Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
Wellness Industry 2018-10-15

How Wellness Businesses Can Drive Their Revenue Growth

The Indian wellness market is expected to reach a market size of more than 700 billion INR.

By Content Writer
How Wellness Businesses Can Drive Their Revenue Growth

The wellness industry in India is witnessing a tremendous growth. The Indian market is expected to reach a market size of more than 700 billion INR. As consumers are increasingly spending more on wellness products and services, the wellness industry shows a bright future for businesses. To capitalize on this, companies are fine-tuning their business and operating model in order to drive sustained revenue growth and ensure profitability. Here are few strategies on how wellness brands can drive their revenue growth.

Balanced Approach

Wellness brands are adopting a balanced approach to scaling up. Franchising has been a common route to achieve rapid scale. However, companies are also exploring hybrid models and expanding the network of their own outlets in order to manage the challenges around the loss of control and brand dilution.

Addressing Diverse customer segment

One of the levers for revenue growth that wellness businesses use is the multi-brand strategy to address diverse customer segments. They are chalking out this strategy in order to target distinct customer segments, penetrate deeper into existing markets, and simultaneously diversify into newer markets.

Investing in building consumer awareness and trust:

Consumer awareness and trust plays a key role in the growth of the wellness products and services market as well as widening its consumer base. Players have taken up a number of initiatives to educate and improve consumer awareness regarding the benefits of wellness products and services, and are setting up mechanisms for pro-active consumer connect and feedback.

Diversifying Portfolio

In order to drive profitability, wellness companies are diversifying their portfolio. In the wellness industry, products traditionally have had higher margins than services. Many wellness service players are offering a wide range of various products and services in order to improve business margins.

Premium Products

There is a strong inclination of consumers towards luxury and premium brands. Falguni Nayar, Founder & CEO, Nykaa, said, “The growth in luxury beauty & wellness purchases reflects the discerning nature of our customers who are ready to invest in the best products.”

Thus, wellness brands are adding premium products and services to their portfolio mix in a bid to shore up gross margins. However, this necessitates creating a distinct value proposition and investing in additional capabilities.

Comment
image
image
mobile
address
star franchise india
Related opportunities
  • Beauty Salons
    About Us: Apple Unisex Salon was incepted with a dream to..
    Locations looking for expansion Maharashtra
    Establishment year 2006
    Franchising Launch Date 2020
    Investment size Rs. 20lac - 30lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Cleaning Service
    Maid Hub is 3.6 years old brand and was launched..
    Locations looking for expansion Haryana
    Establishment year 2018
    Franchising Launch Date 2020
    Investment size Rs. 10000 - 50000
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Express Food Joints / Drive Through
    Oldest paan brand in India. The aim is to capture..
    Locations looking for expansion Haryana
    Establishment year 1965
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Preschools
    About Us: E junior proves to be the most comprehensive and..
    Locations looking for expansion Maharashtra
    Establishment year 2009
    Franchising Launch Date 2018
    Investment size Rs. 50000 - 2lac
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts

pincode
ads ads ads ads