becca editorial final stage 1

• 2 •

Foreword

Introduction

Rationale

Aims & Objectives

Methodology

Chapter 1 - The Proliferation of Wellness

Chapter 2 – Do More, Have Less

Chapter 3 – Emotionally Invested

Chapter 4 - #Lifeaholics

The Insight

The Future: Opportunities and Recommendations

Conclusion

References and Bibliography

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contents

• 3 •

Working at 110%, with a propensity for party

season hedonism; compensating with a fitness

and green juice obsession.

Don’t be alarmed – it’s sustainable – for now. But

these fast paced, endorphin fuelled habits are

deep-rooted and persistent. Competitive job

markets, rising living costs and FOMO (fear of

missing out) do nothing to offer relief.

I’m the lucky one though – to be reaching maturity

and eyeing up the dizzy heights of a career ladder

in an age where Buddhist meditation practice is

embraced by even laggards and asking for

‘dressing on the side’ no longer results in a raised

eyebrow. As with any trend, it’s interesting to

consider how exactly it will impact yourself

directly and the fast growth of the wellness

movement is one that subconsciously looks to

have changed my lifestyle.

I’m a healthonist.

foreword

• 4 •

There’s now no denying what’s bad for us; the

digital revolution ensured answers to most

questions are only a click away and thanks to this

people are exercising more, adopting flexitarian-

ism, washing on 30oC and frankly; avocado is the

new orange. I choose oat milk over cows’ milk,

strong over skinny, and wouldn’t think twice about

hopping on a plane to immerse in a brand new

culture. After all, my generation is fuelling the

experience economy.

So in a day where living a meaningful and happy

life, is fraught with info-overload, distraction and

temptation, it begs the question; will the divergent

ways of myself and my peers be accountable for

changing the model of a consumerist society?

• 5 •

introduction

• 6 •

Wellness is a key growing sector in the western economy,

representing 5.1% of global economic output and in 2015

valued as a $3.7 trillion market. The societal trend for

establishing long term, sustainably happy lifestyles via

finding optimal mental and physical health, has arguably

fuelled the growth of the industry. An explanation for this

could be that the collective idea of the ‘American Dream’ is

shifting from one ultimately chasing materialism, to one

understanding what it means to “live the good life.” –

resulting in a mass devaluation of the dominant cultural force

that is consumerism. (Gregoire 2013)

Defined as a theory that assumes progressively greater

consumption of product, is economically beneficial, it has

underpinned a capitalist culture that encouraged consumers

to develop attachment to materialistic values or possessions,

for decades. Historically, consumers understood this belief

system could address personal dissatisfaction as “it promotes

consuming as the path to self and social improvement.”

(Gregoire 2013) Upon entering 2017, however, it’s expectant

that cultural norms in western society are going to witness a

period of great change.

• 7 •

The millennial generation is coming of age to reach peak

spending power; and as a result of technological

development, globalisation and economic disruption, they

have vastly different priorities, expectations and values to the

generation before them. Consequently, a new meaning of

consumerism is being unearthed, as research suggests

consumers are searching for the root of true wellbeing and

happiness, not more ‘stuff’. (Hutton 2016) This raises the

question therefore; How will companies respond to this shift,

and to what extent are consumer concerns regarding their

wellbeing, tangibly changing habits of consumption?

rationale

• 8 •

Since the financial crash in 2008, politicians have openly discussed the

meaning of quality of life. (The Economist 2014) In 2010, former British Prime

Minister David Cameron spoke about the importance of the ‘phenomena’ at the

Google Zeitgeist conference, he said; “Wellbeing can’t be measured by money or

traded in markets. It’s about the beauty of our surroundings, the quality of our

culture and, above all, the strength of our relationships. Improving our society’s

sense of wellbeing is, I believe, the central political challenge of our times. “

Subsequently, conversations on topics of happiness, work-life balance and the

acclaimed revolutionary ‘work-life integration’ have intensified, particularly

among the millennial generation born between 1980 and 2000 (Sarti 2016). This

report will purposefully focus on the behaviours and opinions of this key

generation, as in the next decade, they are set to move into the peak of their

careers and prime spending years; overtaking the ‘baby boomers’ to become the

largest generation in western history. As a cohort, they are arguably redefining

what it means to be successful; as they witnessed the decade above them

struggle under pressure to feel fulfilled by ‘having it all’.

As a result, health (both mental and physical) is a matter of necessity, not

superficiality. (Reyner 2013) Millennials’ pragmatic approach, therefore suggests

they treasure memories and relationships over money, which has fuelled a

transition towards post materialist values; placing priority on belonging, self-

expression, opportunity, diversity, community, the environment and quality of

life. (Beaton 2016)

• 9 •

Essentially, understanding the behaviours and motivates of Millennials, is crucial for estab-

lishing what will influence the economy in the not so distant future. (Hoey 2016) Therefore,

the research in this report aims to understand millennials’ priorities and opinions, concluding

with an appreciation for the extent to which the prioritisation of wellbeing is re-defining

what and how they buy. The implications of this study will ultimately provide an insight in

how the wellness trend is impacting millennials’ values and behaviours, which in turn, can be

used to inform brands strategic and creative decisions.

aims & objectives

• 10 •

• To understand how consumers perceive wellbeing; and what the benefits and

consequences are to achieving ‘optimal wellness’ in their lifestyles.

• To realise what is driving millennials’ awareness of their wellbeing

• To investigate if consumers desire for a healthy way of life translates in their

purchase decisions and lifestyle choices

• To understand the value of experience Vs material goods; and the impact it has on

wellbeing

• To explore how retailers are responding to consumers’ wellness goals

• 11 •

AIM: To investigate the extent to which millennials’ prioritisation of wellbeing is influencing consumerism in the western world.

Secondary research was advantageous within this study as it

provided context and allowed for comparison with data

collected by the researcher, therefore permitting triangulation

of findings which increased the generalisability of conclusions.

