Fear is known as a good motivator, since the beginning of the covid-19 crisis, health and wellness companies have capitalised on the growing awareness of illness and the importance of health. After an endless stream of news reports, advertising and media campaigns focused on health, has it left an impact on us to become more health conscious?
With multiple brands promoting products that boost our immunity, how has our perception towards health and wellness changed? In our latest survey we explored the effects of this among consumers. Our respondents were aged adolescents through to 40 year olds, a demographic that is most unlikely to need additional supplements for chronic health issues. When asked their opinion of how important it was to take additional supplements, a significant majority of 75% surprisingly answered: ‘Very Important’.
The main motivations behind taking supplements:
The medical debate for taking additional health supplements has strong arguments on both sides, with expert claims that if you are a healthy individual that eats a good well-balanced diet that includes all your nutritional needs, you don’t need to take anything extra. However, if you’re not getting everything you need from what you eat every day, you can take tablets with concentrated amounts of the nutrition you’re missing. 42% of our respondents recognised that they were not able to get enough nutrition from their diet, another 32% were very physically active at sports or the gym which also creates a need for taking additional supplements.
A competitive market:
Hundreds of brands fight for their share in this fiercely competitive and growing demand-driven market. For example, Vitamin C demonstrates this, it’s a basic entry level product both in terms of usage and price, with 83% of our respondents claiming to take it on regular basis. How do brands stand apart in this highly saturated market?
Seeking help from Health Professionals seems like the way to go for consumers, 71% of our respondents told us that they were advised by either a doctor or pharmacist to take supplements.
Moreover, we found that Blackmores, Bio-Life and Vita Health were the most popular brands that our respondents were considering to purchase from.
The changing perception:
More of us are buying into the health and wellness trend, with growing consciousness and awareness, 59% of our respondents agreed that taking supplements improves their quality of life.
This supports global data that suggests over the next 5 to 10 years the market is expected to grow another 8%.
Currently, our findings showed that 83% of our respondents were spending between $10 to over $100 dollars a month purchasing supplements.
To learn more about consumer behaviour and trends reach out to us.