Innovative Brand Responses Amid Covid-19
Introduction: Our Wellness Series
Consumers are increasingly pursuing products and experiences that encourage wellbeing and healthy habits, with today’s “wellness” referring to holistic, healthy lifestyles reflected as physical, mental, social, and spiritual wellbeing. Wellbeing has become a pivotal aspect of peoples’ lives and has subsequently affected various industries. Acknowledging the broad meaning of wellness and its ties to consumer lifestyles – Here we analyse 3 core sectors: Finance, Hotel & Travel and Food & Beverage to explore how brands are catering to this ever-growing consumer expectation. This first part will explore wellness through the lense of the finance and banking industry.
The ever-changing retail environment is seeing a significant shift from product-based stores to immersive, brand-building experiences – drawing direct parallels between issues faced by retailers and high street retail banks. As banking becomes increasingly digital, physical spaces require a radical shift in thinking. A redefined approach would see inspirational branches that serve visitors at the heart of customers lives through shared learning and collaboration as well as relevant brand partnerships.
Money permeates almost every aspect of people’s lives. By knowing a customer’s broader life experience, including an array of personal and business goals, financial brands can better understand people more effectively and better cater to their needs.
By moving to a holistic-based advisory approach, there is a vacuum within society that banks, and commercial brands could occupy to adequately address current customer needs and aspirations, especially those of the new generations.
One example of a bank aiming to integrate themselves within peoples’ lives is Barclays. LifeSkills, a platform created by Barclays, supports young people with skills to become financially independent and resources for when entering the work force.
The platform helps manage finances, approach investment and provides interactive job-seeking tools CV building, virtual practice interviews and apprenticeships.
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