(Saunders, Lewis and Thornhill 2012)

However, limitations have been acknowledged. To a certain

degree, there is lack of control over data quality and bias of data

presentation, if the purpose of the reviewed research was different

to the research aim of this project. With this in mind, only

reputable sources have been examined and a critical approach

was taken when evaluating secondary data and documents to

ensure maximised reliability and validity.

Extensive secondary research was firstly conducted by

examining existing literature written on the topic area, to

establish a deep level of knowledge and understanding of

societal trends. It underpinned a thorough appreciation of

what is happening on a wide-scale global setting and the

current state of the impacts of the lucrative wellness

industry. A review of academic journals, books, case studies,

industry reports, news articles and documentaries allowed for

the emergence of clear themes and a framework to base a

primary research study upon.

methodology

• 12 •

Semi structured individual interviews were conducted with 9 participants born between

1980 and 1995. This interview style was purposefully chosen to gain opinion and

allow discussion to flow whilst conversation could be lead with some keys questions

and themes. This method allows for data to be analysed qualitatively, which is insightful

in understanding why consumers make the lifestyle choices they do, rather than simply

which choices they make. Conducting the interviews in a relaxed setting allowed for

participants to give more in depth description which allowed for a degree of subjective

understanding concerning human motives. Limitations to this design have been noted

however; the lack of standardised questions in semi structured interviews raises

concerns about data reliability, validity and generalisability. For the nature of this

research project however, where flexibility is key to gaining insight into a complex topic

area, attempts made to increase the rigour of the research to allow for its replication

would undermine the strength of the method, since the purpose is to reflect the

opinions and realities of the participants lives at a moment in time.

1. To understand how consumers’ perceive wellbeing; and what the benefits and

consequences are to achieving ‘optimal wellness’ in their lifestyles.

• How do consumers articulate what wellbeing means to them?

• Do consumers know how to achieve ‘optimal wellness’?

• Understand whether decisions regarding career and lifestyle are driven

by intrinsic or extrinsic motives.

• 13 •

Gaps in secondary research were stimulus for further study of specific areas. These gaps allowed for the formulation of research objectives, to be achieved through the following primary studies;

A questionnaire was distributed online to 145 respondents born between 1980

and 1995. The sample was sourced via social media platforms and gender ratio

was 60:40 female: male.

This was identified as the best research method for this objective as it allowed for

collection of quantitative, quantifiable, comparable data and the variability of

different influences on wellbeing could be indicted from analysing results. It was

useful in gaining initial insight into the topic, to gauge an understanding in what

specifically is most forceful in driving awareness to millennials, with regards to

the state of their wellbeing. A limitation of this research method is lack of detail,

as answers were dictated by multiple choice or ratings. There was little scope for

respondents to supply answers which precisely reflect their true feelings or

justify reasoning, therefore qualitative research was necessary in addition, to

offer deeper insight into consumers’ behaviour. A second questionnaire was

distributed to participants of the qualitative research studies, prior to meeting

them, to understand their lifestyles, behaviours and opinions before deeper

questioning.

2. To realise what is driving millennials’ awareness of their wellbeing

• As social media is responsible for an increase in access to information,

does the recent proliferation of usage influence millennial lifestyles?

• Does the increasing understanding of what it means to be healthy actually

lead to behavioral change?

• Are brands having an influence over millennials wellbeing? If so, how?

• 14 •

methodology

A diary study was conducted with 3 participants from millennial generation, examining

their lifestyle choices. The purpose of this was to establish whether there is dissonance

between attitudes and behaviours when it comes to their wellbeing. The participants

were asked to keep a diary for 3-5 days; specifying what they ate and what they wore

and articulate explanations. This length of study produced enough data to reduce the

chances of behaviour being a one-time anomaly, and assume its reliability. However,

limitations include the Hawthorne Effect, whereby participants normal behaviour may

have altered due to their awareness of their behaviour being observed and analysed. It

could also be critiqued, that a larger number of participants would be desirable to allow

for greater generalisability.

3. To investigate if consumers’ desire for a healthy way of life translates in

their purchase decisions and lifestyle choices

• With information and education so readily available and accessible;

is there conflict between attitude and behaviour with regard

to heathy lifestyles?

• Are millennials buying brands that aren't agreeable with their belief

systems?

• Is wellbeing a factor that impacts purchase decisions? Is this

conscious or subconscious?

• 15 •

methodology

Two qualitative discussion groups with millennials at differing life stages (30’s vs 20’s),

were conducted. Each group was made of four participants and included both men and

women. Debatably, this was an ideal ratio and size as the topic explored included

emotionally involved constructs, thus; it was important for the atmosphere to be

open-minded, so each participants’ view could be heard. (Saunders, Lewis, and

Thornhill, 2012)

The purpose of this research was to gain a deep understanding as to whether material-

ism and materialistic goals are something more or less prevalent in younger millennials

than older millennials. Video clips, proverbs and images were used as stimulus to start

discussion. Set questions were however designed before discussion started, so results

could be compared and contrasted between each group.

• 16 •

4. To understand the value of experience Vs material goods; and the impact it

has on wellbeing

• Investigate to what degree the ‘experience economy’ influences

consumer spending habits

• Understand millennials’ disposable income spending priorities

• Are brands who offer added value from experience, more successful

than those who don’t?

• Establish detailed understanding of consumers’ values, lifestyles

and opinions

methodology

Industry interviews with 5 marketers were conducted to gain insight across sectors;

retail, lifestyle, fashion and beauty. Email interviews were chosen as the most

appropriate method due to the speed and flexibility of which they could be conducted.

The impersonal nature and briefness of this method however was recognised as a

limitation and face to face meetings would have been the preferred method, had

practicalities allowed. Nonetheless, written interviews were still advantageous to gain

real time industry perspective on how consumers’ increasing regard for their

wellbeing is impacting brand behaviour, and to what extent brands are realising and

responding to this.

5. To explore how retailers are responding to consumers’ wellness goals

• Do consumers consider brands to have a role with regard to their

wellbeing?

• Can brands play a role in improving wellbeing for millennials?

