A Thirst For More: The Red-Hot Health Beverage Industry
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As the health beverage industry grows rapidly, it will be more than the product that propels someone to the top.
Only a few years ago, there were two or three choices if you wanted something healthy to drink: sports drink, water, or for some, tea.
Flash forward a few years, and the health movement has brought with it a huge shift towards getting the most out of ourselves and taking care of our bodies.
With it, an explosion of healthy beverage options has followed — healthier sports drinks, enhanced waters, coconut water, kombucha, cold press juices, bone broths — just to name a few.
One thing is certain — industry titans like Gatorade will continue to see market share clipped away as consumers demand more clarity on what’s in their drinks and desire all-natural options.
But what is still very unclear is who will emerge as new leaders in this sector.
Many of my favorite options share very similar and strong characteristics.
First, a product that speaks for itself without the need for any spin. All natural, locally-sourced, organic, plus a load of vitamins, minerals, antioxidants and overall health aids that will leave you feeling warrior-like.
Second, a crisp, sleek, modern brand that looks like it came out of an Apple workshop in Cupertino.
Third, a lifestyle story of what the user can aspire to be or achieve with the product in hand. This is a critical element that cannot be missed. The story isn’t just about high performance athletes at the top level anymore. This is about getting the most out of life. Carpe diem. Finding myself. Shaping the life I want to live. Taking care of myself along the way.
These elements are unbelievably consistent across most of the rising stars in this category. Which makes for a closely fought match.
And it leaves me wondering who will get the edge? And seeing a huge opportunity for someone to add a 4th element.
We are talking about beverages that are premium products with premium prices — typically $3 to $5 per bottle.
Let’s reverse engineer the purchase decision. To pay $4 for 500ml of liquid, the consumer must believe that they are getting at least $4 worth of value — otherwise it’s over-priced.
So where does that value come from? Yes, it comes from the product. The hard work to make this beautiful, natural, good-as-hell-for-you elixir.
But, let’s be real. For anyone who is buying this type of product, tap water is a free alternative. There is no way then that the product alone is the sole source of value.
And here is where the of-the-moment lifestyle movement kicks in. The movement of live for now, and design the life you want to live.
Today, more than ever, the consumer will put dollar value against the way you make them feel. The way you help them be the person they desire to be. Help them aspire to be better.
Putting this product in my hand doesn’t just make me literally healthier. It also makes me feel good about the choices I’m making. It shows others I care about my life. It makes me feel energized to find me, to find my destiny, to push myself to the next level.
As a brand then, go beyond having a roster of athletes and fitness influencers that vouch for how great the product is. Go beyond having one-way social feeds pumping out inspirational messages.
Give the people something they can use. Something that actually enables them to take that step to better.
I’m talking about Content. Events. Experiences. Rewards. Apps. Collaborations with like-minded brands.
Give them something tangible they can use to reach those dreams, and they will gladly give you $4.
After all, you just made them feel like a million bucks.
Dave Corelli is Chief Strategy Officer of SportBox Group, a global entertainment agency with verticals in strategic marketing, personality representation, and event creation and ownership. Corelli oversees business and creative strategy globally for the agency, its clients, athletes and events. Follow Dave on Twitter and on Medium.
Originally published at www.sportboxgroup.com.