What is in and out for wellness in 2026

0:09Hello, everyone. Welcome to the Modern Retail Podcast. This is senior reporter Gabby Barco, and I'm here with Melissa Daniels. It is a new year. Happy New Year, Melissa. Happy New Year, Gabby. It feels like we're already wrecking and rolling. I think so. Yeah. So we are kicking off the year with, of course, like a new year, new you themed episode. But this time we really are interrogating what wellness means or wellness resolutions mean, right? I feel like to me that definition constantly evolves right now. Like moderation is a pretty big theme. But, you know, over the last few years, we've really seen different types of brands lean into it.

0:56And it's gone beyond just dry January. Absolutely. I think what's interesting about this space is that it really can touch all areas of your life. There's physically how you treat yourself is the new year, new you. What you're eating, what your activity is, what you're doing with your appearance. And then there's also a lot of new year, new you that's kind of like more holistic. Like, what are you doing with your space? What are you doing with your routines? What are you doing with your closet cleanouts? I feel like I'm seeing so much content around closet cleanouts right now. There's a whole host of things that go into it.

1:34Yes. So today I'm actually going to be joined by Rachel Hirsch. She is the founder and managing partner of Wellness Growth Ventures. She's very well-versed in wellness trends and has invested in a lot of brands in the space like Belly Welly and Cure Hydration. And so what we did was basically break down what we think is in and out in wellness for 2026. So before, you know, her and I kind of get into it and talk about what we think is trending or kind of, you know, already a fad that's on the out, I would love to hear what yours are. Do you have like a what's in and out for 2026? Oh, man, I don't think I got that diagnostic about it.

2:19Although I will say for me personally, the main goal is just more fitness and more activity. I can't say I've had a specific retail. It is a classic. I just kind of went back to basics and like, can I make sure I'm doing like one sustained physical activity thing every day? And then I think for me, that couples then with just some better habits around eating, hydration, supplements, that kind of thing. From the more retail standpoint, though, and we've talked about this before, I just think the way we've seen protein escalate is going to be replicated by other types of nutrients and supplements.

2:59Like I think fiber, I think magnesium, L-theanine, all these things are going to get even more popular this year. Yeah, well, you're kind of previewing the segment a little bit because we do talk about some of those. Yeah, I agree. I think for me, it's definitely consistency is my biggest weakness is doing things on a regular basis in order to actually see the benefits like taking your supplements every single day instead of every other day, which was my pattern for a little while before I really honed in on my routine. You're a prime candidate for some of the subscription businesses then. I feel like that's one of their...

3:43one of their selling points. And they're like, don't forget to take it because we're going to charge you and send it to you anyway. Yep. Yeah. I've already gotten the notifications about my subscribe and save going through already. So I don't have a choice. I have to take them. Exactly. You may as well take it. The box is showing up. I'm curious though, in your conversation with Rachel, did you walk away feeling like there were different areas or different sectors or different companies that you're planning on keeping your eye on this year? Yeah, I think so. I think definitely a lot of the brands in this space, not just supplements.

4:18I mean, it really goes for beauty, for example. I think the way skincare is evolving and routines are evolving is going to be really interesting. But I think the biggest takeaway I got from her was that even VCs are, you know, just as skeptical of a lot of these trends as we are. And obviously that, of course, you know, goes into a lot of the decision making. But, you know, right now, for example, we have like gummy supplements, right? They're all the rage. So it's like, what is the longevity of that? So we discussed some of that and I think skepticism is always good because trends change so fast and the cycles change so fast.

5:02Yeah, well, I can't wait to hear your conversation. Let's get into it.

5:11Today, I am joined by Rachel Hirsch, founder and managing partner of Wellness Growth Ventures, who is joining me to talk about all things wellness and pretty much our predictions for what's in and out in 2026. Rachel, welcome to the show. Thank you for having me. This is going to be so fun. Yeah. So let's set the table for our listeners. Today, we have three rough categories that we're going to go into and we're going to kind of go back and forth and deliberate a little bit about what we think is going to be in and out. So for example, we have food and beverage first, then we have beauty, skincare, that involves everything from makeup to skincare routines.