• Which brands have successfully responded to consumer demands

with regard to improving their wellbeing?

• Are there profitable benefits for brands who communicate values

of authenticity and community to their consumer?

• 17 •

methodology

the proliferation

of wellness• 18 •

ellness is defined as “an active process through which

people become aware of, and make choices toward, a

more successful existence. It goes beyond mere

freedom from disease or infirmity and emphasises the

proactive maintenance and improvement of health and

well-being.” (Global Wellness Institute 2016). Hence,

arguably conceptualised as a process whereby

individuals can aim to reach full potential, through a

series of conscious, self-directed behaviours. The

theory of wellness therefore originates from a health

perspective, but has arguably evolved into a

phenomenon, since the birth of the National Wellness

Institute in California in 1978, when Dr Travis’ insightful

publications on the topic brought it to mainstream

attention. It could be claimed the “Tipping Point” to

mainstream came about when Travis identified; “If

people have reached material success and they are

not happy, maybe they will try something else.” (British

Vogue 2016) Thereafter, western society has gradually

seen wellness develop to a fully commercialised

industry; debatably consumers now spend with the

intention of their actions enriching their quality of life

and increasing their wellbeing.

• 19 •

W eligman’s (2011), hypothesis of well-being theory; is

explained though a model of positive psychology,

measured through five elements; positive emotion,

engagement, positive relationships and meaning and

accomplishment. (See appendix 4) He stipulates no

singular element determines wellbeing, rather each

contribute to it. It could be argued, this holistic

framework, acts as a key contributor to understanding

how well an individual is, and the relatively recent

wellness boom has subconsciously increased

awareness of these five elements among millennials.

Results from a primary research questionnaire

illustrated that 78% of millennial consumers view their

wellbeing as a priority. It’s likely therefore, this

demographic have been influenced chiefly, as the trend

for enhanced wellbeing has developed exponentially in

the same decade they grew into adulthood and

cemented lifestyle choices. Participant 3 in discussion

group 1 (see appendix 9) suggested accessibility of

information due to technological advances this decade,

offers an explanation as to why consumers are

increasingly striving to enhance their health and

wellbeing. “People are becoming more aware of their

general health and fitness and are prioritising that,

probably due to accessibility of information, they want

to be the best they can be and constantly improve, be

strong, fitter and healthier.“

the proliferation of wellness

S

• 20 •


“People are becoming more aware of their general health and fitness and are

prioritising that, probably due to accessibility of information, they want to be the

best they can be and constantly improve, be strong, fitter and healthier.”

Participant 3 in discussion group 1 (see appendix 9)

• 21 •

O n the other hand, Watt Smith (2015)

debates that the concept of ‘emodiversi-

ty’ is somewhat responsible for driving the

wellness boom; “Stronger physical and

mental health is correlated with

experiencing a range of emotions, instead of

just being happy or content all the time. That

means allowing yourself to feel sad, angry,

irritable, bored, all the things we’ve been

told we ought not to.” Believing therefore,

there is an underlying trend concerned with a

generational obsession with feelings

and the journey of emotion, not just

contentment, that is increasing con-

sumers’ awareness of their feelings.

Consequently, it could be argued,

consumer attitudes point towards expecting a

sense of holistic realism from brands. This can be

witnessed via the adoption of an emotive

focus from brands outside the wellness sector

such as fashion retailer Missguided, who use

light hearted and relatable meme images and

mottos to provide consumers with ‘life reassur-

ance’, as a key element in their social strategy;

Furthermore, in the past 12 months an ambition

has been to intensely incorporate campaigns

with wellness bloggers into their marketing.;

“As a brand we are now seeing a shift in what

the consumer wants, and that shift has been

to lifestyle and fitness. More and more girls

are interested in this culture.” (See appendix 8)

“As a brand we are now seeing a shift in what the consumer wants, and that shift has been to lifestyle

and fitness. More and more girls are interested

in this culture.”

(See appendix 8)


ccording to Schlossberg (2016) social

media has spurred the biggest shift in

consumers’ healthy lifestyles. However,

survey results demonstrate how only 30%

of respondents rank Instagram as being

the most influential factor in increasing

awareness of their wellbeing. This suggests

disparity in understanding how millennials

are motivated to increase their wellbeing. The

influence of social media indicates extrinsic

motivation to be a key driver in lifestyle choice,

yet primary research revealed that intrinsic

self-motivation plays a larger part in inspiring

millennials to be healthier. Perhaps signifying

therefore, the media portray an inaccurate

stereotype of millennial motivations, which

has a large impact on understanding how

best to market to them.

The following chapters therefore aim to

uncover the truthful consequences a

heightened regard for wellbeing has on

consumption.

A

• 22 •


do more, have less

• 23 •

s a society, Sorensen (2013) argues “We have now

reached a stage where self-realisation needs can be

fulfilled via experiences.” Therefore, theorising that the

experience economy has led to a new wave of

commercial activity, as it’s recognised millennials

value experience over material possession; as ‘doing’

has a more desirable impact on happiness, than

buying. It could be claimed therefore, that value placed

on material possession is decreasing as consumers’

priority of their wellbeing is increasing. According to

Weinswig (2016) they are a generation more concerned

with the “style of life, rather than the stuff of life” and the

effect of this will arguably force an increase in

companies “providing consumers, with services that fit

into minimalist and socially conscious lifestyles.”

Weinswig (2016)

A

• 24 •

do more, have less

t could be assumed, this is a result of societal

development; where commodity goods that fulfil

basic physiological and safety needs are easily

accessible. (See Maslow’s Hierarchy Of Needs Appendix

4) Heckstall (2016) reinforces; “Today, owning a product

is easy. Even the poorest person can own a cell phone if

they really want to. Owning something means nothing.

It’s possible to say that it’s become something that’s

expected of people.” Converse to the baby boomer

generation, millennials believe ownership of material

goods is a less relevant sign of success. In a primary

research interview, Participant 7 stated; “Possessions are

temporary things, and mostly unnecessary. Memories

connect you to people and places emotionally, and

make you feel like you have spent your time doing

something rather than earning money to fill your house

with something.” (See appendix 7). It could therefore be

suggested, millennials are a generation intrigued and

empowered by the idea of minimalism, motivated by a

sense of freedom and care for the environment;

ultimately marking a backlash to consumerism.

