GMDC in partnership with global strategy and management consulting firm A.T. Kearney released the results of its Health, Beauty and Wellness Benchmarking Report to give retailers insight into how they can leverage the latest marketplace trends to improve their performance in these key categories that have significant growth potential for brick-and-mortar retailers.
Recently released at GMDC’s 2018 Health Beauty Wellness Conference, the report describes five ways retailers can rethink their approach in the health non-Rx and beauty sectors to take advantage of their high-profit potential:
- Be on trend: Successful health, beauty and wellness (HBW) retailers must understand consumer behavior and tastes.
- Create narratives and tell stories: Retailers who create a broader story around category offerings, not just merchandise products, are seeing greater success in HBW.
- Educate consumers: HBW narratives should be reinforced through in-store and online consumer education. Retailers should be providing shoppers with information such as ingredients, sourcing, benefits, etc.
- Provide services: The shopping experience should be connected to services aligned with consumer need including dieticians, nutritionists, beauty consultants, etc.
- Be online: Retailers driving growth in HBW have a relevant online presence that supports the in-store category strategies.
Andrew Knight with AT Kearney