducted at the right time, asking the right questions. Otherwise, you’ll get statistics, but not the insights you want (and need) to build a brand.
Women’s Marketing recently collaborated with Rodale on original consumer research designed to explore and explain the modern “Health & Wellness” consumer mindset and delve into 2014 wellness trends. Wellness, defined as the quality or state of being healthy in body and mind, especially as the result of deliberate effort, is a mindset we believe has seeped into the lives of the everyday woman, and has emerged as a lifestyle here to stay.
Which Product Categories Account for the Increasing Wellness Market Size?
There are several common threads that stand out across the various definitions of wellness. Wellness is multi-dimensional, holistic, changes over time and along a continuum, and is most importantly individual, but also influenced by the environment and community. The next trillion dollar industry globally, the Health & Wellness market space is dominated mostly by beauty and anti-aging product sales at $679 billion, followed by fitness and mind + body exercise ($390 billion) and health eating, nutrition and weight loss sales ($277 billion).
Other product sales that complete the Health & Wellness market are complementary and alternative medicines, wellness tourism, spas, medical tourism and workplace wellness. In the United States alone, women invest $125 billion against their nutrition, $40 billion against alternative medicine and $25 billion against OTC drugs.
This year’s IAB MIXX Conference offered two days of useful content and insightful advice, emphasizing the need to engage consumers with creative storytelling that both reinforces an emotional connection and compels them to action. Women’s Marketing Research Director, Kerri Krom, was there and offers these five takeaways from the conference.
By Kerri Krom, Women's Marketing Research Director & Ann D'Adamo, Senior Marketing Manager
Say what you mean, and mean what you say. That proverb is particularly true when marketing to women. Messaging that comes across as trite or perpetuates outdated or negative stereotypes will instantly turn her off – and away from your brand. Equally important are corporate policies that align with her values – research shows that women want to feel good about the products they buy and companies they support.
Filed Under: Women in Media
Women's is the largest and fastest-growing segment of the shoe industry. Now it is more important than ever to zero in on women's shopping habits. As online footwear retailers have proliferated, consumers are exposed to a wider-than-ever variety of prices and styles so standing out in the marketplace is the challenge.
That stereotype of a woman with a closet full of shoes may be more accurate than you think! Last year, women’s footwear sales reached roughly $24.6 billion, representing the largest segment in the shoe industry, and it’s expected to keep growing. 59% of women cite needing to replace worn out shoes as their main reason for purchase, but 38% cite taking advantage of a great sale as the main motivator to buy. Cold winters in many parts of the country may have driven sales of outdoor boots, which saw double-digit growth in 2014, but women’s shopping habits show that they can often be swayed to purchase shoes at any time, so long as there is an incentive to do so. Brands that offer discounts or sales are inviting women to gift (with less guilt!) themselves, or their friends, with a little extra pep in their step.
Are you wasting the time, effort and budget that goes into your advertising by missing your key target? If your brand doesn’t reach the right audience, your marketing is missing the mark.
Make sure you find your target market and “hit the bullseye,” so that your message resonates with interested consumers, reaching only those who are in a need or want state for your product, as well as avoiding waste targeting those who will not convert to purchase.
Read the full blog post on how women shop here.
Filed Under: Beauty
The Easy, Breezy Beautiful Path-to-Purchase
Retail sales of beauty products reached $38.1 billion in 2014 and are projected to grow 2% each year to follow. By 2019, sales are expected to reach a whopping $42.5 billion. What else is so beautiful about 2015’s beauty industry?
Filed Under: Beauty