The Global Wellness Institute defines wellness as: the active pursuit of activities, choices, and lifestyles that lead to a state of holistic health.
It distinguishes wellness not as a “static state of being (i.e. being happy, in good health, or a state of wellbeing), but rather the “active process of being aware and making choices that lead toward an outcome of optimal holistic health and wellbeing.”
It further stresses that individuals have self-responsibility for their choices, behaviours, and lifestyles which are significantly influenced by “the physical, social, and cultural environments in which we live.”
Luxury brands represent the pinnacle of social status and cultural aspirations, need to ponder how their consumers’ luxury values and lifestyles will change as a result of the reset they have experienced.
Achieving the true luxury of wellbeing will be their customers’ new goal. Where does a new piece of jewelry, handbag, or pair of expensive shoes fit into that pursuit, even if said items are produced responsibly?
For luxury brands the goal all along has been more consumption (i.e. the thing), but in this new world where sustainability is filtering into every aspect of our lives, consumers have been forced to get off their habitual buying-and-spending treadmill, I foresee luxury consumers, most especially the HENRYs, emerging with a new set of priorities (i.e. the experience of life’s journey).
Their passion for wellness for the planet will take a back seat to their drive for personal wellbeing that has multi-dimensional physical health, emotional, and financial components. Luxury brands will have to reset to these new dimensions as they pursue their own journey.