5:56And then at the end, we are going to top it off with health and wellness, which can mean anything from fitness trends and routines to supplements. So yeah, let's get right into it. I will let you take the lead. You are our guest. I'll let you go first. So yeah, food and beverage. What do you think is out and what do you think is really going to grab people's attention in 2026? I loved that you said out first because I've really been on the out first and then land with the positive after and everyone goes the reverse way. So very, very against the grain of view. But I think adaptogens are out in 2026.

6:36I think they've been overdone. They've sort of like dangled around for so long and everyone's like, what are we doing with them now? Like, is there any efficacy? Why do we have them? What's the point? So 2026, adaptogens, they're out. Okay, we're starting off with a hot take. We know a lot of brands. Yeah. And of course, you know, for everyone listening, like these are obviously our hot takes. They're not the definitive guide for wellness, but this is from our vantage and what we see day to day, right? So yes, I do see saturation in adaptogens, mushrooms, mainly because I have to be honest, I don't really know what they do.

7:12Like I believe the brands when they say that they boost your mood and they help with digestion. But I don't know. It's a little vague to me still. So I think here's my thing. And don't get me wrong. I don't think they're out in terms of I won't have a drink that has them in there or I won't add them to a smoothie or ask for it to not be added to a smoothie if I'm getting one. I don't think it's that far. But I think with the rise of clinical, I think with the rise of people being able to track so much data, whether it's through their Oura Ring or their Whoop or whatever it is, I think that people want to see immediate and strong effects.

7:51And that's not the purpose of adaptogens. So people, I think in 2026, are just looking for something stronger, more medical rather than maybe a support function, if that makes sense. Yes, I agree. I do think the sort of evidence-based products are really taking over more recently. And I wonder if you think that has a lot to do with recessionary periods. I'm going to probably bring that a lot when it comes to routines. But yeah, I don't know. Is there any truth to that, that people do want to kind of strip everything down and really get to the science of things when they're making these decisions?

8:29Yeah, I think the recession piece of it is actually super interesting because part of it sure is like the recession era. But I also think people are in their minimalist era of like we used to put on 10 different things in our skincare routine. And now people are looking for like three instead of 10. And I wonder if there's similarity there. Like when you put together your protein shake, do you want a hundred scoops of different things? Or are you looking for like the most efficacious top three? And again, that also plays into the recessionary idea of that should theoretically be less expensive, although arguably maybe not.

9:09Yeah, that's a whole different topic, I feel like. But okay, so with that, I mean, yeah, let's get to the positive. What's in? So I think a little bit the idea of food is medicine, but food being functional for people. I think that's going to be really in this year is people want, yeah, food to have a purpose beyond just tasting good. And I think that you can see that with a protein craze to some degree that can fall into that category with people really wanting a purpose to what they're eating and what they're consuming rather than it. I mean, some of this protein really doesn't taste good. Yeah.

9:50Well, that's actually a perfect segue because I can give my in and out or out and in. Yeah. So for food and beverage, this is a topic I follow pretty closely, obviously. And so I do agree. I think something like protein, which dominated the headlines the last couple of years, It's not going away. I just wrote a story about this. It's not going away. There's way too much money in protein. So expect it to stay around. But I do think there's going to be more of a balance. And what I mean by that is like looking at the bigger picture of what your nutritional panel looks like. So that brings something like fiber in, right?

10:27Or like super foods or anything else that you want to incorporate. Maybe you need to boost your iron, as I'm being told, you know, because that will help with sleep and energy. And so I don't think the sort of cut and dry high protein is maybe going to dominate our feed as much as it has been, because there was like sort of this craze the last few years. And now something like fiber, which arguably is just as important as protein, is coming in. And so I'm actually wondering your opinion on this? Because as an investor, obviously you get so many products come across your desk and you are yourself an investor.

