US wellness publisher mindbodygreen is making its move into the $3.89 billion global beauty supplements market with the launch of NR+ –– a supplement that claims to promote cellular energy production, enhance skin and reduce signs of ageing.
Launched in partnership with supplement and at-home testing brand Thorne, the product, which is currently available to buy via mindbodygreen’s website, marks the start of a new direction for the company which has been focused on growing its online content since its launch back in 2009.
According to mindbodygreen, the plan is to release a further five beauty and wellness products over the coming months, addressing concerns such as sleep, gut health and skincare, which sit in the lucrative intersection between beauty and wellness.
In fact, the brand is so confident that its audience will invest in its premium products, co-founder and co-CEO Colleen Wachob told Glossy she estimates the range will account for 25% of mindbodygreen’s revenue next year.
Wachob revealed that its female-dominated audience is 5.4 times more likely than average customers to have spent $500 or more on skincare in the last six months, with eighty-two percent of its readers already taking supplements regularly.
With constantly changing health trends and large amounts of easily available information on health and nutrition blurring the lines of what types of products consumers are using to maintain their health, consumers who previously relied on traditional beauty products to maintain their appearance are now looking at vitamins and supplements to enhance their appearance as part of their overall well-being, claims Euromonitor.
The US, in particular, experienced a 61% increase in beauty supplement sales in 2018, and this shift in consumer behaviour hasn’t gone unnoticed. Like mindbodygreen, more and more brands are turning their attention to the beauty supplements category, Bobbi Brown and Walmart recently collaborated to launch a line of gummies, tea, pills, powders and tablets. Nestle is also expanding into the category with the acquisition of Persona, a personalised vitamin business founded in 2017, which sells beauty supplements among its vast offering.
Elsewhere disruptive startups like The Nue Co, which raised $9m in July to scale its offering and Love Wellness, which secured $4m in September to help propel its supplements into the mass market, are also making their mark on the growing category.
However, despite growing competition, mindbodygreen believes it can cut through the noise and connect with its already 23 million-strong audience.
Mindbodygreen co-founder Jason Wachob told Welltodo in an upcoming Business of Wellness podcast episode that, each product has been designed to address the major problems of its community, and that over the course of two years he and his expert team have worked tirelessly to create what he argues are innovative and groundbreaking solutions.
“This is the biggest thing we’ve ever done and I’ve never been more excited about where we’re going as a brand,” he told Welltodo founder Lauren Armes.
To hear more insights from mindbodygreen co-founder Jason Wachob, keep your eyes peeled for Season Two of The Business of Wellness Podcast, which will return in January 2020. In the meantime, catch Season One on Apple, Spotify or Libsyn.