Hellow guys, Welcome to my website, and you are watching Amazon is "King of the Supplement Industry" | Top-Selling Supplement Brands & Subcategory Sales Data. and this vIdeo is uploaded by Joshua Schall at 2024-07-01T08:14:43-07:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | Amazon is "King of the Supplement Industry" | Top-Selling Supplement Brands & Subcategory Sales Data |
| Video Uploader | Video From Joshua Schall |
| Upload Date | This Video Uploaded At 01-07-2024 15:14:43 |
| Video Discription | With great power comes great responsibility, right? But does the “Peter Parker principle” still apply when you are the undisputed king of the entire vitamins, minerals, and supplements (VMS) market? Even before the “Great Shutdown” period, “household, health, and baby care” was the largest consumable category on the Amazon marketplace…of which “vitamins, supplements, and sports nutrition” was the biggest subcategory. But the 2020s has seen Amazon’s power within the supplement industry become even more impactful…as the rate at which the retail giant is gobbling market share is unprecedented and seems almost limitless at this point. And much of its success can be attributed to the famous “Amazon Flywheel.” Customers love the almost endless selection, lower pricing, and overall customer experience on Amazon. Brands enjoy the lower barriers-to-entry on Amazon…knowing they can reach people immediately, generally at a lower cost structure. This allows more opportunity for innovation from those supplement brands, thus making Amazon an incubator of product attributes and trends. Right now, it's estimated that four out of every five online transactions for supplements happen on Amazon. Moreover, ecommerce accounts for over 25 percent of total supplements market sales. According to recent SPINS 52-week data for the period ending May 19, 2024…Amazon sold $14.88 billion in VMS products, which was up an astounding 22.4% YoY. If you were wondering how that stacks up against the portion of supplement sales at other major retailers, Amazon’s lead is significant…to the tune of more than double the second-largest VMS selling retailer. But as Amazon continues to grow, supplement brands face the stark reality of figuring out how to navigate an increasingly dynamic online marketplace environment. Amazon can no longer be a passive sales channel and supplement brands (small and large) should be using every tool the online marketplace offers to help drive sales performance. Currently within the VMS category on Amazon, the top 5 sellers are Garden of Life, Optimum Nutrition, Now Foods, Pure Encapsulations, and Nutricost. I'll also share some top growing Amazon supplements brands and breakdown performance in subcategories like Protein, Hydration, Pre-workout powders, Greens, and Creatine. But four months ago, in my last supplement industry content piece related to Amazon, you might remember that I left off by declaring that despite the increased run-ins with the FDA recently…I didn’t believe the leading online marketplace wouldn’t indulge in the “poison pill scenario” that was defined by me as totally abandoning the supplement categories. Instead, Amazon would figure out how to increase its compliance hurdles to appease governmental agencies and supplement industry stakeholders. So, in an sort of industry disrupting move, Amazon increased its compliance hurdles to appease these various parties…starting initially with hot button FDA supplement subcategories like sexual enhancement, weight management, and sports nutrition. Amazon’s new policy mandates that the company selling supplements in those beforementioned subcategories must receive third-party testing documentation directly from either Eurofins, UL Solutions, or NSF International…which are currently the only testing, inspection, and certification firms qualified by Amazon. Additionally, the testing requirements have expanded a bit past the original GMP compliance and label claim verification. #amazon #supplements #ecommerce I appreciate each and every one of you that took even a moment of your time to watch this video. I know your time and attention are your biggest assets and I hope you got adequate value in return from this content. Thank you from the bottom of my heart! ✅ CHECK OUT THE PODCAST ON THE FOLLOWING PLATFORMS: 🍎Apple: https://apple.co/3aPKOOJ 👽Spotify: https://spoti.fi/38N9nur 🔍 Google: https://bit.ly/2vgVTcy ⚓Anchor: https://anchor.fm/joshua-schall FOLLOW ME ON MY SOCIAL MEDIA ACCOUNTS ►LINKEDIN https://www.linkedin.com/in/joshuaschallmba ►TWITTER https://www.twitter.com/joshua_schall ►INSTAGRAM https://www.instagram.com/joshua_schall ►FACEBOOK https://www.facebook.com/jschallconsulting ►MEDIUM https://medium.com/@joshua-schall About Joshua Schall of J. Schall Consulting: Joshua is consumer packaged goods (CPG) Strategist and Entrepreneur that focuses on the product categories of value-added (or functional) food, beverage, beauty, and nutritional supplements. He was an early advocate for digital grocery optimization and is an expert at the entrepreneurial ideation to consumerization cycle. Recently, he has shifted that decade of knowledge into early-stage investments, board membership, and public speaking engagements. His YouTube channel is a walk through his daily life and a peek into his business musings. Enjoy a look into his life through the lens! ►EMAIL [email protected] |
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