11:06This is a good time to maybe mention some of the brands that are playing in this space. Do you think they're positioned to maybe, you know, avoid that sort of fly by night, you know, catering to certain macros or certain trends type of trap that a lot of better for you brands fall into? I actually, not to be so counterculture, but I actually think we're at an interesting time where I don't think we've hit mass penetration of GLP ones. I think we're still in early innings. And because of that, I think the typical time cycle of something having its era, like protein having its time or Pilates having its time, I think is going to be elongated because of GLP-1s.

11:50It's not a typical cycle. It's induced by behavior changes of big pharma. So I agree that protein has like definitely hit, hopefully, mass saturation. I mean, when Mel Robbins comes out with a protein shot, like, you know, you've hit mass saturation. But yeah, I mean, my hope is that we will also gain clarity of how much we're actually absorbing, how much varying bodies, varying body types, varying demographics, varying ages, like all of those pieces, what you may or may not actually need in terms of protein. And so that becomes, again, a more holistic conversation. Again, like bringing maybe back into it, the fiber, the prebiotic, all of those pieces.

12:38What are, maybe, is there like a brand that stands out to you that maybe you think is a good example of somebody that's kind of balancing all of this? Not maybe in the protein space. And I will, in total transparency, I'm an investor in this company, but I think Belly Welly has done a really strong job of this. I think that we did see this cycle of fiber being like the it thing. And they have longevity just beyond the moment of, like I need to use the bathroom type fiber. And I think that that is actually really hard to do. And we saw, especially during COVID, so many companies monopolize whatever the height was, whatever they were talking about for the minute and gaining all their fame and then basically sunsetting the company.

13:25And so I have to give a lot of credit to a company like Belly Welly, who rode the wave of fiber way before it was, you know, this mass messaging piece. and it will definitely be well beyond just based on market penetration. Yeah, and I think that also, of course, overlaps a lot with gut health, right? Which we know is more of a macro, you know, that's not going away. That's here to stay. And so, yeah, something like protein really plays in that, especially when, you know, I think they did a good job with their marketing campaigns really normalizing, you know, like how girls have IBS. Like I feel like, you know, we weren't really seeing that before.

14:06It was, it's not a sexy topic. And now you can kind of peel back the layers and, you know, talk about all of the other benefits maybe. Absolutely. Yeah. And I think you see it too with hydration, although I don't know that they've seen, you know, the height. I think it's your hydration again. Like I'm an investor, transparency, but they have done a really good job of liquid IV, I think was the OG and people questioned, would there be room? Is this category big enough for others? And I think you've absolutely seen that there are different reasons, different types of hydration and different use cases, different demos.

14:40Again, same thing. And the importance of hydration in absorbing other nutrients and like all of those pieces, I don't think we've seen it play out. And so for a supplement company in particular to last beyond, I think it's such a skill. All right. Well, next up, we are going to talk about beauty trends. So full disclosure, I don't follow beauty as closely as I do food and beverage and wellness overall, but there is something to be said about beauty and skincare really overlapping with this space, right? I mean, I make this joke all the time, but I feel like any brand could position themselves as a wellness brand these days just by tweaking their messaging.

15:22So you have, of course, beauty really comes into that because it's all about ritual. and building routines. So I will go first. I have a feeling we maybe overlap or have a little bit of a similarity between our calls. But I do think that something you alluded to earlier on is that multi-step, 10-step skincare routines are probably going to continue to go away. I mean, obviously this is not new. We've been hearing this for a few years now, but I think an all-in-one or hero products we're hearing a lot about, right? You see a lot of beauty and skincare brands, something like the blush stick that you can put on your eyelids and your lips and your cheeks.

16:07I think that's really penetrating across all different categories, including something like skincare and serums and moisturizers. So that is such a pendulum swing to somebody who started getting into skincare 10 years ago when we had the 10 step routines. down. And again, is it a reaction to recessionary patterns? Maybe, maybe not. But I actually think there's something else that's playing into it. I'm going to kind of tag this on. But I also think maybe more minimalist, like shorter nail designs kind of fall into this. I say as I'm like, please with my short with my short nails yes so I did a kind of a deep dive and by that I mean I just went on nail reddits uh subreddits and just looked at all the trends and you know for like a few years now we've had these blonde colorful acrylic nails that kind of dominated the feeds or maybe anecdotally speaking you know a lot of women around us have them um I don't think that's going to go away.

