The health and wellness market is predicted to be the next trillion-dollar industry and will continue to grow as consumers lead more health-conscious lives.
One very popular health and wellness niche in 2019 was vitamins and supplements. This niche is growing 40% more than it did last year.
So, we’ve put together a guide to selling vitamins and supplements online. Take a look and start building your successful online business now.
The Difference Between Vitamins and Supplements
First, what are vitamins and supplements? Is there a difference between the two? Well, yes and no. Both of these products fall under the health and wellness category. Amway Connections states, “a vitamin is a type of chemical compound that is a vital nutrient for an organism,” while a supplement “can contain a combination of vitamins, minerals, and/or phytonutrients.”
Simply put, a vitamin is a type of supplement. A supplement is a manufactured product that supplements your diet, usually a vitamin, fiber, or amino acids. Supplements can come as a tablet, capsule, powder, drink, or energy bar.
Quick Guide to Selling Vitamins & Supplements
Vitamins and supplements are a great niche to sell in, but it does have its caveats. If you aren’t an expert in the field, expect to do quite a bit of research. There are numerous guidelines, product lines, and regulations.
Research Industry Trends for Product Ideas
You must become an expert in the vitamins and supplements. Read new scientific studies and medical advice, look for reviews of various product lines, and use Google Trends to search for your niche market. To choose a well-rounded product range, follow related ecommerce trend publications and blogs for new updates and advice.
Easy Options to Source Vitamins & Supplements
Rather than investing time and money formulating your own line of vitamins and supplements, opt to buy from a wholesale supplier like Vitalabs. Another great option is to sign up for an affiliate program, like The Vitamin Shoppe’s. With either of these options, you’ll market and sell the product online but won’t have to store them.
Since you are attaching your business to another brand, it’s important to like the products and support the wholesaler or affiliate company’s values. Once you’ve built a successful business and can take the time to create products, look into a private label option.
Follow Government Guidelines
Each country has a specific department that regulates vitamins and supplements. To avoid legal trouble in each county, make sure you meet all requirements set forth by the specific government entity.
For example, the Food and Drug Administration (FDA) regulates all production and sale of vitamins and supplements in the United States of America. When labeling your products in the United States, all ingredients must be listed, as well as the manufacturer, packaging site, product description, and the word “supplement”. While you’re allowed to display fact sheets from National Institutes of Health and certifications from FDA-approved organizations, you cannot make claims that a product will treat conditions or provide medicinal benefits. Any claims you do make must be accompanied by the following FDA disclaimer: “This statement has not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.”
Start selling in one country and do your research. Once you’ve met all the requirements and built a strong market in your first country, expand and build a new product line that meets the new country’s guidelines.
Properly Store Inventory
The way you store vitamins and supplements impact their shelf life and potency. For example, high levels of heat and humidity will degrade the quality of these products. Many people falsely assume the kitchen, or a bathroom, is the best place to store these products, but due to the fluctuating temperature and humidity levels, the vitamins and supplements degrade quickly.
The best place to keep your stock of vitamins and supplements is in a cool, dry, dark part of a warehouse. See if your warehouse or 3PL offers climate-control storage options. If not, you may need to look for an alternative.
Effectively Market and Brand Your Business
Choosing a target audience, with specific demands and wants, is an important part of your business strategy. It affects how you market products and build a brand. Since vitamins and supplements can have multiple uses, the target audience will determine which benefits to emphasize in your marketing message.
The same is true with packaging design and other branding materials. If you sell natural vitamins and supplements, use a green bottle and outdoor graphics to convey the natural theme. Customizing the brand and marketing to your audience will pay off in the long run.
If you’re passionate about the health and wellness industry or thinking of taking your pharmacy online, vitamins and supplements can be a profitable niche. It’s a great way to target a wide audience and make a profit in the health and wellness market.
Do you have any tips for selling vitamins and supplements? Have any experience selling them? We want to know what you think, so share your thoughts below in the comments section now.
Looking for more information on E-Pharmacies and other ecommerce trends? Check out our blog, it’s full of great resources to help become an online selling machine!