Will wearable devices boost sleep aid sales?
What impact might wearable devices have on the sale of sleep aids in the future? The impact could be significant. While consumers have not fully embraced wearable health technology in large numbers, they are interested, according to a recent PricewaterhouseCoopers Health Research Institute report.
According to the report, only 21% of consumers currently own a wearable product, but 45% were likely to buy the kind of fitness bands that track sleep patterns in the next 12 months.
Compare that to another survey — this one a recent Sleep Number study — that found that only 16% of Americans are actively tracking their sleep today. As more consumers buy fitness bands and begin tracking their sleep patterns, only to find that they’re not sleeping well, many may turn to sleep aids to help them sleep better at night.
DSN, Mack Elevation host NGM Forum
New General Market Forum panelists included: (standing) Dan Mack, Mack Elevation Forum; Emmet Dennis, Sundial Brands; Wayne Bennett, DSN; Jean Legros, Mentholatum; Andrew Kingery, Beiersdorf; Rich Dennis, Sundial Brands; Bob Wiltz, Paris Presents; Chris Skyers, Wakefern; Paul Kenny, Combe; Dave Fox, Dentek Oral Care; and Craig Dubitsky, Hello Products; (seated) Debbie Brandwene, Unilever; Heather Warnke, Kao; Sarah Montante, Unilever; Steve Yde, Wahl Home Products; Shannon Curtin, Walgreens; and Bruce Kramer, Wahl Home Products.
Drug Store News and Mack Elevation Forum co-hosted The New General Market Forum in Chicago on May 27 with a mission to bring together leading companies that have demonstrated their commitment to building a strong community with a diverse consumer base, the program included in-depth discussion and thought leadership around eight key pillars:
- Identifying the New General Market: Who they are, how they think and their unmet needs?
- More than just diversity of color or race, the New General Market is about diverse views.
- How millennials influence the New General Market.
- Rethinking the in-store experience.
- Creating authentic brand communities.
- Cultural competency and influence in a changing world.
- Creating a holistic brand investment strategy.
- Measuring success with the New General Market.
Insights from the event will be featured in DSN’s Aug. 22 issue.