Master the (Lucrative) Business of ‘Wellness’
- Apr 07, 2015
Are Millennials and Gen Y willing to pay more for a certified green living experience?
As the apartment industry continues to debate this question, a slew of new LEED buildings continue to rise from coast to coast. And new products and services catering to a variety of health-conscious demographics are being launched all the time. Many are clearly succeeding—especially when they are clever and add in a dose of social consciousness.
Just this morning I caught an interesting interview on CNBC with actress/entrepreneur Jessica Alba, co-founder of Honest Co., a socially conscious e-commerce startup that makes and sells eco-friendly personal care products including a flagship line of baby wipes and diapers.
Chief Creative Officer Alba and CEO Brian Lee told CNBC that the company generated $150 million in revenue last year—that’s triple the company’s revenue in 2013. Also, they shared with CNBC’s viewers that Honest’s new baby food product line is going really well and customers have already asked for additional food items plus more personal care products.
In response, Honest will be rolling out a feminine care vertical as well as beauty products later this year. Alba and Lee also revealed plans to expand into China by the end of 2015.
What can we learn from Honest Co.’s success?
They seem to be tapping into a consumer mindset that’s here to stay and becoming more mainstream by the minute. A great number of Americans are looking for healthier alternatives for themselves, their children and their pets.
Could these same consumers be enticed to further delay a move back to the suburbs and instead settle down in a conveniently located apartment community if it’s able to flaunt a seal of approval by healthy building experts?
We won’t have to wait too long to find out. The WELL Building Standard was launched last October by Delos as the first protocol of its kind to focus on human wellness within the built environment and pilot projects are already springing up.
Specific performance requirements address seven key concept categories relevant to occupant health: Air, Water, Light, Nourishment, Fitness, Comfort and Mind. In the April 2015 issue of MHN magazine, we delve into the particulars of this research-driven standard that we’re going to be hearing a lot more about. According to Paul Scialla, IWBI’s founder and Delos’ CEO, “The WELL Building Standard focuses on the people in the building. It marries best practices in design and construction with evidence-based medical and scientific research to harness the built environment as a vehicle to support human health and wellbeing.”
Would the WELL Building Standard fit into your business plans? To share your view, email firstname.lastname@example.org.