What does the pursuit of longevity mean for beauty and wellness brands?

featured-post
category - strategy
sector - beauty
type - features
Features
sector - health & wellness
As consumers increasingly strive for enhanced health and longevity, they are turning to the beauty, health and wellness sectors for accessible, accredited and holistic products and services. Strategic futures analyst Nina Marston from The Future Laboratory explores the key takeaways from our new macrotrend, Longevity Lifestyles.

Our latest beauty, health and wellness macrotrend, Longevity Lifestyles, examines the growing desire among consumers not only to extend, but also to optimise their lives. According to the World Health Organization, the proportion of the world’s population aged over 60 will nearly double from 12% to 22% between 2015 and 2050. Life expectancy has been rising globally for two centuries, as shown in an Our World in Data study. But, despite advances in medical treatments, consumers are not necessarily physically healthier, given the prevalence of conditions like cancer and heart disease among older populations.

Nevertheless, the concept of ageing is evolving. Advancing technologies and changing perceptions of demographic boundaries and maturity milestones are leading to a growing acceptance that identities can shift and self-realisation can take shape on a continuum. This realisation is fuelling a growing curiosity and investigation into the process of achieving optimised health and life expansion through a longevity lifestyle.

Consumer investment in wellness has been growing steadily for years, further fuelled by the pandemic and a lack of trust in government institutions and policy restrictions that prevent consumers from pursuing desired healthcare outcomes. As a result, consumers have become increasingly self-reliant and habitually turn to self-care outside of traditional medical facilities. This includes taking care of their health at home or seeking specialised longevity clinics and retreats.

As consumers take control of their ageing process, more of them are looking to the beauty, health and wellness sector for scientific solutions, and technological advances are being filtered down to the consumer level in the form of accredited and accessible long-life products and services. Businesses in the health and beauty sectors are pursuing longevity through rigorous scientific research, exploring solutions in areas such as skincare, nutrition, IV therapies, wearables, biomarker monitoring and more. Notably, since 2020, some £4bn ($5bn, €4.5bn) has been invested in ageing drug development, according to David Sinclair, director of Harvard Medical School’s Paul F Glenn Center for Biology of Aging Research (source: The Harvard Gazette).

While advanced health solutions and care have traditionally been accessible mainly to the more affluent in society, there is a growing movement towards offering more inclusive and democratised access to longevity solutions and care. This includes personalised nutrition services as well as menopause symptom monitoring and care.

Beauty, health and wellness brands should focus on offering accessible products and services that are preventative, innovative and restorative.

Published by:

28 June 2023

Author: Nina Marston

Image: AI imagery by Sam Davies for The Future Laboratory

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AI imagery by Sam Davies for The Future Laboratory

Recommendations:

1.    Optimise longevity goals through science and technology
Given that consumers increasingly look for accredited and innovative products and services, there are promising opportunities for beauty, health and wellness players who invest in cutting-edge science and technology as a focal point in developing longevity solutions in terms of ingredients, therapies and devices. 

2.    Develop an accessible and personalised approach to longevity products and services 
Businesses can consider providing consumers with products and services that offer data and information necessary to achieve personalised health outcomes. This can include diet, fitness and mental health recommendations to address specific ageing challenges. Regular health check-ups through subscription-based platforms, treatment programmes, apps or wearable technologies are solutions that brands can investigate to address consumers’ longevity needs.

3.    Explore hospitality-centred longevity experiences 
Beyond purely scientific and technologically enhanced betterment, consumers are also looking for longevity through holistic experiences, for physical, mental and emotional care and optimisation. Beauty, health and wellness hospitality experiences are an obvious appeal for longevity-focused consumers and a promising opportunity for brands given that the wellness tourism market is booming. Brands can consider offering treatments and services as part of a holistic wellness hospitality experience, as exemplified by Six Senses' collaboration with biotech company Orgenesis, which aims to make longevity feel like a holiday with its RoseBar collaboration.

4.    Champion democratised longevity 
Traditionally, technologies and advances in wellness and healthcare are primarily financially accessible to the wealthy. But across generations, consumers are seeking kinesis and purpose, and are connecting through values such as empathy and optimism, rather than age. Therefore, it is increasingly important for brands to demonstrate commitment to these values and to build philosophies of inclusivity around their longevity tools and services so that they are financially and globally accessible.

Our team of strategists have developed a wide-ranging set of strategic decision-making tools to help provide future-first solutions for our clients. If you would like to discuss how our Redemptive Diets macrotrend could support future planning for your brand, or if you have any questions about embedding our macrotrends into your business, send us a message at hello@thefuturelaboratory.com. We look forward to accelerating into the future with you.

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