Today, global consumers use supplements to support a variety of functions with regard to health problems, living a healthier lifestyle and adding essential nutrients to their diet. The global nutraceuticals product market is expected to reach over $204 billion by 2017. Given the worldwide increasing demand for dietary supplements from the health-driven consumer, there is now a huge opportunity for distributors to develop private label nutritional products to further their nutraceutical brands and increase sales within this industry. This process can be extremely challenging; however, through customized communication and focused supplement marketing strategies, distributors will find that they are able to supply consumers with the exact nutritional products they are in search of.
Finding your target market is the initial step in connecting consumers with the correct private label supplements. This creates a clear and concise relevance for your nutritional products, and through careful examination of market demographics it is easier to determine who your products will appeal to. Some factors to take into consideration during your research include age, gender and geographical/regional factors, as many people find that taking nutritional supplements can be an easy and effective way to improve overall health and wellness.
Another factor to consider is determining what attributes are important to a consumer. Many consumers choose to take a multivitamin on a daily basis, while others choose various types of supplements including vitamin C, vitamin B, vitamin D, calcium and omega-3. For other consumers, the latest innovations will drive purchasing patterns. For almost every health concern among consumers, there is a nutraceutical product that targets the specific issue. Some of the most popular supplement categories include weight loss, cognitive support, energy support and pre-workout and post-workout formulas. To effectively address these types of needs, you must be aware of current market trends and patterns amongst consumers. This enables you to create a product line that will drive revenue growth and provide consumers with advanced, cutting-edge nutraceutical products, as well as core category products.
Communicating with your target consumer also plays a major role in being successful within the nutritional marketplace. Developing a marketing strategy that conveys the benefits of your product will increase brand awareness and loyalty among your consumers. It is extremely important for consumers to know who you are and what makes you credible within the industry. The success of your market strategy depends on its ability to be diverse, practical and innovative, while matching the meaningful benefits of your nutraceutical products to your target market. These benefits may vary between market segments, so it is imperative to closely examine what the consumer actually sees. Knowing what your target market demands may help to reposition an existing product to better reach that particular market. This also allows you to change the way your target market perceives a product, whether it be through new supplement packaging or slightly modifying the products primary claim to now meet the needs of larger consumer market segment.
Providing accurate product information is another critical part of building trust with consumers and creating a positive brand image. When consumers interact with your brand, most times they have high expectations; therefore, you must provide accurate claims and information with regard to your private label products to secure a loyal consumer base. Furthermore, this can directly impact your business’s bottom line profits and help retain the business of a loyal and faithful consumer base.
While private label products account for 17% of US fast-moving consumer goods sales, each stage of developing a private label brand has its unique challenges. Working with a reputable supplement manufacturer that will provide quality control testing, graphic design support, packaging and label creation as well as marketing support is an essential key to success within this industry. As a distributor, you are an important piece to the nutraceutical market puzzle, connecting consumers all over the world with focused private label supplements and products that specifically target their needs. For more information on our innovative supplements and products, and to find out more about the variety of services designed to support your growing nutraceutical business, please call us today!