Below are some recently published trends in the global health, wellness and beauty market that provide opportunities for vendors to expand their business.
Health and Wellness
The global health and wellness market is often cited as the “next trillion-dollar industry” According to a recent report published by Garner Insights, there are three leading trends:
- Boutique Fitness
- Organic Diet
Clothing designed for workouts and other athletic activities that is worn in other settings, such as workplace and socially.
Smaller gyms that focus on community-like group exercise in one or two specific fitness areas. Popular studios include SoulCycle, Peloton, Orange Theory, Barry’s Bootcamp, CorePower Yoga, and Class Pass.
In the past, eating organic was more difficult because organic food was only available in specialty grocery markets. With the growing popularity of eating organic, now you can find organic milk, eggs, meat, fruit, vegetables, and more at local grocery stores.
According to an article in Salon Iris, modern salons are adding more technology, so customers can:
- Book, keep track of, and fulfill appointments including text confirmations of appointments.
- Information pushed to customers via mobile devices with product recommendations and reviews…
- Convenient spaces for customers to use technology including free WiFi and device charging stations.
People want an all-in-one inclusive experience termed the “spalon,” the combination of spa and hair salon. People want to come out feeling both gorgeous, rejuvenated and recharged. This doesn’t have to be a huge salon but adding a few spa-like services.
According to a Forbes Beauty Report, one of the biggest non-surgical advancements in technology is the removal of unwanted fat from any part of the body, from the belly to love handles and even double chins with cold temperature freezing and elimination of pockets of fat cells.
Many of these expansion areas require customers to add new equipment. If you want to learn more about how TimePayment can help, please contact us at [email protected].