Like everyone else hoping to maintain relevance with today’s consumers, Barneys New York has caught the wellness bug. This week, it introduced its new Conscious Beauty category in stores and online, comprised of “clean beauty” products and ingestible beauty supplements.
“The wellness trend has evolved and grown, and everybody’s talking about it,” said Jennifer Miles, Barneys’ vice president of cosmetics.
Indeed, the market is expected to be worth $13 billion by 2023, according to a recent report from Research and Markets.
“Customers are so savvy about ingredients, and very aware of what they’re putting in and on their bodies, so we really wanted to tap into that,” she said.
At this point, Barneys is playing catch-up to department store competitors. The news is reminiscent of similar endeavors launched last year by retailers like Neiman Marcus, with its Wellness Shop, and Goop’s pop-in shop at Nordstrom.
That doesn’t really matter, said Maya Mikhailov, the co-founder and CMO of retail app developer GPShopper.
“Late or not, they’re recognizing that wellness is the new luxury,” she said. “Gucci- and Prada-heeled consumers are snapping up health and wellness experiences with the same enthusiasm as this season’s latest fashions, so it’s no surprise that Barneys is getting more aggressive with this strategy.”