I

• 25 •

do more, have less

sychological studies conducted this past decade have

repeatedly concluded that consumerism, and the

culture that surrounds it, often has undesirable effects

on individuals’ happiness. Kasser (2004) highlights;

heightened material values are damaging to

interpersonal and community relations - and the

ecological health of the planet, which ultimately has a

negative impact on an individuals wellbeing. In

support of this theory, Seligman (2011) proposes a

point at which having more money reaches a point of

diminishing returns on life satisfaction; known as the

‘Easterlin Paradox’. Diener (2009) explains; “If life

satisfaction and income was a straight linear equation,

then if an individual wanted to increase life satisfaction,

they should strive to create more money, irrespective of

how much they already have. Or, if government policy

was aimed at increasing happiness, it should generate

more and more wealth, no matter how rich it becomes.”

In reality, this is not proved to be the case, as primary re-

search has demonstrated that millennials are lessening

their desire to earn money with the intention of

spending on material goods, and increasing their

yearning of experiences and a well-rounded lifestyle.

he value of experience was shown to be much more

worthy than tangible product ownership when

millennials discussed their wellbeing. “Experiences

contribute far more to my wellbeing for the lessons and

learning they entail: the emotions, uplifting, fun,

exhilarating, astonishing, meaningful, worthwhile,

terrifying, awful and tragic, you can learn from them and

they contribute to who you are as a person. Material

items sit in a cupboard or drawer eventually

accumulating some kind of guilt and dissatisfaction.”

(Participant 8, See appendix 7) This suggests therefore,

they are a generation somewhat immune from

traditional methods of advertising and the capitalist

culture - which poses a dynamic challenge for brands’

marketing.

P T

“Millennials are realising retail

therapy does not work”.

Wallman (2011)

do more, have less

• 26 •

s a result, therefore, there is increasing demand to align with millennials’ experiential mentally. According

to WGSN (2016) “Millennial shoppers expect added value and one-of-a-kind experiences through in-store

educational workshops, free classes, and hands-on product testing.” Thus; actively making them feel good,

and justifying their purchases as indeed necessary. (See appendix 3 Lulu Lemon Case Study) In discussion

group 2, participant 2 acknowledged that an immersive retail environment has the power to affect her end

purchase; “…The atmosphere of a brand, you’re swept up in the moment, lately at Psycle, I spent £8 on a

smoothie! Like what? I can’t afford that! I got swept up in the atmosphere and the experience. You feel the

brand really thinks about you, so I guess I spent £8 to feel incredible, not just for a smoothie.” Interestingly,

participant 3 in discussion group 1 commented in line with this, she sees somewhat of a revolution in retail;

“Brands are changing from becoming services that sell product, to communities that bring people

together, and I think that’s only a positive thing.”

A

• 27 •

do more, have less

he Purchase Spiral model See appendix 4) assumes the biggest factor in purchase decision is

conversation, rather than marketing communications and therefore represents an interactive loop of

engagement, in contrast to a linear sales funnel which historically attempted to describe a consumer

journey. The impact friends have upon wellbeing arguably acts to explain why sense of community can

hold such influence; 51% of primary research survey respondents rated friends as the most influential

factor in implementing a change in their behaviour. (See appendix 6) In support, Larry D. Compeau,

professor of marketing and consumer psychology at Clarkson University informs; “Feeling like you’re part

of an elite group—that’s a huge purchase motivator, it’s about being in a club, it’s a social topic.” (Phelan

2015) The power of community and friendships are therefore arguably, under-developed antidotes that

brands could leverage further to retain millennial transactions, as the cult trend of minimalism is providing

millennials with validation for owning less.

T

do more, have less

he minimalist lifestyle is increasingly appealing to millennials and can arguably be explained through

conclusions drawn from research by Gilorich and Van Boven which advised; “to be happy, individuals should

spend their money, time and energy on experiences rather than material possessions.” (Wallman 2011) On

the contrary, however, Worstall (2014) suggests material and financial wealth remain in having significance

on an individual’s wellbeing. Offering a conflicting perspective on the Easterlin Paradox, he reasons; “It’s not

the level of economic wealth that makes people happy or unhappy (above that basics level that is). Rather,

it’s the direction of change of it. If a country is gradually getting richer then people will be happier than

if the economy is stagnant or shrinking. The association of greater happiness with the richer countries is

not really because they are richer, but because in becoming rich those countries have had decades, if not

centuries, of gradually rising incomes: that very thing that makes people happy. The promise of positive

progression.” Hence; suggesting happiness is not as a result of material wealth itself, rather the idea of

growth in affluence.

“What is going to serve a purpose or

bring me joy?” (The Minimalists 2016)

T

• 28 •

do more, have less

• 29 •

his theory perhaps explains why millennials are

increasingly looking for positive affirmation and

progression - to advance in enhancing intangible

affluence and in turn, their wellbeing. Research

suggested that activities which allow such

productivity, such as fitness and cultural experienc-

es, are favorable to millennials’ spending decision.

Not unexpectedly therefore, results from a primary

research survey revealed 73% were in agreement

or strong agreement with the statement:

“Generally I would rather spend money on an

experience than a possession.” This attitude can be

quantified by examining the increase in millennials

spending on travel. According to research by

Deloitte, “Leisure Is attracting 1.5 times more

discretionary spending than retail and the sector is

growing twice as fast.” (Vandevelde 2016)

Additionally, The Global Wellness Institute

reported a 14% rise in wellness tourism between

2013 and 2015, crediting millennial spending as

key driver.

do more, have less

• 30 •

rimary research illustrated that millennials rank

ability to travel above financial wealth when

considering factors that are important for a happy

life. Furthermore, when questioned about

spending of disposable income, travel and

holidays were referenced by all participants in

discussion groups as a key priority. This suggests

that millennials increasingly value shared

experiences and opportunities for relaxation,

perhaps as an antidote to their fast paced lifestyles.