17:13We still have bright, colorful nails. But more and more, we are seeing more of an argument for keeping your nails shorter and really focusing more on nail health versus just design. And so I was wondering how you feel about this. I feel strongly because this is where I lean as somebody who doesn't like having long nails. But yeah, I do think this all plays into each other what do you what do you think I have not even thought of it and I'm so into it but I will I'll I will attribute it to some degree and like this might be a stretch but I genuinely believe a little bit of that's the Hailey Bieber effect yes of like her nails her the her look overall is like less is more theoretically and I think she is just like she dominates over and over again And like just when you think she had her moment, it's like she's still the it girl.

18:07And so I think a little bit of that plays into like maybe the Kardashian look fading out and the Hailey Bieber look coming into play. So mine play into yours so well. And I like wonder if we're really on the nose with it then because mine are saying it a little bit too boldly maybe. But I think color is out. And I think skincare science is in. And I know we've heard all that before. but L 'Oreal just took a really big stake in Glyderma and I'm not sure if I even say that right but I'm so dyslexic that that's how we're going to say it today and they're more like aesthetician style think like Botox filler even like those types of med spa products which for a color cosmetics company to make that kind of investment I think is such a signal to where they are not just placing future plans, but like that's where they're placing financial dollars.

19:07Like their real bets are going into more the idea that color cosmetics might not be the future. And that I guess leads into my in, which is that science in terms of skincare and sort of like biotech meets skincare has real legs into the future. No, I think the sort of muted palettes or at least lack of color is definitely a big theme. I mean, we saw it with Pantone's announcement of their basically white color of the year. I was reading about this the other day, but apparently, historically speaking, neutrals and white has been associated with more recessionary periods and also like political volatility.

19:52You know, anytime things are really going crazy on the outside, I think people tend to strip back and maybe, yeah, strip back their routines. So yeah, find their calm in a like really neutral color. Exactly. And so of course, again, we're not saying color is going away, but I do wonder whether brands and especially in beauty and skincare are maybe taking cues from those. And Of course, you have the white Pantone color staring down the barrel for us. Yeah. So I don't know. What do you think? Do you think in a year we're going to look back and be like, none of that is true? I can't wait. I want to do like in 365 days a follow-up where we really do look at this.

20:41I want to be held accountable. You are welcome back in one year. Thank you so much. I just invited myself back. Exactly. We'll hold ourselves accountable. Okay. Well, next up in health and wellness, Rachel, I really want to hear your thoughts on how everything we talked about, whether it's the GLP one of it all, gut health, everything, how is that impacting workout or exercise routines right now? Obviously, we've seen strength really take over the last few years. So yeah, do you think that's here to stay? I think cardio is out. I think we're seeing the death of soul cycle and intense cardio like that.

21:23I think if anything, you'll see a resurgence of soul cycle in a weightlifting series. And then my in is that I actually think weightlifting is in. And again, this all sort of ties back to my GLP-1 thesis of early innings of it really penetrating. Yes, I do agree. I think that's something we've seen for a few years now, right? I mean, we talked the past few months about things like how that's impacted just workout gear, right? I mean, there is a reason why something like Nike Skims got that big hoopla, right, is because they're really focused on performance and weightlifting versus Lululemon right now.

22:06I feel like it's maybe going through some growing pains where it's like, you know, it's like the death of the yoga pant or the yoga legging. And so, yeah, again, I don't know if that's like a 2026 thing, but it's definitely crawling that way, right? Right. I mean, Lululemon is a whole different one to unpack the fact that they still make so many skinny leggings and like don't make anything wide leg conversation for another day. But I think their investors and their borders already on that one. Um, but I, I do, I think like, think high rocks, think when you even think about the sheer number of women in America from a percentage perspective that are in perimenopause or will be in menopause by 2030 is such a wildly high percentage that just from a needs basis, from what happens to women when they're in that stage, weightlifting is a necessity from like a healthcare perspective.

