With every new trend or technological innovation, millennials tend to shift or even pivot their consumer behavior patterns. Brands in the beauty and wellness space must be volatile and able to predict these shifts and adjust to meet the demands.
For example, new data suggests that millennials are beginning to prefer attending a “Fitfluencer Retreat” rather than a traditional day spa. Spending a day focusing on wellness and self-improvement with their favorite influencer is said to overtake luxurious facials and spa serenity in the coming years.
These retreats focus on various exercises from yoga to boxing, HIIT, hiking, paddleboarding or even horse-riding. And attendees are coached through it all by “fitness headliners.”
Social media culture has millennials favoring “instagram-worthy” experiences rather than ones that happen behind closed doors.
So your challenge is to Millennial Proof your Business.
Partner with Beauty Bloggers and Fitfluencers for Workshops and Retreats. Hold how-to events on preventing wrinkles, treating acne dermatologically, lightening hair while avoiding damage, etc. You hold valuable skills and expertise people will pay to learn straight from the mouth of a professional (and of course free product giveaways at the end also help with sales).
An extremely popular example of this is “The Masterclass” a workshop held by Mario Dedivanovic, Kim Kardashian’s famous makeup artist. He travels to major cities around the world and charges $600 to $800 for a lesson and gift bag of makeup goodies.
Partnering with influential people will put your business on the map. If you’re the cosmetic surgeon trusted by a stunning model with 1.2 million Instagram followers, it is assumed that you must be one of the very best at what you do.
Millennials also like to make an informed decision before they buy. They want to do their research, check out reviews, compare pricing, that sort of thing. This is especially true for med spas and plastic surgery practices; augmenting your appearance is pretty serious business; we’ve all seen the show Botched.
So seeking out as many five-star reviews as possible can make or break your business’s conversion rate.
Amazon sellers will send out free product in exchange for “Honest 5 Star Reviews.” At Avintiv, when we hold giveaway competitions on Instagram for clients, we give people an option to double their chances of winning by leaving an honest 5 star review on Facebook.
If you don’t want to incentivize the process, you can also automate it by politely thanking the client for their business and asking for feedback a few days after the service via email. Or just ask a happy customer to do you a favor and write a review about their experience.
And we’re not just talking Yelp or Google, YouTube is also a great option to consider. And influencers can also factor into this.
Micro-needling or Collagen Induction Therapy is known to reduce acne scarring and replump tired skin. If I’m interested in this service I may look to a blogger on Youtube who’s gone through it before and shared his or her experience. You can partner with this type of influencer and offer your services in exchange for an honest review. Authenticity is key here. If I sense the review is bordering on too much of a sales pitch, I’ll click on another video.
Another way to millennial proof your business is to redecorate through their eyes. Transform your business into an Instagram-worthy experience. Imagine you’re a millennial in search of the next aesthetic backdrop to pose with for likes, then redesign your interior accordingly. It may sound silly but if people feel more inclined to post pictures and tag your location, it’s a great form of free advertising.
Millennials are definitely on board with this booming wellness industry; which doesn’t exclude beauty and skincare. All natural and organic products are all the rage right now and carrying these healthier alternatives may give you an edge in the competition. We’re also seeing an influx of products designed to combat environmental stressors that may cause damage to the skin such as UV rays, pollution, blue light from laptops and harsh ingredients. So keep that in mind to stay ahead of the market.
We hope you enjoyed Avintiv’s coverage of millennial consumerism in the beauty and wellness industry. If you have any questions feel free to contact us or leave a comment below.