An opposing perspective suggests the 2008

recession was influential in consumers’ reluctance

to overtly spend on material possessions which

encouraged a culture of ‘stealth wealth’, where-

by eating right and being well travelled arguably

credited consumers with a sense of moral superi-

ority and responsibility. Phelan (2016), therefore

debates that it was this emergence of opinion that

strengthened the association of experience being

a greater luxury than ‘things’.

T P

emotionallyinvested

• 31 •

onspicuous consumption that perhaps enabled the success of the advertising industry for

almost a century, is lessening among millennials, as arguably, unnecessary purchases do little to

relieve stress in modern day life. Somerville (2015) critiques traditional methods of propaganda as

being irrelevant to increasingly mindful millennials and suggests the shift to mindful behaviour is

unleashing a new conscious consumer culture. Whilst still underpinned by emotion, behaviour is

more proactive and less reactive, compared to previous generations. (The Hartman Group 2015)

Arguably, this is a result of increasingly accessible information that has inspired a generation to

be wary of their choices. When questioned, 45% of participants stated that usually they “only buy

products and services that appeal to my beliefs, values or ideals, and would like to more.” which

demonstrates a demand for greater transparency and accountability. (See Appendix 6)

emotionally invested

C

• 32 •

esearch suggests the quest for enhanced wellbeing, has had significant influence in

millennials valuing honesty from brands, as the “transformation economy” is reported to be a

rapidly-growing segment. Pine (2011) defines product innovation to be a multi-staged

progression of economic value, that has evolved from commodities to goods to services to

experiences to now personal transformations. (See appendix 4) Honesty and authenticity are

consequently critical principles. “Now people are looking to recharge, revitalise or improve

well-being: A better you becomes the product.” (Sherman 2016) Therefore, consumers are

consciously prioritising spending money on physically and psychologically enhancing

experiences. (Sherman 2016)

R


• 33 •


• 34 •

eeper exploration of behaviour revealed

millennials’ mindful attitudes extend beyond their

own health, to the wellbeing of the planet.

Arguably, they are a generation that have

internalised a responsibility to purchase products

that not only make themselves feel good but that

are good for the environment and society.

(Bailey 2015) Participant 1 in discussion group 2

explained how he is aware he is increasingly

thinking through this purchases before buying; “I

recently watched that Leonardo DiCaprio

documentary ‘Before The Flood’ which educated

me, and I think millions of other people, about

how harmful cattle farming and beef production is

for climate change. I think when you understand

how specifically your individual behaviour effects

things you are more likely to change it - now I eat

much less beef and dairy.”

uch awareness is undeniably changing the food

industry, as the proliferation of millennials watching

documentaries such as Cowspiracy (which also

educates on the profound connection between

the production of beef and acceleration of climate

change) has arguably been a catalyst for the

increase in consumers adopting plant based diets.

Marsh (2016) reports the number of vegans in the

UK has risen by 350% in the past decade, as an

increasing number of young adults adopt lifestyles

more favourable for their personal health and the

environment; To quantify, 42% of all UK vegans are

millennials. (Quinn 2016)

D S


• 35 •

ine (2011) therefore suggests, that actions

reflective of societal trends and aid in educating

consumers, is how communicative focus is likely to

shift. An interview with the Soap and Glory brand

manager Laura Henshaw, revealed that

millennial consumers now enquire more about

product ingredients, quality and sustainability,

than older consumers, who were previously the

more curious consumer group. She therefore

identified an opportunity in beauty retailing was

to “empower the consumer in his/her choices, via

full transparency and honesty.” (See appendix 8)

Furthermore, in interview, Founder of The Happi-

ness Planner, Mo Seetubtim reasoned; “With the

increase in pollution and the catastrophes like

tsunami, we (millennials) realised that we’ve been

destroying the world which will end up destroying

us...

o now I guess we just go back to nature, to

simple living, to the core of self, earth, and who we

are.” which therefore informs, retailers are

appreciating a consumer backlash to negligent,

rash consumption and as a result are striving to

inspire healthier lifestyles and more responsible

buying in their consumers. In primary research,

participant 3 discussed her cautious buying

behaviour; “I try and do this thing where If there’s

something I really like or want, I’ll bookmark it

online, then check back in a few days and If I still

really, really want it, and it’s still available, maybe

then I will buy it. So I am very conscious and

considered in what I buy.”

P S

n reaction to conscious consumer attitudes,

Bailey (2015) reports deep relationships are

key; “Consumers are looking to deepen new

relationships by connecting with likeminded

people that stand for the same things they do,

thus, …brands must be sure to link customers

to the people behind the company’s vision,

rather than just privy to a product.” Primary

research survey results revealed that on

average 7/10 consumers believe relationships

have a positive impact on their wellbeing,

hence, it could be assumed this provides an

explanation as to why millennials are

increasingly buying from brands that provide

them with a meaningful connection.


• 36 •

This perspective supports opinions found in

discussion groups, as participants revealed

they would be more interested in buying a

brands’ products or services, if what they

communicated, matched their values and

helped them meet their lifestyle aspirations.

Participant 2, explained specifically that Free

People and Ace and Jig, make her feel good, as

“They are brands that have a sense of respect

for the greater good and real values.“

(See appendix 9)

An interview with Missguided Merchandiser

Lizzie Russell highlighted the importance of

selling a lifestyle, opposed to just a product,

as consumers are increasingly sceptical and

cautious before buying into a new brand;

“Missguided isn’t just a fashion brand, it is a

lifestyle brand. We feel it allows our

consumers to connect with us on a much

more raw and grounded level.” Stipulating

it’s increasingly important for customers that

brands demonstrate they “go the extra mile.”

(See appendix 8).

