Medical and wellness continues to influence buyer spend, with significant sales generated across all areas encompassing this growing sector.
Gyms now cater to every segment of the market as fitness continues to move to the mainstream and become more accessible. Demand for 24/7 gyms is beginning to slow as customers gravitate back to a more comprehensive health and fitness experience. The lines between spa, resort and gym are beginning to blur as additional services such as medispas are added to traditional gyms, offering next generation wellness in a single location.
Of course, increasing popularity means intensified competition. Driving medical and wellness occupiers is the desire for convenience and access to consumer foot traffic. Subsequently, retailers are reconsidering both traditional locations and configurations.
Also influencing space requirements is the breadth of products and services which are now included in the category. Traditional offerings have expanded alongside technology and consumer demand, and retailers continue to merge good s and services from medical, beauty and wellness. For example, a suburban beautician is increasingly likely offer laser and cosmetic injectables, requiring more of, and varying types of space to what was traditionally required.
Interestingly medical and wellness is almost completely immune from the effect of ecommerce. The exception being the research and review process – cementing the importance of customer experience in this sector.
So what’s next for health and wellbeing?
- Medical insurance centres – all-inclusive insurance and medical centres such as Bupa optical and dental
- Cryotherapy – increasingly being used for weight loss, treatment of pain and injury recovery
- Daigous – Literally translated to “buying on behalf of”, essentially these are conduit between Australian retailers and consumers in mainland China
For more information and current opportunities, click below for contact details.
Matt Hudson - National Director, Head of retail leasing
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