Health and wellness has become one of the most popular industries in North America. People are more health-conscious than ever before, and they are looking for ways to improve their lives.
With the stresses of modern society, more people are turning to health and wellness products to help them relax, feel better, get rejuvenated and find balance in their lives.
But how can we best understand the target market for health and wellness products and services? What are their needs and wants? How do they select one health and wellness product or service over another?
In this article, we will explore the target market for health and wellness by answering some of these questions. We will also discuss some of the key factors that influence the purchasing decisions of customers in this market.
Understanding the Target Market for Health and Wellness
One of the best ways to segment the target market for health and wellness is by understanding customers’ motivations for acquiring health and wellness products and services.
So why do people turn to health and wellness solutions?
Answering this question and understanding people’s motivations gives us the following segments of the target market for health and wellness:
- People who are stressed
- People who want to improve their physical well-being
- People who want to look and feel younger
- People who want to boost their energy levels
- People who want to live a healthier lifestyle
- People with an illness or chronic condition
- People who want to prevent illness or disease
- People getting older and wanting to age gracefully
As you can see, the target market for health and wellness is quite diverse. And within each segment, there are different needs and wants. Let’s look at each of these segments closely.
1. People who are stressed
Stress is a common condition that affects people of all ages. In fact, according to the American Psychological Association, more than 70% of Americans report experiencing physical and psychological symptoms due to stress.
So it’s not surprising that many people are turning to health and wellness products and services to help them cope with stress.
Some of the most popular solutions include yoga, meditation, aromatherapy, and massage therapy.
2. People who want to improve their physical well-being
This segment of the target market for health and wellness is interested in improving their overall physical health and fitness.
They could join a fitness center because they might be looking to lose weight, get themselves in shape, train for a sporting event or just feel better overall.
Some of the most popular solutions for this segment include fitness programs, nutritional supplements, and weight loss products. This market segment is also likely to purchase fitness products and use fitness apps to track their progress.
3. People who want to look and feel younger
This market segment turns to health and wellness products to look and feel younger. They might be concerned about wrinkles, age spots, or other signs of aging.
Some of the most popular solutions for this segment include anti-aging creams and serums, botox injections, and cosmetic surgery. They may also visit tanning salons to give a special tone to their skin.
This segment of the market will also turn to cosmetics and beauty products to achieve a younger look.
4. People who want to boost their energy levels
Many people turn to health and wellness products and services to help them boost their energy levels. This might be due to a busy lifestyle, lack of sleep, or other factors.
Some of the most popular solutions for this segment include energy drinks, vitamins, nutritional supplements, and starting drinking green tea.
When it comes to snacking, this same group will turn to healthy snacks which are known to help keep energy levels boosted for a longer time.
5. People who want to live a healthier lifestyle
This segment of the target market is interested in making healthy lifestyle choices. They might be looking to eat healthy, drink healthy, exercise more, or quit smoking.
Lifestyle changes can include fitness programs, nutrition counseling, and smoking cessation products. Such people are likely to switch to eating organic and start using natural products on their bodies, like natural hair products and natural skin care products.
As part of a diet change, they may even give up meat, start eating more fish, or switch completely to vegan food.
6. People with an illness or chronic condition
This segment of the target market is made up of people who have an illness or chronic condition. They might be looking for ways to manage their condition, cope with symptoms, or improve their quality of life.
Some of the most popular solutions for this segment include medications, therapies, and home care products.
Very often these people may have a physical therapist visit them at home as part of a home health care service.
7. People who want to prevent illness or disease
Many people proactively start using health and wellness products to ward off illnesses or diseases. They might be looking to improve their overall health, reduce their risk of developing a chronic condition, or just live a healthier lifestyle.
Some of the most popular solutions for this segment include vitamin supplements, screenings, and healthy lifestyle choices.
8. People getting older and wanting to age gracefully
This segment of the target market for health and wellness is made up of people who are getting older and want to age gracefully. They might be concerned about their physical appearance, health, or mental abilities.
They may start doing yoga, tai chi, or other forms of exercise to stay physically active. They may also take supplements to improve their health or cognitive abilities. Many such people also like to like to light an aromatic candle and practice meditation.
As you can see, there is a wide range of target markets for health and wellness products and services. And within each segment, there are different needs and wants. By understanding the needs of each segment, you can better target your marketing efforts to attract more customers.
Decision factors when choosing a Health and Wellness product or service
Once someone decides that they need a health and wellness product or service to help them overcome whatever problem or challenge they are facing, they tend to choose a solution by asking several questions. Let’s look at this these questions that influence their purchase decision.
Will this product or service actually solve my problem?
The most important factor influencing a health and wellness purchase decision is whether or not the customer believes that the product or service can actually solve their problem. If they don’t believe it will work, they won’t buy it.
This is why a product recommended by a health care professional, a friend, or a family member is often seen as more trustworthy than one that is not.
Is it safe?
Another important factor influencing a health and wellness purchase decision is safety. Customers want to know that the product or service is safe to use and won’t cause any harm.
Can I afford it?
Another factor that can influence a health and wellness purchase decision is affordability. A service can seem affordable at first but if it requires multiple sessions or products over time, it can become quite expensive. Most people don’t want to convert healthy choices that they make into a long-term care problem.
Is this going to be convenient for me?
Convenience is an important factor influencing the purchase of a health and wellness product or service. Is the product easy to use? Is the service easily accessible? Customers want to know that the product or service will not take up too much of their time or require a lot of effort.
Will it take a long time for me to get healed?
Before signing up for a health and wellness service or buying a product people would like to know how long it will take to see results. Most people are enthusiastic at the start but if they don’t see results quickly they will likely give up.
So it’s better to have clear expectations from the start as to how long a health and wellness cure will take before the customer starts to feel better.
Will it require a sustained commitment from my side?
Linked to how long it will take them to see results is the question of commitment. Some types of therapies do not require much from the patient after they have started, while others might require regular sessions or taking medication every day.
Some of the most difficult commitments have to do with eating and lifestyle changes. People might be willing to try a new diet for a week or two, but it is much harder to stick to long-term changes. Other difficult commitments are related to giving up addictions like smoking or drinking.
Summary
The target market for health and wellness products and services is extremely broad. It includes people who are stressed and are looking to help them cope with it. It includes people who are looking to improve their physical well-being, trying to look younger, looking for ways to boost their energy levels, and attempting to live a healthier lifestyle.
Health and wellness products and services are also needed by those who are ill. People with a chronic condition or an incurable illness may turn to health and wellness products and services to help them manage their condition and deal with the symptoms. On the other side of this coin are those who are looking to prevent illnesses and ward off diseases by using health and wellness products and services.
When deciding which health and wellness product or service to use, people first and foremost like to know whether it can actually solve their problem. They also want to know that it is safe and doesn’t produce any counter effects. Affordability and convenience of use are also important factors. And finally, people want to know what commitment will be needed from their side and how long it will take for the solution to start producing results.