I


• 37 •

n agreement, Euromonitor suggest

businesses which place social responsibility as

priority, have huge opportunity for growth as

consumers want to choose brands that “have

a clear purpose and act in the best interests of

society”. Interestingly however; “50% of those

questioned, could not name a single brand

that reflected a deeper sense of purpose.” This

arguably highlights a demand for better

communication and relevance from brands,

to empower customers in their choices.

In conflict to industry opinion, primary

research found the extent to which social

responsibility influenced purchases in fashion,

was questionable due to impacting factors

such as price, accessibility and practicality.

Participant 1 in discussion group 1 revealed

quality and function of a product were still his

priority, regardless of how responsibly made it

is. Furthermore, 45% of surveyed participants

rated price as the greatest debilitating factor

that had influence on their ability to only buy

from brands that “make them feel great”,

despite them desiring to ideally shop that way

more frequently. (See appendix 6) A tension

between millennials preferred behaviour and

actual behaviour, can therefore be assumed. A

diary study exposed lack of time and money

as factors largely causing moral conflict, which

was found to fuel feelings of inadequacy.

I

ltimately, it could therefore be suggested there is

potential for brands to benefit by reducing conflict for

consumers. “Brands can become a key element in

helping consumers reach their goals by staging

experiences that help them.” (Hoang 2016) An interview

with Sweaty Betty’s Senior Marketing Manager Laura

Rushe, revealed how brands providing customers with

solutions that enable them to live a healthy lifestyle, will

be the ones with greater loyalty, as ultimately they help

close the gap between desired behaviour and practical

behaviour. (See appendix) However, it could be argued,

millennials’ ambitions to live so responsibly, are in fact

of detriment to their health and wellbeing, as a result of

existing incompatible cultural norms and societal

pressure.


• 38 •

verall, only 9% of survey respondents thought their

current lifestyle positively contributed towards their

wellbeing. Marsh (2016) argues that such efforts to live

consciously are fuelling anxiety, overthinking and

exhaustion, in a generation who are already more

susceptible to stress, sleep deprivation and depression.

Hence; living well is considered a luxury that few

millennials can financially and practically afford to fully

embrace.

U O

#LIFEaholics• 39 •

#LIFEaholics

organ (2015) suggests happiness is not a

result of career status or possessions, rather

about creating, capturing and sharing

memories. Primary research demonstrated an

agreement with this principle, as only 13% of

millennials credit a successful career to

happiness. (See appendix 6) An explanation for

this could be that millennials are a

generation experiencing a competitive job

market, low starting salaries and as a result,

delayed house ownership, hence, they feel

their career ambitions are no longer driven

solely by salary, but orientated to be more

holistically fulfilling. Gani (2016) explains this is

unlike Generation X, “whom could be assured

if they were slaving away at a job they didn’t

enjoy, at least they were paying off a mortgage

and that eventually there would be some

return on hard work.” It could be assumed,

therefore, that the millennial trend to strive

towards health and wellbeing affluence has

emerged as it offers an opportunity to excel in

an area within the realms of control, when

perhaps financial prospects are stagnant.

• 40 •

M elatedly, research suggests therefore, that

millennials are less concerned with achieving

a tangible status that denotes happiness, and

more concerned with conquering an

integrated and satisfying way of life, that feels

happy. Interviews revealed that for the

majority of millennials, life aspirations are not

articulated by a specific status or destination,

rather a state of overall wellbeing and

contentment. Such outlooks were proved to

have substance, as discussion group

conversations informed that millennials would

be willing to sacrifice a higher salary, for their

dream job. One participant explained his

reasoning “The pros of a better quality of life

outweigh the cons of a reduced standard of

living.” (See appendix 9) In agreement of this,

studies by the London School of Economics

that suggest elevated job satisfaction and

psychological wellbeing are of greater

importance than money. (BBC news 2016)

R

#LIFEaholics

• 41 •

his positively correlates with results from a primary research survey, which

revealed 79% of survey participants rate a sustainable work life balance as

the most important factor in living a happy life. The issue arguably

underpinning this priority, is that of freedom. Landrum (2016) reports:

“Millennials simply want the freedom to mix-and-match their working and

personal lives as they fit.”. Hence; for millennials, success is not the driving

force in their careers, rather it’s a consequence of holding a career that is

already fulfilling and contributes to their happiness. Macdonald (2016)

revealed millennials are the first generation to comprehend that work is

a subset of life, not an equal to it, therefore, the notion of balance is not

relevant. “It’s part of what we do and who we are; we are life-working, we

are lifeaholics.” It could be, as a result of this shift, there are subsequent de-

mands for corporate and domestic freedom, whereby millennials’ desire for

services, that are efficient in enhancing self-discovery and satisfy the need

for convenience, are increasing.

T

• 42 •

#LIFEaholics

t is possible therefore, that essentially the prominent desire for

work life integration, has arisen as a result of craving freedom to

achieve wider aspirations, and has been influential in driving new

consumption models. As millennials look to blur the lines between

work and play, convenience and simplicity are increasingly

important values, which are key in enabling a more seamless

lifestyle, and, crucially, contribute to the success of the

collaborative economy. To assist in greater life fulfillment,

consumers crave relationships with brands that offer efficiency,

flexibility and help them make wiser consumption choices. Thus,

leveraging the emergence of businesses within the collaborative

economy, as they seemingly work to fit millennials’ needs.

(See article appendix 3)

I

#LIFEaholics

illennials are reported to idealise the notion of ‘Playbour’, (work

that feels like pleasure) as working long hours and stress were

ranked as factors most commonly impacting wellbeing

negatively. The ‘always on’ culture, is perhaps significant in driving

these opinions. A participant in Gani’s (2016) research explained

how a 9-5 day is incomprehensible. “Finish working at five? How

can you finish work at five? Some people are just waking up at

5pm – I have to Skype people in New York at that time, and stay up

late waiting for people to wake up in Tokyo.” In addition, in

primary research, interviewee 4 stated she may be tempted to

take a stressful job, despite claiming wellbeing was also a priority

to her; “I probably wouldn’t turn down a stressful job if the salary

and benefits were good enough, it would just mean I’d have to be

more organised to make sure I can still feel satisfied in other

areas of my life.” It could be suggested therefore, that these

findings expose millennials to possess conflicting priorities, which

may account for the rise in divergent lifestyle trends and

behaviours such as ‘detox-retox’.

