The post-pandemic cost of living crisis is far from over. While inflation may be easing across the globe, consumers are still feeling the pinch with their day-to-day expenses – especially as food commodities and beverage prices remain 50% higher than they were in 2019.

These cost pressures have no doubt also impacted consumers’ purchasing behaviour when it comes to health and wellbeing products, as identified in Nutiani Top 10 Health and Nutrition Trends 2024 infographic. Nutiani IPSOS Consumer Health and Nutrition Index 2023, which surveys consumers from five global markets on their attitudes and perceptions regarding health and wellbeing, reveals that one in three consumers find that rising costs have made it hard to continue purchasing nutritional products.
 

To better understand how brands can successfully meet cost-conscious consumers where they are, we delved into our research findings to develop the Health, Nutrition, and Rising Costs report. Dissecting key consumer sentiments toward nutrition amid rising costs, the report underscores value-creating innovation as the key guiding principle for brands navigating this changing landscape. 

Value-Creating Innovation

Though a product’s value has typically been equated with its price, its true value encompasses all the benefits it brings consumers at its price point.

With health and wellbeing-related issues a prominent concern for consumers, the good news is consumers still firmly believe that nutrition improves health. 

To cope with rising costs, consumers’ nutrition purchases are now dictated by the adage of ‘quality over quantity’. With analysis of online reviews revealing that the quality of affordable alternatives is a key consideration for consumers, brands that can deliver value with their products will emerge a cut above the rest. And this begins with an understanding of what value entails. 

Though a product’s value has typically been equated with its price, its true value encompasses all the benefits it brings consumers at its price point. By developing products that target the following four key value-drivers, brands have a better chance of appealing to consumers amid tightening purse strings. 

1. Relevance

Over half (53%) of consumers are now purchasing only the essentials as they cut back on impulsive and indulgent buys. Nutrition solutions that offer relevant health benefits targeting consumers’ most important concerns are, therefore, more likely to succeed.

While the top three health concerns globally are sleep quality (78%), mobility health (76%), and immunity (76%), these vary across markets. It’s critical that brands tailor their solutions accordingly. 

Top 3 Health Concerns Across Markets

2. Science

Scientifically proven ingredients and claims rank second and fourth respectively as key drivers of a product’s value-for-money. As consumers hone in on quality, they are more willing to spend on products that are proven to be effective, with any health benefit claims supported by robust data and scientific evidence. 

Scientifically proven claims, certificates, and endorsements also play a part in demonstrating efficacy – but how do they differ, exactly? We delve into this in our report.

3. Convenience

Convenience is a widely recognised megatrend that is also identified as a major driver of value-for-money in nutrition – especially as modern consumers become mired down by the demands of family, work and school. Multifunctional solutions and comprehensive, one-stop resource hubs that simplify the health management routine will appeal to busy but health- and cost-conscious consumers. 

Developing products in familiar formats also allows consumers to incorporate health management more seamlessly into their existing daily routines. Hank’s fortified Brain Boosting Peanut Butter Spread, for instance, serves as an easy replacement of a daily breakfast food. 

4. Experience

In order to enhance the experiential aspect of their products, brands should go the extra mile to enhance flavour, texture, and the social aspect of health management routines. 

A function of the overall experience, taste is an important product aspect for consumers. It is named as a key barrier for those who do not eat a healthy and well-balanced diet. Even among those who are proactive about their health and wellbeing, taste is identified as one of the challenges faced when consuming nutritional products. 

Brands may also elevate the experience for their consumers through focus groups, designed to understand and collect data-driven insights on the experiential elements that consumers seek. These experiential elements may include preferred tastes and formats. A community platform offering complimentary health and nutrition related seminars or events can also support consumers through a cost-of-living crisis.   

Building a lasting nutrition portfolio for consumers

While price may impact the perception of value, the key to building a sustainable and future-proof nutrition portfolio lies in moving beyond price to deliver better value-for-money through other product attributes. 

The strong proposition offered through these four value drivers creates deep consumer engagement that can build a meaningful and lasting loyalty to brands and products. 

Explore these insights further in our full Health, Nutrition, and Rising Costs report here.