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Health Supplement Stores
First Research, March 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US health supplement store industry includes 5,000 companies operating about 10,000 stores with combined annual revenue of about $6 billion. Major companies include GNC, Vitamin World, and Vitamin Shoppe (formerly VS Holdings). The industry is fragmented: the top 50 companies generate 40 percent of sales.
COMPETITIVE LANDSCAPE
Health and nutrition trends and consumer spending drive demand. The profitability of individual companies depends on product innovation, effective merchandising, and competitive pricing. Large companies have advantages in purchasing, distribution, finance, and marketing. Small companies can compete effectively by providing superior customer service, offering unique products, serving a local market, or leveraging online sales. The industry is labor-intensive: average annual revenue per employee is less than $140,000.
Health supplement stores compete with discount stores, supermarkets, drugstores, mail order and Internet retailers, health food stores, and direct sellers of supplements.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products sold in health supplement stores include vitamins, minerals, and dietary supplements (70 percent of industry sales) and grocery items. The vitamin, mineral, and health supplement (VMHS) category includes 'alphabet' vitamins, multi-vitamins, aromatherapy, herbal extracts, and macrobiotic, homeopathic, herbal and botanical remedies. Sports nutrition products include protein and weight gain supplements, sports drinks and bars, and high-potency vitamins. Weight loss products include diet pills, shakes, bars, and teas; meal replacements; and low-carb items. Other categories include beauty care, pet care, books, and magazines.
The health supplement store industry includes national and regional chains, franchises, and independent retailers. Typical locations...
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