- Ogilvy study finds wellness increasingly important for consumers
- Brands fail to meet growing demand; consumers looking for more
- SHRG to capitalize on emerging trend with premium health and wellness products that perfectly target emerging consumers’ needs
A recent study published by Ogilvy reveals that wellness is now considered an essential element of a brand’s strategy (https://ibn.fm/zVl4i). Sharing Services Global (OTCQB: SHRG) is poised for growth as consumers crave wellness and place increasing importance on healthy meals, good sleep and time to relax.
The global study, called the Ogilvy Wellness Gap, has surveyed 7,000 consumers from 14 countries across four continents to explore how they perceive wellness in 2020 to aid brands close the opportunity gaps. The research, conducted in April 2020 when wellness took a nosedive for consumers across the globe, revealed that 77% of respondents cite wellness as very or extremely important to them and 80% want to improve their wellness.
Still, brands seem slow to respond to this growing consumer sentiment as the study reveals that 75% of consumers feel that brands could do more for their wellness and only 46% feel that brands take their wellness as a priority (https://ibn.fm/zVl4i).
Sharing Services Global is ideally positioned to capitalize on this gaping market opportunity as a company offering high-quality health and wellness products. In addition, as a direct-selling company, SHRG brings these innovative products through the network of its home-based entrepreneurs, leveraging the social element of the selling process. This approach offers a strong competitive advantage, as merely claiming wellness benefits is not enough anymore as consumers demand authenticity; the Ogilvy study unveils that consumers demand authentic stories, ingredients they can understand and benefits they can believe.
SHRG’s business model offers strong social proof with sales consultants promoting the products often based on their own experiences and sharing personal product experience with customers. Sharing Services firmly believes that the relationship marketing it practices reaches today’s market and consumers in the most personal and direct approach.
The wellness economy offers considerable growth prospects in the consumer goods segment, and COVID-19 will only accelerate this phenomenon. However, there is an urgent need for brands to rethink their wellness offers and close the wellness gap for consumers. With branded products claiming to give consumers an energy boost, make them feel good and help them sleep better – all cited in the study as critical wellness priorities globally – SHRG looks to be ideally positioned to leverage the strong momentum of today’s 4.5 trillion-dollar wellness economy, which is growing twice as fast as the global economy.
The Sharing Services combined platform currently leverages the capabilities and expertise of various companies that market and sell products direct to the consumer through independent contractors. Two of its primary divisions include Elevacity Holdings LLC., the parent of its wholly owned subsidiary, Elevacity U.S. LLC, a health and wellness products company, and Elepreneurs Holdings LLC., the parent of its wholly owned subsidiary, Elepreneurs U.S. LLC, a sales and marketing company based on utilization of independent contractor distributors who sell the Elevacity product line.
For more information, visit the company’s website at www.SHRGInc.com.
NOTE TO INVESTORS: The latest news and updates relating to SHRG are available in the company’s newsroom at http://ibn.fm/SHRG
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