The global wellness industry is on a roll. There’s been an explosion in new wellness brands, categories and retailers, as well as traditional CPG players catching up. (And at the time of writing this blog [March 2020], they can make an important contribution to promoting physical and mental health during a time when we are at home and the normal pattern of our lives is put on hold). Wellness is already a $4.5 trillion market, represents 5.3 per cent of global economic output, and is expected to post a CAGR of close to 6 per cent between 2019 and 2023. In the US the corporate wellness market is likely to reach $15.5bn by 2024. Driving this growth are the influencers: social media celebrities who, as brand ambassadors or independent advocates, discover, develop, promote, endorse and sell health and fitness products and services to their millions of followers. Influencer marketing understands that human beings are social creatures. We shape our behavior according to what other people say or do. Successful wellness brands use that to create a sense of community, make their followers/customers feel part of a bigger tribe, a crowd of like-minded people sharing in something more than a commercial transaction. It’s not so much the fear of missing out (#FOMO), as the fun of fitting in (#FOFI) that is the big attraction. Social proof messaging replicates the influencer effect, offering evidence based on the wisdom of the crowd, that other buyers are involved with the brand, are purchasing or interested in the products and satisfied that a product meets their values and delivers its promise. There are four opportunities to put social proof to work across the online customer journey: Finally, health and wellness customers aren’t going to appreciate a hard sell. Social proof allows the retailer to connect with their tribe members without pressure. Carefully crafted and timed messages help to nudge shoppers towards a decision – importantly, the right decision – and drive quality demand. Taggstar is here to support retailers at this extraordinary time. Speak to us today to support your customers to make better buying decisions.
Want to spread FOFI (that’s the fun of fitting in?!). Here’s how social proof can support wellness retailers.
The global wellness industry is on a roll, and they can make an important contribution to promoting physical and mental health during this time.
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