When I reflect on World Menopause Awareness Month from a personal perspective, I sigh and wonder: when will it be the last one? Not because I don’t think we should celebrate it, but because until an awareness month isn’t needed, we are still far from a reality where menopausal women can truly thrive in society.
On a professional level, the GenM vision was based on the credible, independent research which uncovered that women in menopause felt invisible, overlooked and underserved by both retail and society [UK Visibility Report]. Even today, 71% of women fear the menopause, while just 2% say they’re ‘thriving’ while experiencing it.
Clearly, there is much work that needs to be done, and retail has a role to play – because menopause impacts every category and division of retail.
Building a new category
My mission is to ‘make menopause the new veganism’. While only 3% of the UK population choose to be vegan, 20% of the population at any one time is in menopause – this is no life choice, nor a retail trend, it’s a forever market. But where is the customer experience, designated spaces in-store and online, product signposting, education and choice for this shopper, who may also be experiencing any one of the 48 menopause signs – from brain fog and anxiety to fatigue and sleep deprivation.
Our consumer needs the support from retail to help her search, source and shop with confidence. There are currently over 1,000 MTick-certified SKUs, with eight of the largest UK retailers displaying MTick-certified dedicated areas online and in-store, helping shoppers find what they need.
Today, the MTick – GenM’s universal shopping symbol and certification for menopause-friendly products – is transforming the retail landscape in an unprecedented way, growing a vibrant, new retail category, underpinned by trust and credibility. United by the MTick, Boots, Tesco, Sainsbury’s, Morrisons, Holland & Barrett, Next, Matalan, Asda and Ocado recognise that not only is serving the menopausal consumer the right thing to do, it also drives commercial growth.
The £600bn menopause market
There is real commercial potential here, too. Menopausal women make up 20% of audiences, forming a potential £600bn menopause market opportunity [Kantar].
By ensuring visibility, accessibility, and inclusivity, retailers can drive incrementality to the category, increasing economic growth, market share and customer loyalty. Let’s not forget, women in menopause are one of the most powerful consumer spenders – they make up the fastest-growing shopper segment and are the primary decision-makers of household spend [Kantar].
We are in collaborative partnerships with over 120 brands and retailers whose leadership teams are committed to understanding and serving the menopausal consumer better, but the naivety of the wider industry is holding us back. Still today, many retail and brand leaders don’t understand just how much the menopause impacts the consumer’s decision-making, and we need to educate business leaders, fast.
It’s time for a switch-up. Let’s think about aisle layouts differently – centred around life stages and mindsets, rather than product categories. Let’s offer better signage and menopause education, and put MTick certification on the right products to empower menopausal women to shop with confidence and trust.
After all, when we deliver on our customer’s needs, she gives us loyalty in return. Together, we’re setting the benchmark for purposeful retail across categories. GenM might not be a retail leader, but it is leading retail.
Heather Jackson, CEO and co-founder of GenM
No comments yet