As a result of economic turmoil, many Americans are experiencing a decrease in discretionary income, and therefore practicing more intentional spending. In August of 2022, nearly 35% of people said they’re spending less than usual.
Intentional spending means consumers are focusing their spending on purchases that align with their values, goals and needs. So, to draw consumer spending to your VMS brand, you must showcase how your ingredients play to consumer values and trends.
Audience Youthening: Gen Z Enters the Workforce
As Gen Z enters the workforce and earns discretionary income, VMS brands’ target audience is shifting. This generation has been named the most critical consumer group, with 23% of Gen Z online shoppers going as far as boycotting a brand. All of this to say that brands must prove themselves in order to earn the money in Gen Z’s wallets.
Gen Z believes that generations before them represent overconsumption, capitalism and materialism. This thought process has led to a demand for sustainable, high-quality products.
Sustainable Products are Trending Across All Generations
Of Gen Z consumers, 28% consider environmental sustainability when choosing their vitamins, minerals and supplements. Gen Z has the strongest stance on sustainability, but this trend towards sustainable products spans all generations with 19% of millennials and 16% of Gen X considering the environment when purchasing vitamins, minerals and supplements.
The large segment of consumers that value sustainability and are willing to pay more for products that align with their environmentally friendly values. It’s estimated that around 70 percent of all consumers would pay up to 10 percent more for sustainable products.
Growing Demand for Naturally Sourced Ingredients
A large segment of consumers also find value in natural, transparent sourcing; 40% of consumers are looking for all-natural ingredients. Similar to the sustainability trend, many consumers are willing to pay a premium for transparent supply chains and naturally sourced ingredients.
If your ingredients have a story to tell related to quality, sourcing and/or sustainability, embrace it! Be transparent about it and make sure your clients and potential clients know about it! These are the qualities end-consumers are looking for. These factors can provide extra value to the end-consumer and sway their purchasing decisions.
The experts at ColinKurtis Advertising can help you understand your target audiences and create marketing strategies that effectively display the value of your vitamin, mineral and supplement ingredients and products. To learn more, contact Mitch Robinson at Mitch@colinkurtis.com or call 815-965-6657 EXT. 1.
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Vice President, Client Services