The wellness industry is continuously evolving and due to the pandemic, many entrepreneurs have faced an uncertain business terrain. This is where Venturepark Labs' expertise comes in. To better understand the changing consumer landscape, we've outlined a few trends that are making an impact on the health and wellness industry and the Canadian innovators within our ecosystem that are embracing these strategic shifts.
1. Conscious Snacking
Working from home can be tough when, for some of us, it's only ten short steps to our pantry. Indulgence is still an important consideration when picking a snack during our afternoon pantry raid, but a new consideration in the wellness market is how to balance indulgence with nutrition.
Conscious Snacking has catapulted to the mainstream with the rise of intuitive eating entering self-care frameworks, encouraging shoppers to be more in-tune with their hunger signals. For the consumer, it’s less about tracking macro-and-micronutrients, and more about finding snack brands that are transparently communicating the health benefits that align with the purchaser’s values. Being mindful of intuitive eating trends means developing products that have both nutritional and health benefits, without promoting restriction to a person's lifestyle.
Accelerator alumni, Dear Snackers, is a perfect example of a conscious snacking brand that clearly communicates how its developed their product to be a nutritional powerhouse (+ it gets bonus points for its vibrant and creative packaging that's a stand-out on shelves!). Their line of puffed and roasted water lily seed snacks are vegan, sustainable, unique, and offer convenience for those who need a quick and delicious grab-and-go snack.
2. Upcycled Products
The upcycling food movement has inspired entrepreneurs to use their food and material waste in more creative ways. Shoppers value products that are sustainable and eco-friendly, but it's not always cost effective for the brand. One sustainable solution that has trended over this past year is using leftover material for repurposed products. In an increasing eco-conscious market, developing upcycled products are a win for the environment and a potential win for the entrepreneur in keeping steady growth with an innovative product.
No stranger to the integration of sustainable and ethical practices in their business is Kind Laundry, who graduated our program earlier this year. Kind Laundry’s Instagram gives plenty of detail on how it's incorporated recyclable material into its laundry detergent sheets and how the company continues to uphold its zero-waste standard.
3. Wellness Tutorials
This past year has seen a significant increase in home wellness practices. In the words of our founder, Arlene Dickinson, "Never before have we cared more about our health, or what we consume, and the value it brings to our bodies and our personal care." Whether it’s home cooking, fitness, or beauty routines - social media keeps users updated on the most innovative routines. There's also been a boom of online wellness communities with the emergence of new tech-app features (our favourite has been Instagram reels!), allowing entrepreneurs to create their own, localized community that connects people globally. Whether it’s a Tik Tok video or reel, social media has changed the wellness landscape to be more personalized and visual. Pursuing virtual options for your brand, like creating video content, that reflect different ways you can use your wellness product will also set your brand apart from other competitors.
Take Graydon Natural Skincare, for example. Their award-winning, results-driven vegan skincare line is loaded with health benefits. With the use of Instagram reels, Graydon has been able to showcase the company’s ethos and authentic wellness practices. Graydon also cleverly expanded their video content to incorporate the consumer with its Guru Club (Think influencer marketing, but even more accessible: any shopper who posts a video of their favourite Graydon Skincare product online receives credit towards their next purchase in return!). View Graydon Skincare’s reels here.
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