M

• 43 •

#LIFEaholics

• 44 •

uch divergence has arguably been influential in driving the growth of products and services that aim to

enhance consumer wellbeing. According to WGSN, businesses such as Class Pass will continue to project

profitability, as millennials favour shorter, more intense and varied workouts, which are compatible with

their schedules and efficiently enhance both mental and physical wellbeing. Class Pass is a new model of

gym membership, that grants access to thousands of different classes and studios around the world. They

effectively meet the needs of millennials consumers via collaborative and flexible membership options,

which allows for exploration of new experiences. “We live for that ahhh-mazing feeling after a good hard

sweat: Recharged, refreshed, and reconnecting you to yourself and other great people around you —

always sweat in good company).” (Class Pass 2016) It could be suggested therefore, such business models

successfully internalise the modern consumerist need for freedom, as constraints of commitment and

ownership are absent. Thus; appealing to millennials’ convenience needs, yet satisfying their tribal

mentality.

onsequently, the lust for spontaneity and work life integration has enabled the fashion industry to

capitalise on a greater need for functionality and versatility in clothing. Well To Do London (2016) predict

demand for work apparel, with performance qualities, will rise, as it’s predicted the desirability for freedom

in the workplace will continue to re-define work culture norms. Similarly, it’s suggested brands leveraging

attributes of the sharing economy, offering access over ownership, will appeal to millennials on-demand,

value-driven mindsets. “Women who hop on planes like they’re taxis and race between meetings need

workwear with activewear DNA. So for each new collection, we include pieces that can transition from the

bicycle to the boardroom”. Katie Warner Johnson, co-founder of Carbon38 cited in Well and Good (2016)

C

S

n interviews, however, a potentially harmful

side to such lifestyle flexibility was revealed;

Participant 2 explained her experience of

limitless availability to exercise and living

‘balanced’ eventually had a negative effect on

her wellbeing. “I’ve been training really hard

lately, too hard, because fitness for me helps

me feel good, it’s kind of therapy for my

mental health, it makes me feel

#LIFEaholics

• 45 •

What people don’t understand is that the body

is one organism and exercise is another form

of stress on it. Over exercising may not feel like

over exercising, especially if everyone else is

doing it, but too much stress on the body ac-

tually causes it to retain fat.” (Crimmems 2016)

strong and capable, but it’s recently burnt me

out and I’ve retracted that a bit, to protect my

overall wellbeing. My body was exhausted.

Sleep and relaxation had to become more of

a priority.” In addition, personal trainer and

Author Lucy Fry acknowledges; “I see women

who are already stressed out and trying to fit

in their workouts who then go and get wasted

at the weekend…

I

s a result, there is an increasing trend towards fatigue among

millennials, and brands are striving to aid in enabling individuals to

thrive on overworked schedules; this can be seen via the rise in

consequence-reducing products and services, such as Hangover

Heaven. “They offer next-day services to treat the after-effects of a heavy

night out, with IV fluids, oxygen and vitamin shots.” In reaction however,

Williams (2015) suggests consumers now desire a genuine balance in

their lifestyles; “People are tiring of life in the fast lane. They are

increasingly interested in slowing down to engage with the here and

now”. Confirming this, Well and Good (2017) report social culture to be

“sobering up”, as it’s suggested millennials are intent on drinking less

alcohol and reducing hedonism altogether in a bid to increase their

wellbeing. In discussion group 2, participant 3 explained her recent

lifestyle choice was reflective of precisely that; “In the past year I have

started to drink a lot less alcohol; Like I was thinking why am I doing this

to myself? Feeling awful mentally and physically the day of a

hangover - just for a few hours of fun, I can have fun sober!” This

highlights therefore, consumers are aiming to establish greater

happiness, by living more maintainable lifestyles. Euromonitor (2016)

suggest this shift in behaviour isn’t a selfish pursuit, but rather “a

behavioural change encompassing the desire for authenticity, the

search for wellbeing and the desire to live a freer, more simple life”

which in turn works explains the emergence of the ‘caring economy’ and

unearths opportunity for new business models that satisfy the notion of

‘work-better-not-longer’ opposed to ‘work hard, play hard.’

#LIFEaholics

• 46 •

A

n spite of the trend towards slower living, primary research

demonstrated that dissonance between optimal and actual

wellbeing is still apparent. In discussion group 1, participant 3 identified

her ‘full-throttle’ lifestyle as un-sustainable; “I’ve worked hard to get to

a good place in my career, but if that had been at the expense of my

marriage it wouldn’t have necessarily made me happy, so I’m always

working on finding that balance. I get such a rush from pulling off success-

ful work projects, but last year that meant I neglected my relationships,

#LIFEaholics

• 47 •

so I’m trying to learn better work life integration this year to feel calmer

and not run down.” (See appendix 9) It could be interpreted therefore,

the motive to consider work and life more holistically has ultimately

been inspired by the movement towards simplicity. The conflict

between primacies evident in millennials lifestyles, arguably has been

the catalyst for the adoption of Danish concept ‘Hygge’, a notion that

perhaps has potential to be embraced by brands, and further impact

consumerist norms.

I

the insight: a self optimisation addiction

• 48 •

• 49 •

valuation of research has unearthed a key insight; An apparent

addiction to self optimisation, is the compulsion which underpins

millennials prioritisation of their wellbeing. In turn, this has had a powerful

role in somewhat redefining traditional consumerism.

he appetite towards fulfillment is apparent in the behaviour and attitudes

of millennials alike and, ultimately, research has established this is evident

through 3 central trends. Millennials are firstly, buying less, secondly, buying

mindfully, thirdly, looking for lifestyles that integrate work and play

holistically. Arguably, these trends are not purely as a result of pursuing

enhanced wellbeing, but can be justified more deeply by understanding

there is an underlying, insatiable motive for progression.

