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This week we describe
three thriving consumer trends and their potential impact on your
business.
1) Health-on-the-go
The
crossover of health and convenience presents a huge opportunity for your
business. It's no surprise that consumers are extremely interested in
improving their physical and mental well-being. Of course, all
of you recognize this trend because you see it every day in your businesses.
What's new
is the emphasis on making it easier for consumers to actually do something
about it.
a)
New approaches make it far easier and more enjoyable to practice healthy
living habits.
Prior approaches often required rigorous compliance with rules or programs
that many people found unpleasant or simply impractical.
For example,
100-calorie portion-controlled packages of cookies are much more appealing
to consumers than avoiding all carbohydrates, or swearing off Oreos
altogether. And lifestyle activities, which we discuss next, are much more attractive to many consumers than structured workout
routines.
b)
Consumers today prize convenience.
Aren't all
of your customers looking for an extra 24 hours? Heck, even an extra
thirty minutes would help.
Walk-in
pay-as-you-go clinics at supermarkets and discount stores are booming.
They're not just for people without health insurance. They also appeal
to people on the go who want to see a health professional immediately, in
their neighborhood, without having to plan ahead for an appointment.
The recent
emphasis on lifestyle activities appeals to convenience-minded consumers,
too. Walking at lunch, for example, doesn't require carving out extra
time to go to the gym or work out with an exercise video. And
activities like playing with kids and doing yardwork are much easier to fit
into busy schedules than a gym visit.
c)
Everyone's thinking about healthy eating.
Convenient
and healthy family meals are a priority. The surge in "meal
preparation and assembly" businesses like Dream Dinners is an example.
Customers travel to the Dream Dinners storefront, select the recipes they'll
prepare, assemble them using pre-chopped ingredients, and package them for
final reheating at home. It's easier - and healthier - than eating out
or choosing heavily processed convenience foods.
Here's what
you need to keep in mind:
Focus
explicitly on providing health and wellness programs and services that are
genuinely convenient for your clients and customers. Don't guess - ask
them what would make it easier for them.
Is it
absolutely necessary, for example, that they visit your office in person?
Perhaps they could log food and exercise data on the internet rather than
wasting time faxing it to you. If you have several clients clustered at one
employer, perhaps you can arrange to meet them there.
Would adding
evening or weekend hours be helpful to them? Is arranging childcare
burdensome for them? Would offering prepared food ready for pick-up be
valuable?
If you're
managing a wellness center or health club, wouldn't you rather be more than
just their gym? Customers would love it if your business were a
one-stop shop for healthy living, whether they choose to practice it at your
facility, at their home, in a city park, or a hotel room.
2)
Sustainability
Many customers view environmentally-sensitive practices which sustain our
natural resources very favorably. In fact, they often consider these
business practices in their buying decisions even when they themselves drive
gas-guzzling SUVs!
Americans
are increasingly aware of the risks to our environment resulting from
short-term thinking in areas ranging from agriculture to manufacturing.
Examples include heightened interest in organic foods produced using
sustainable farming methods, hybrid cars and biofuel.
Events like
Hurricane Katrina underscore the importance of environmentally smart
development that preserves trees and other natural structures which can
moderate the effects of extreme weather. And right here in Texas, for
example, it's increasingly obvious that traditional water-thirsty
landscaping just doesn't make sense when extended regional droughts are the
new norm.
Keep this
priority in mind as you plan facility expansions and landscaping.
Consider "green" building standards. Recycle where possible and
appropriate. Look for opportunities to conserve electricity, fuels and
water. Minimize packing materials where possible.
Important:
remember to let your community and customers know about your efforts.
You won't get credit if no one knows you're doing it.
3)
Demographic changes
In a
nutshell: the US is getting more ethnically diverse,
The largest
minority group is Hispanics, followed by blacks.
However, non-Hispanic
whites (for example, the classic "WASP") are a minority in four states: Hawaii, New Mexico, California, and
Texas.
Nationally, non-Hispanic whites make up about 67% of the US
population, down from 70% in 2000. Over time, virtually every state
and community will see a decline in the number of non-Hispanic whites and an
increase in other ethnic backgrounds, both Hispanic and non-Hispanic.
Here's
something that may surprise you: South Carolina and Arkansas have seen
the largest percentage increase in immigrants. While California, New
York, Texas and Florida have the largest total immigrant populations, these
individuals travel to other states when jobs are available and
attractive. In fact, in the last five years, all but three states saw
an increase in foreign-born population.
Three things
to think about:
a) First,
lifestyle and health concerns and practices vary by ethnic group.
Make sure
that your staff is well-informed about the lifestyles and concerns of your
potential and current customers. You don't want them to assume that
everyone's lifestyle is like theirs. And people often substitute
stereotypes when what they really lack is information.
b) Second,
your sales, marketing and community outreach need to reflect where your
community is headed, not where it's been.
Check your
community's demographic trends and plan accordingly. Don't assume that
your Heartland location or your small-town environment means you're immune to these demographic trends.
c) Third,
successful programs and services will reflect the needs of your target
customers.
For example,
many immigrant families have younger kids, so kid-friendly services may be
especially important. The church plays an extremely important social
role for some ethnic groups, so faith-based programs focused on healthy
living can be especially relevant.
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