Sometimes you don't want to mess with a good thing. But because the surging wellness movement is redefining most industries –– from food and beverage to travel and beauty –– smart companies are realizing that in order to excel in a changing space, they must either adapt their existing product lines or offer new ones.
Take Chobani, the leader of the U.S. yogurt market. The company realized early that excitement over Greek yogurt has waned and people have begun turning away from dairy products. In response to this, the company recently launched a new coconut-based yogurt line to appeal to dairy-free fans and capitalize on the growing demand for plant-based alternatives in the yogurt space. Though the line is a departure from what brought the company its initial success, Chobani realizes that if it wants to continue to grow, it's a risk worth taking.
"We have dairy in our veins for sure," Peter McGuinness, Chobani's chief marketing and commercial officer, told Fortune. "But there's this emerging non-dairy part of the yogurt aisle that's here to stay."
Hilton is also getting creative. It just opened London's first vegan-only hotel suite in an effort to appeal to the wellness-minded traveler. As more hotel companies like Hyatt make wellness a core value, it's wise for a brand like Hilton to find ways to get in on the movement, too. However, it's unclear whether this will be a one-off stunt or a new category for the brand. Regardless, any innovation around well-being is likely good for business, even if it's just a marketing move.
Other companies are hitting the market with interesting approaches: The Wrecking Club, Rage Ground, and other "anger rooms," looking to cash in on America's stressed-out state, and Ambrosia, a controversial "young blood" transfusion startup that's hoping to break into the biohacking sector.
While tactics can range from clever to creepy, we'll continue to follow the inventive ways companies continue to capitalize on the ever-growing wellness movement.
For feedback or news tips, reach out via email at email@example.com or tweet me @lesliebarrie.