Innovation in wellness, health set for 2022 – Store Brands Magazine
SPINS, a wellness-focused data research company, has released a year-end report on what trends are expected to carry-over into 2022. Using product intelligence, SPINS is predicting what trends and innovation are attractive consumers, giving insight to private label brands. The company recently teamed with Cornerstone to develop a technology that provides digital information on private label products.
“2 021 will go down as one of the most challenging years for retailers, from supply chain issues, staffing struggles, shifting shopper behaviors, and meeting the needs and demands of smarter consumers, ” said the company. “SPINS Product Intelligence (PI) helped the wellbeing industry navigate these issues and is poised to help retailers and brands accelerate innovation in 2022. SPINS predicts that with regard to the retail industry, this coming year will see accelerated investments in development and more rapid consumer adoption of products that fulfill the requirements of their wellness journey. ”
Highlighted information in the SPINS Product Cleverness trend report includes insights on vitamins and supplements, body care and alcohol.
“Product Intelligence plays a critical role in helping merchants understand emerging trends and identify the particular innovation they need in order to help meet the changing requirements of their customers, ” said Tony Olson, CEO of SPINS. “We currently have over 380 consumer-facing attributes and over 1 billion data points that are able to identify actionable insights around innovation regarding both manufacturers and suppliers. An example of the power of our Product Intelligence is our omnichannel view of dietary supplements, which shows that while in-store has more than 70% of volume, almost two-thirds of the growth in this category is coming through online. ”
In the nutritional vitamins and health supplements category, MOVES reported that new consumers were introduced to products during the pandemic, with the category seeing 43% YoY growth on Amazon. Areas within the group like cognitive health, sleep support plus performance nutrition are on the rise, with probiotics, adaptogens and nervines also seeing development. SPINS found ashwagandha, the plant known for its stress-reducing properties, was the particular fastest growing item in the class.
In body care, clean label products are driving growth. Shoppers are choosing cleaner brand products, causing all brands to shift their formulas to fit the trend. ROTATES said that will ingredients that are growing in the particular body treatment category are usually bakuchiol, charcoal, turmeric plus hyaluronic acid.
Finally, in alcohol, ready-to-drink cocktails were up 143% over the past two years as an alternative in order to beer. Hard seltzers are slowing down within growth, but still continue to outpace beer. Non-alcoholic beverages are up 29% in 2021 compared to last 12 months.
The particular full statement can be found here .