One Stop Shop - Palatable and Delectable Wellness Grocer
At A Glance
- Inflation rising and healthcare costs becoming expensive consumers are reflective on their grocery needs
- The macro events that have shaped the world in the years that went have made the perspective on health more diagnostic than preventive
- Food as medicine, a concept is now taking shape with the shift in mindset of administration policies towards preventive health care
- Digital natives entering this space are bringing together wellness and health in the basket of groceries at the supermarket
- Grocers need to ride the next wave of personalized wellness to propel profitability under an umbrella
The ambit of holistic wellness has been more reflective in consumer’s lives today, the world order reshaping its lens organically. Envisioning food as medicine is gaining prominence today, words of wisdom memorialized by Hippocrates in the 25th century BC “Let food be thy medicine and medicine be thy food.”Grocers expansion in wellness is pivoted in the present day and millennials are endorsing this concept.
Data from the National Center for Chronic Disease Prevention and Health Promotion suggests that 90% of annual healthcare costs are a result of chronic conditions and mental health. Aligning with healthcare realities, the US administration policies aim to address food insecurity, reduce chronic conditions and overall healthcare costs. Grocers are raising the ante in their contributory role in personalized wellness. Leading grocers are setting the pace with programs including Walmart’s Easy Vitamin plan, HyVee’s Vitamine wellness, Albertson’s partnership with pinterest, and Giant Food’s health podcast.
The American shopper expects personalization on individual needs that address mindfulness and overall health. In the data driven, technological world the millennial shopper has a plethora of opportunities to meet their evolving demands. The next-generation of loyalty and brand includes the many aspects of health that can be treated in the grocery basket. Multi-utility value in a single offering has become the differentiator of the future.
The Invigorating Millennial
Technophiles will account for 75% of the workforce by 2030 and define the landscape of grocery retail in the next decade. Data-driven agile thinkers, born in the dot com era, and grown in the cloud are digitally conscious about privacy and confidentiality of data.The cookiepocolypse is a driver for hyper personalization and value-driven approach to engage this cohort of shoppers. 80% of shoppers seek digital convenience and shop via a retailer’s website and app, soldering a habit created out of adversity. The shift in consumer behavior is radical, from a sustenance based diagnostic approach in treating wellness to a more holistic and preventive mechanism built on sustainable behavior and regulated consumption. As per an INCISIV study, 78% millennials prefer shopping for pharma and personal care products online, maintaining privacy and convenience. 65% of Millennial consumers on average when visiting grocery stores have a basket value of $100 and healthcare startups have monthly subscription services ranging from $50 to $100. Convenience and Health is a constant value for the future generations and when premiums equal average order baskets you won't refuse food as a healthy medicine. When it comes to personalization only 26% are exceptionally happy with personalization accorded to them and 26% are happy with a product’s ability to meet their requirements. When delivery of convenience is a measure, 64% prefer home deliveries of their groceries, prescription, and personal care products. Shoppers want premium products personalized to suit their individual needs delivered through a convenience platform that encapsulates healthier outcomes from value driven products. Is 2023 the year, the grocery ecosystem will traverse the wellness umbrella?
Remedied and Functional
There is a definite repositioning in the shopper’s mindset towards health and an incremental shift towards holistic wellness in the existing structures of government policies. Mounting inflation and healthcare costs have had an impact and the healthcare industry is slowly shifting from its diagnostic outlook to a preventive one in shaping the future of retail healthcare. One in three Americans dies due to heart related chronic illness and one in three Americans are expected to develop diabetes in their lifetime as per data estimates from the National Center for Chronic Disease. Food security, meals planned to treat biological anatomies, healthy guts, and prescribed vitamins to suit body types are the preventive care solutions designed to wither away chronic conditions. The Biden Administration in its commitment to transform the vision of healthcare and improve the mental health, lifestyle, and overall wellness of its citizens announced $8 billion as part of call to action in September 2022. To transform this vision, in October 2022 it expanded its scope to include certified behavioral clinics to counsel on health and substance abuse and in December 2022 announced the provision of 8 monthly Covid-19 home tests to be covered under insurance.The cultural and social shift in the attitude of treating food as much more than fuel is rooted in self preservation and self care. The future grocer will be the one-stop solution to address not only instant gratification of flavored meals but a caregiver to families.
This new mindset of policy making has led to a number of digital natives in this space to fill the voids in the American community whose lens of lifestyle is sagacious.
Nutrition - Up close and personal
Culina Health - A personalized nutrition platform founded in 2020 delivering nutritional coaching by understanding your lifestyle, offering session support with registered dieticians with the ease and accessibility to schedule your appointments on your mobile app. The service costs $169 dollars a month covered under many insurance providers.
WelloryHealth - Founded in 2019, a solopreneur venture by a woman to cure the anti-diet approach that most get wrong. It's a health tech company that offers personalized nutrition at $89.99 monthly while connecting you with a preferred registered dietician who shares your life’s goals on their app and helps make it a reality.
Season Health - A digital pharmacy founded in 2019 that supports management of chronic diseases by curating palatable weekly meals suited to specific body types, variety in food preparations to sustain long term behavior, prescribing vitamin prescriptions while taking care of delivery logistics and following up reimbursements from insurers under food as medicine platforms. Personalized plans and concierge ordering for under $75 monthly.
Supergut - Founded in 2019 this nutrition brand lives on the foundation of family experiences and science. Clinically validated and proprietary constituents form the supergut shakes, bars, and fiber mix. Balancing healthy living with a strong and immune gut is the mantra of this startup which offers its packs after selectively evaluating your answers from its wellness quiz. Subscribing to Supergut will offer you a discount and boost your basket at $74.25 monthly.
Ombre - Founded in 2016 this personalized microbiome nutrition testing app customizes your supplements and personalized food recommendations after understanding your results from its provided at home kits.One time purchase of $99 offers you understanding of the biological microbiome system and probiotics to boost your immunity.
Viome - Founded in 2016 this tech health company uses AI to understand your biological gut anatomy and customizes prebiotics and vitamins delivered to your doorstep through its proprietary gene technology that boosts overall immunity at a monthly subscription ranging from $59.99 to $199.
Phenomenal Woman Syncing
Foodperiods - Founded in 2017 by women for women, a wellness app addressing women's problems from menstruation to menopause, hormonal acne, and bloating. Its vision is to address women's health by infusing natural micronutrients found in seeds at $23 monthly and keeping the body from synthetic pills.
Womaness - Founded in 2021 this wellness and beauty brand provides solutions to women post their mid life in dealing with symptoms that come with age and boosts menopositivity through guided inspiration, community building education, and wellness products. A one-stop solution for menopausal symptoms faced by women curated by nutritionists, gynecologists, and skincare experts under an umbrella focussed on women's menopausal health.
Allarahealth - Founded in 2020 this telehealth startup addresses solutions towards PCOS(polycystic ovarian syndrome) by offering solutions in medical test diagnosis, meal plans, daily check-ins by registered dieticians to guide members, and strengthening member resolve to offset illness by community support and educational content. Subscriptions vary from $50 to $169.
Wellness Grocery Warriors
Grocers have expanded their horizon to encapsulate a growing community of inventory in their umbrella by launching ventures incorporating wellness including personalized nutrition services, podcasts, vitamins, and more in the wake of preventive healthcare and inflation. The food as medicine industry is expected to become $1.5 trillion by 2030. Grocers will need to upgrade services in the domain of health and food to enjoy a wholesome appetite in the market share of wellness. Food as medicine is best rooted in grocers' offerings and the decade that traverses will often see health and food being synonymous.