Overview of the US retail market for imported dietary supplements
The US retail market for imported dietary supplements has grown steadily in recent years. According to the Economic Research Service (ERS), imports of dietary supplements into the US have grown from approximately $3 billion in 2013 to nearly $7 billion in 2018. This growth is largely driven by increased demand from consumers, who are increasingly looking for products that provide health benefits beyond basic nutrition.
Posting Sales of Imported Dietary Supplements in the US
The ERS reports that an estimated 79% of dietary supplements imported into the US are sold through retail outlets. Approximately 69% of these sales are made in brick-and-mortar stores, while the remaining 31% come from online retailers. The most common types of retail outlets for dietary supplement purchases include vitamin and supplement stores, drugstores, supermarkets, and health food stores.
Market Share of Imported Dietary Supplements in the US Retail Market
The ERS estimates that imports of dietary supplements accounted for nearly 50% of the total US retail market for vitamins and dietary supplements in 2018, up from 40% in 2013. This growth can be attributed to a number of factors, including the increasing popularity of imported dietary supplements among consumers due to their perceived health benefits and the availability of a wider range of product offerings in the retail space.
To boost sales of imported dietary supplements in the US retail market, it is important to understand the strategies that can be used to reach and engage customers. By understanding the US retail market and using effective marketing techniques, sellers can connect with buyers and encourage them to purchase their products.
This blog post will explore some of the strategies that can be used to reach and engage customers in the US retail market for dietary supplements. By understanding the customer base and using targeted marketing efforts, sellers can successfully boost sales of their imported supplements.
Understand your target audience and what needs they have that your product can fulfill
Understanding your target audience is essential to successful product development and marketing. Knowing what needs they have that your product can fulfill allows you to craft advertising campaigns and messages that engage them on their terms.
Doing market research will help you understand who your customers are, which in turn helps create a personalized experience for them with your product.
Research the competition and find a way to differentiate your product
Understanding the competition is an essential part of any successful business strategy. Taking the time to research and analyze their offerings, approaches, and marketing campaigns can provide insights into how to differentiate oneself from them and stand out in the market.
Such analysis can show you what value your product or service offers that others do not, allowing you to focus your resources on entering new markets, improving user experience, or launching innovative solutions that meet customer needs and wants. Leveraging these strategies can set you apart from the competition and lead to success for your business.
Make sure your packaging is eye-catching and informative
Effective packaging can make a huge difference in the success of a product on the market. It should be simple, yet eye-catching enough to make potential customers look twice. Make sure to include pertinent product information, such as size, weight, and usage instructions, while keeping branding consistent across all of your products.
Invest in digital marketing to reach a wider audience
Investing in digital marketing is a smart strategy that allows businesses to reach a much broader audience. There are several effective ways to make use of this type of marketing including search engine optimization, social media campaigns, and even paid online advertisements.
By utilizing these tactics, companies have seen increased visibility, higher click-through rates, and an overall increase in potential customers. The potential rewards for investing in digital marketing far outweigh any potential risks making it an effective way to reach more customers and capture more business.
Get creative with your sales strategy – offer incentives, discounts, or free shipping
As a business, it is important to stand out in the market. To do so, you should come up with creative sales strategies that entice customers. Offering incentives, discounts, and free shipping are ways you can incentivize potential buyers.
As people make decisions on purchases, they may opt to go with a cheaper or more discounted option. Enticing them with extra perks like free shipping or discounts means that more customers will become loyal patrons of your business. Utilizing these strategies could help sustain your customer base and even bring in new ones!
To summarize, to increase sales of your product it is important to
- 1. understand your target audience and what needs they have that your product can fulfill
- 2. research the competition and find a way to differentiate your product
- 3. make sure your packaging is eye-catching and informative
- 4. invest in digital marketing to reach a wider audience
- 5. get creative with your sales strategy – offer incentives, discounts, or free shipping For more help with increasing sales for your product, contact Trulife Distribution today!