Taking Charge: Consumers Grabbing Hold of Their Health and Wellness Drives $450-Billion Opportunity
While U.S. healthcare costs continue to rise, many Americans are avoiding the doctor and taking charge of their own health and wellness. With a wealth of information at their fingertips and a nearly endless array of strategies for getting and staying well, consumers are heavily embracing self-care activities. As a result, self-care has become a vast $450 billion market, spanning several CPG categories.
Consumers are taking a holistic approach to self-care, using a variety of products together for maximum impact on their health and wellness. This is blurring traditional category lines and leading to an expanded competitive set for brands. CPG marketers need to understand how the self-care trend is impacting their own and competitors’ portfolios and channels to deliver products and experiences that meet consumers’ evolving needs.
This paper outlines what’s happening in the self-care marketplace, including results from IRI’s proprietary self-care shopper segmentation, and how to capture the opportunity with consumers who have distinctly different attitudes, motivations and behaviors.