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Target is introducing more than 1,000 new wellness products to help shoppers on their “wellness journey without stretching their budget.”
Items range from supplements and hydration boosters to training apparel, skin care, and functional beverages.
“Wellness has been redefined to encompass a more holistic way of living, and it’s different for everyone,” said Rick Gomez, vice president and chief food, essentials and beauty at Target. I am. “That’s why Target offers a service unlike any other retailer, with the ultimate purpose of supporting your wellness journey, whether you’re enjoying non-alcoholic beverages at Sechey or stocking up at Bloom for your daily veggies. We are offering the land to our guests.”
Many retailers have initiatives around a wide range of wellness categories. In addition to drugstores, grocery stores have a special focus on health and wellness products.
In recent years, beauty brands have seen a surge in demand for new wellness subcategories such as sleep, sexual intimacy, and ingestible beauty (edible supplements that promote skin, hair, and nail health). Last fall, Ulta expanded The Wellness Shop to 1,330 of its 1,374 stores.
But it’s rare for a mass retailer like Target to make a big push into wellness.
In its latest “Future of Wellness” study, McKinsey estimates the U.S. wellness market is worth $480 billion and growing 5% to 10% annually. Among U.S. consumers surveyed by McKinsey, 82% now consider wellness a top or important priority in their daily lives, and 58% prioritize wellness more than they did a year ago. . We found that Gen Z and Millennial consumers purchase more wellness products and services than older generations.
McKinsey has identified seven growth areas in wellness: women’s health, healthy aging, weight management, in-person fitness, gut health, sexual health, and sleep.
But wellness trends aren’t necessarily leading to healthier Americans. A University of Oxford study found that workers who participate in programs such as workplace wellness, mindfulness training, on-site massage, and meditation apps experience no benefits.
A recent Gallup poll found that rates of key physical health indicators such as obesity and diabetes have increased compared to before the pandemic. “While physical activity levels have managed to hold up, eating habits have deteriorated significantly across the country since 2019,” Dan Witters, director of happiness research at Gallup, wrote in a post.
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