The health and wellness industry comprises product, service and experience providers which cater to a broad yet imprecise cohort of consumers. Wares are delivered through a plethora of channels – from the hospitality sector, spas, fitness centres and spiritual arenas to lifestyle real estate, healthcare and medical institutes and nutritional/food-based businesses.
For all its vibrancy, however, the industry has grown in a decentralised manner and lacks standards, terminology and performance metrics. This has led to market confusion and makes it much harder for product and service providers to communicate genuine differentiation and establish brand loyalty. Consumers question why they should pay more or travel farther for top wellness resorts, for example, if they don’t perceive them to offer anything meaningfully different than affordable, local brands.
