15.5m women in the UK and 1bn globally are currently in menopause. Yet retailers and brands have often overlooked this demographic – to the detriment of consumer trust and inclusivity.
Menopause retail partner GenM is aiming to transform this by partnering with major brands such as Morrisons, Holland & Barrett and Boots to meet the needs of menopausal consumers.
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As part of GenM’s Collective, retailers can review product ranges and implement the MTick accreditation. This signposts customers to menopause-friendly products that are proven to relieve any of the transition’s 48 identified symptoms.
GenM co-founder Heather Jackson spoke to Retail Insight Network about the importance of giving women control over their menopause products and why it’s time for retailers to pay attention.
How retailers can raise awareness of menopause
Engaging with the menopause retail sector is a no-brainer for businesses as the global market opportunity is estimated to be £16bn.
But considering this immense market size, why have retailers been so slow to even acknowledge menopausal consumers, let alone provide for them?
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By GlobalDataJackson attributes this delay in adoption to a lack of understanding about the transition itself.
“Menopause is a societal issue and the rhetoric around it is debilitating and fearful. For so long it’s been a taboo and there’s been a lack of medical information. So, it’s unsurprising that retailers haven’t paid attention, but everyone has a role to play in raising awareness.”
GenM’s research finds that 80% of consumers want to shop for products labelled “menopause-friendly,” and 66% believe brands lack clear signposting, making it difficult to find what they need.
Examples of menopause-friendly products include nutritional supplements, temperature-controlled bedding or shampoos for thinning hair, demonstrating the cross-category scope in which brands can get involved.
Retailers should ensure that the items aren’t positioned on bottom shelves, at the back of stores or hidden in the depths of e-commerce search engines.
Focusing on dedicated retail space, GenM recently exhibited a menopause aisle concept where every product carries the MTick symbol.
The crucial point, as Jackson observes, is “not just presuming that we can signpost products that women are already looking for, but directing them to products that they might not even have known they needed. Everyone’s menopause is different.”
Choice and opportunity in the future of menopause retail
Explaining her vision for menopause retail, Jackson draws a comparison with the vegan market, which was valued at $94.2bn in 2023 and is expected to grow at a compound annual growth rate of more than 7% by 2027.
“Vegan products used to be very niche and taboo, and now the market is inclusive and vibrant. [So retailers] need to look at the menopausal audience, which has a 20% market share.”
Jackson aims for the MTick symbol to become as universally recognisable as the V symbol for vegan products. If retailers can commit to better signage throughout their stores, this would remove the need for dedicated menopause aisles.
Retailers also shouldn’t operate under the assumption that menopause retail is only relevant to female consumers of a certain age. “Last time I was in Tesco, there were men and teenagers looking at MTick products. This is actually a market for everybody,” explains Jackson.
As for GenM’s future, following its success in the UK the organisation is beginning to set its sights on the rest of the world. But Jackson emphasises that it’s brands, not countries, that are the real drivers of change.
October 2024 is global Menopause Awareness Month, and Jackson urges retailers to get behind the cause, clarifying: “We’re not asking retailers to cure the menopause – we’re simply asking them to deliver better choices to women.”
