Posted by Laura Hills, VP of Marketing
The most popular New Year’s resolutions continue to center around making better food choices and leading a healthier lifestyle. People who strive to be as healthy as possible increasingly turn to dietary supplements and nutraceuticals to achieve their desired results and fulfill their New Year’s resolutions. With fast and inexpensive highly processed food readily available, it is not always easy to meet daily nutritional needs with the foods that we eat which fuels the continued growth in the multi-billion dollar nutraceutical market.
The best sources of recommended nutrients are found in a healthy, balanced diet that incorporates fruits, vegetables and fresh, whole foods. We know making healthy and optimal food choices is not always easy; even people that try to eat a well-balanced diet can often miss essential nutrients and that is where dietary supplements and nutraceuticals can be beneficial.
According to a Nutraceuticals Industry Overview published by NewsMedical.net, nearly two-thirds of the American population takes at least one type of nutraceutical health product in an attempt to accomplish desirable therapeutic outcomes with reduced side effects. In RNCOS’ latest research study, “US Nutraceuticals Market Forecast to 2017,” RNCOS analysts estimate the market reaching $75.3 billion in 2017; growing at a CAGR of nearly 6% during 2013-2017. The market growth is driven by the aging Baby Boomer population which is fueling the focus on health and wellness and Generation X concerns about natural, organic and green products. Both of these have helped to increase the consumption of dietary supplements and have propelled the functional food and beverages market as well.
With favorable demographics and an increase in online consumer spending, the nutraceuticals market offers immense opportunities for eCommerce retailers. It is increasingly important for nutraceuticals retailers to be visible across multiple sales channels to reach new and repeat customers. Technology has enabled nutraceuticals etailers to offer detailed online merchandise descriptions, video explanations and offer valuable online shopping assistance to help shoppers navigate the variety of product choices available and the benefits that each product has been developed to deliver.
Managing a nutraceuticals eCommerce platform is no easy task. Utilizing the appropriate technology tools to help manage the gaps between the front-end customer experience and the back-end merchant experience is critical for success. An order management system enables you to gain visibility and bridge the divides between your eCommerce store and back office to stay on top of inventory and order processing across multiple sales channels, keeping customers supplied and satisfied, which will keep them coming back.
A competitive nutraceuticals market challenges retailers to differentiate themselves through effectiveness, price, supply and packaging. As we enter a very busy season and year of growth for the nutraceuticals market, having an automated solution to address order processing, inventory management and customer service enables etailers to efficiently handle increasing order volume and provide personal customer service while streamlining and automating key back office processes all leading to increased productivity and profitability.
An order management system facilitates the integration of business processes from shopping cart integration, selling tools, Payment Card Industry (PCI) compliance and gift card redemption to CRM, fraud protection, inventory management, payment integration, order fulfillment, tracking and logistics across all sales channels. When these diverse processes work together, it simplifies day-to-day operations, leaving nutraceutical retailers with more time to connect with customers, source new products and innovations, develop strategic marketing promotions and keep their business healthy.
Click here to download the white paper Growing Your Health and Wellness Business – Best Practices for Nutraceutical Retailers. Click here to download the on demand webinar Growing Your Health and Wellness Business – Best Practices for Nutraceutical Retailers.
To access the latest RNCOS Study, US Nutraceuticals Market Forecast to 2017, click here. http://www.prnewswire.com/news-releases/us-nutraceuticals-market-forecast-to-2017-212161321.html