22:56Yeah. And then I guess with that, I actually had something similar in mind for my in and out, even though obviously weightlifting has been in for years now, but it's just going strong, no pun intended. But so how do you think outside of the aesthetic and like the apparel, the fashion aspect, how is this impacting like things that, you know, we're on the same age that we came of age thinking like that was the epitome of fitness, which is like, yeah, the cycling class, the spin classes, all of the cardio that we were all doing in the 20 teens is now like, it's almost like it's uncool. Just like wearing skinny leggings.

23:37Like I have to wear baggy pants and I have to lift weights. It's like the antithesis of what I learned. Literally swung so far the other way. But I mean, even think about it. Flywheel was a really intense competitor of SoulCycle. Flywheel doesn't exist anymore. more. Right. I think about a year ago, SoulCycle sent out a survey that was like, what would make you come in more? First of all, the fact that SoulCycle is sending out a survey like this, that should have been the first red flag of like, things are going awry. But now they're trying to put together strength training classes. They're doing two weeks for$50.

24:11They're like, they've really fallen into the orange theory category of how they try to get people in the door now. And when the middle's falling out, it's just, I don't know if they can pivot. I'm sure they can with a balance sheet of Equinox. But it's a big challenge because what they are known for from a brand recognition standpoint is so vastly different. So it will be super interesting to watch and follow. Yeah. But I think Peloton's an interesting one there too. Yes, because they have diversified. And obviously the content is really what drives their revenue, not necessarily the hardware.

24:51But yeah, I mean, Peloton and SoulCycle, like it's in the name, Cycle. So it's almost like you're not necessarily rebranding, but this kind of brings me to my next point. It kind of speaks to all of the categories we went through. But I like to ask investors this a lot, which is like, how risky is it to tie an entire business model or brand identity to, I guess maybe at the time, I don't think they thought they were trends, right? We just thought this was, we're all going to cycle our lives away forever with these$40 classes. But like, you know, you just don't know when the pendulum is going to swing.

25:30And so what do you tell brands, I guess, when they come to you and they're like, we're going to be the protein or the fiber or the, you know, the strength class or whatever? Oh, that's such a big question. I think a few things. With the SoulCycle example, I'll say that acquisition of Equinox, that I think they were betting on boutique fitness. And it was a time when Equinox was even contemplating doing boutique fitness studios. So if anything, the mistake was plausibly not making it a conglomerate of boutique fitness studios, almost like an exponential fashion. Maybe, maybe I'm totally wrong there.

26:06I think with early stage, which is so vastly different, the needs from like a total addressable market are so much lower and smaller that my hope is that like fiber, for example, when the founder of Belly Welly came to me and started talking about IBS, I was like, yeah, but it hadn't hit mainstream yet. So that's almost as an early stage investor, you're hoping that you're finding something before it goes mainstream because that's going to be hopefully so much further down the line. But early on, my total addressable market needs are so small that the cyclicality of it is to be expected, but further down the line.

26:45Does that make sense? Yeah, we see this a lot where it's almost like they were too early or some brands are too late. But the nice thing about being early is that you have laid down the groundwork. But again, I mean, okay, let's take something like supplements, which we don't really get into, but something like the gummy craze, right, which we have spoken a lot about. Like, I do wonder, I'm like, yes, the technology is improving and more people do take, apparently the data shows people do take gummies more. So that's kind of coming down to like dosage, which one's more efficacious. But yeah, I think tying maybe your entire product line, maybe to gummies.

27:27I don't know. I don't know the answer, which is why I'm asking you. That's why I guess I was kind of asking, like, what are the risks and the rewards of that? Yeah, I guess in my gut, pun not intended, is that some of these brands aren't actually tying themselves to the identity of a gummy, but to the identity of being greens or to the identity of being fiber or whatever it might be. so that my assumption is the technology will continue to improve. But should it not, they can hedge and their brand identity is still the greens or still the fiber or whatever it might be. And so the gummy piece, I think, is a whole different rabbit hole that you tell me whether or not you want me to go down.