– Better informed consumers will reward retailer innovation in the New Year
– The industry's most powerful attribute engine, SPINS' Product Intelligence, is giving retailers a strategic edge over competition
– Research points to continued category growth across Vitamins & Supplements, Body Care, and Alcohol
CHICAGO, Dec. 17, 2021 /PRNewswire/ — 2021 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. SPINS Product Intelligence (PI) helped the wellness industry navigate these issues and is poised to help retailers and brands accelerate innovation in 2022. SPINS predicts that for the retail industry, this coming year will see accelerated investments in innovation and more rapid consumer adoption of products that fulfill the needs of their wellness journey.
Using Product Intelligence, SPINS has created and released year-end trends report* that provides deep insights into how consumer preferences are translating to shopping behavior. SPINS (PI) deploys machine learning, proprietary attribute mapping, and human knowledge to add a layer of intelligence that enhances the usefulness of raw product data. Product Intelligence helps retailers provide innovative merchandising, inform consumer experiences, and facilitate shopper discovery.
"Product Intelligence plays a critical role in helping retailers understand emerging trends and identify the innovation they need to help meet the changing requirements of their customers," said Tony Olson, CEO, SPINS. "We currently have over 380 consumer-facing attributes and over 1 billion data points that are able to identify actionable insights around innovation for both brands and retailers. An example of the power of our Product Intelligence is our omnichannel view of supplements, which shows that while in-store has over 70 percent of volume, almost two-thirds of the growth in this category is coming from online. This is the type of trend data retailers need to compete and succeed in the ever-evolving consumer omnichannel spending world."
NEW SPINS PRODUCT INTELLIGENCE TREND DATA
The health and wellness industry has seen a secular shift in consumers' focus toward better-for-you products. And while the spotlight typically falls on food and beverage, newer areas of considerable growth include alcohol, vitamin and supplements, and clean label skincare. New research shows that shoppers are applying the same attention to the ingredients in a variety of everyday products that they use as they are in their meal ingredients. To be able to better track changes in these areas, SPINS launched new attributes in August and the latest information highlights a need for these categories to be on the radar screens of retailers going forward. New trend data includes:
Vitamins and Supplements
New consumers were introduced to supplements during the pandemic, and we are seeing that translate to significant growth in areas of cognitive health, sleep support, and performance nutrition.
Vitamins & supplements saw 43% YoY growth on Amazon.
Adaptogens and Nervines are both seeing growth. These are groups of herbs that contain ingredients like Ashwagandha, Lemon Balm, and Eleuthero. While Adaptogens are said to help build resistance to stress and nourish the glandular system, nervines are traditionally used to sooth stress and ease the mind.
Probiotic ingredients are being used in extended applications that include more than just microbiome support. These bacteria can also be used to promote well-being and ease stress.
There is attention on emotional wellbeing and stress support in the ever-changing COVID era.
Body care categories are recovering from the dip they saw during lockdowns. Clean label products are driving growth with commonly avoided ingredients declining in most categories.
Shoppers are choosing cleaner label products. This is causing all types of brands/manufacturers to shift toward cleaner formulations.
Discover what ingredients are motivating and resonating with shoppers across the Body Care department with Product Intelligence attribution. Ingredients that are growing quickly – Bakuchiol, Charcoal, Turmeric, and Hyaluronic Acid.
Ready to drink (RTD) cocktails are here to stay. Up 143% over the past two years, these cocktails are convenient and offer an alternative to traditional RTDs in alcohol, most commonly beer. They also make it so you don't have to be a mixologist at home, providing specialty crafted options. Non-alcoholic beverages are up 29%.
Hard Seltzers slow down but continue to outpace Beer after record growth for both during shutdown
Energy & Grocery brands break into FMB/Seltzer capitalizing on a crowded market through instant shopper recognition and pre-built brand capital
*To view a recent webinar that looked at new Product Intelligence fueled year-end data report, click here.
SPINS LLC is a wellness-focused data company and advocate for the Natural Products Industry. Over the past two decades, the wide adoption of SPINS' Product Intelligence has led to a common language used across the industry as well as laid the foundation for the next generation of innovation, while providing dynamic data, actionable insights, and digital activation solutions that drive growth for our clients & partners and contribute to a healthier and more vibrant America. Learn more at www.spins.com.
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