E

T

The Insight

nalysing millennial lifestyle choices and

ambitions, revealed that the quest for optimal

wellbeing is markedly impacting how and

what millennials buy in multiple industries.

Interestingly, research found consumers to

be confident and passionate in justifying how

their food, travel and beauty purchases affect

their own wellbeing - and the wellbeing of the

planet and others around them, yet, less so

with regard to their fashion consumption.

• 50 •

This suggests, the future of consumerism

is likely to be driven by a greater demand

for information across all industries, though

transparency, authenticity, relationships and

community as millennials increasingly self-

educate and become empowered; potentially

increasing their activity in sharing and circular

economies that contribute to enhancing their

wellbeing.

A

rguably, however, their pragmatic approach and idealistic views reveal a gap;

therefore, carving out opportunity for brands to aid this generation in living a fulfilled and

sustainable life.

A

“Brands must remember that consumers are

looking to become better people.”

(Sherman 2016)

The Insight

• 51 •

opportunities andrecommendations: the future

• 52 •

or millennials enthused by the goal of betterment, they ultimately want

approaches, tools and resources that will be of use to them through

their pursuit to live in true health and happiness. (Portera 2016) In

response to this key insight, a proactive approach from brands is

deemed necessary, to appeal to consumers’ aspirations. Arguably,

behaviours that sabotage health and lifestyle goals provide

opportunity for brands to intervene, which is increasingly opening up

chances for companies both inside and outside the health and fitness

industry, to innovate. (Sarti 2016) Taking discoveries from research into

consideration, recommendations for future concepts and business

strategies have been made, that align with consumer behaviours

identified in this report and aim to project brands into millennials’

spotlight.

F

Opportunities and Recommendations

• 53 •

illennials don’t want work to be the opposite of

play, they want fulfillment and enjoyment from

work to contribute to a holistically positive life, as a

24/7 connected culture has blurred the lines

between parts of life. Bearing this in mind, a

recommendation is therefore to explore how

innovations in corporate culture could work to

bring mutually beneficial progression to

companies and employees, alike. Millennials

entrepreneurial mindsets are arguably driven by a

want for flexibility,

F-Employmentand as they perfect their ability to effectively

intertwine personal and professional passions, it

looks to open up opportunities for companies to

design their principles, with the aim of

generating greater productivity and satisfaction

from and within their workforce, through a focus

on initiatives encouraging independence, activity,

relaxation, enrichment and ultimately, personal

progression.

M


• 54 •

A Relationship Revival s previously established, friendships

and relationships are key influences

regarding millennials wellbeing. This filters down

to demonstrate greater loyalty and respect

towards retailers whom demonstrate concern for

community, locality and pack mentality. In light of

this, there is room for further research investigat-

ing how seemingly large impersonal brands could

collaborate with smaller, local and

artisanal retailers, to encourage relation-

ships and build meaningful networks with

consumers and their local communities.

There is perhaps opportunity for unlikely

partnerships that resonate with consumer

lifestyles and hobbies through seminars,

workshops, socials and hybrid retail concepts. A

Key recommendation for stage 2 would be to

explore the feasibility of launhing a mini series

of ‘festivals’ that connect retailers in the food and

fashion industries. With a particular focus on

pairing activewear brands and health cafes, to aid

consumers in facilitating more active, yet sober

social experiences. This would arguably appeal to

millennials appetite to self-educate and cement

brand loyalty via increased engagement, and

measure of value-for-experience.

A


• 55 •

A Sustainable Self s research established, there is significant

hunger from millennials for personal growth, but

an overwhelming accessibility to information

and media is arguably causing a regression in

their wellbeing. Fast paced lifestyles and conflict-

ing advice, has perhaps hindered the ability for

millennials to confidently be in tune with their

own bodies, which opens up an avenue for oppor-

tunity. Aligning with the trend for a slower pace,

there is potentially room for growth in the beauty

industry in the form of ingestible product ranges.

As consumers look for long term solutions, and

increasinly understand feeling good comes from

within, a reccommendation for stage 2 is to

research the idea of supplement subscription box-

es; personalised to the individual nourishment

needs of the consumer and based on the under-

standing that hormones, digestion and lifestyles

play a part in both mental and physical wellbeing.

Ultimately, therefore, working to minimalise the

chances of low self esteem and tiredness harming

wellbeing.

A


conclusion

n conclusion, it is apparent consumer attitudes and behaviours have

changed as a result of wellbeing becoming a high priority for

millennials; which indicates focus on educating and empowering

consumers to be better and do better, must be integral parts of

brands’ strategy for success. The findings in this report conclude that

traditional norms of consumerism theory are deemed derogatory to

quite considerable extent, and this can be seen via analysis of

millennials informed opinions and lifestyle aspirations.

I

• 56 •

s a generation, they are buying less, buying more consciously, and

above all else, are increasingly willing to sacrifice standard of living for

the exchange of a better quality of life. The exploration of wellbeing

suggests happiness can be bought; but as it stands; at the expense of

balancing financial affluence, moral conscience and arguably

impractical ideals. Research has demonstrated that true wellbeing, is

founds through unapologetic authenticity and freedom.

A

• 57 •

hen looking to the future, it’s likely millennials will continue to show little

tolerance for untrustworthy, hollow brands and high regard for depth and

originality, as meaning and connection remains significant in contributing

to the development of new norms in the orders of consumerism. If these

values are internalised, then arguably, there is potential for this shift to be of

virtue to brands, so long as innovations are aligned with genuinely

improving consumers’ quality of life.

hus; as the population continues to rise and western economic forces look

to widen inequality; access to good health and wellbeing is more imperative

than ever, to satisfy the millennial obsession with self-improvement.

Arguably, a potential tipping point is on the horizon, where the elite cults

and trends driving the wellness phenomena will lose their appeal, unless

they work to offer accessibility, opposed to exclusivity; as their associated

euphoria is increasingly achievable via millennials own accord.

T

W

Conclusion

References & Bibliography

• 58 •

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Illustrations

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