Posted by Laura Hills, VP of Marketing and Business Development
It’s the new year and the most popular resolution is to be healthier. Losing weight continues to be the most popular resolution and increasingly consumers are turning to nutraceuticals to maintain and improve their health. This trend, coupled with increasing health care costs, an aging Baby Boomer population and a rising interest in health and wellness through diet has fueled the growth in today’s nutraceuticals market. As people are striving to be as healthy as possible to get the most out of life, the use of nutraceuticals to achieve desirable health outcomes has seen tremendous growth and financial success.
According to the Fredonia Group’s market intelligence report, “World Nutraceutical Ingredients,” the U.S. will continue to be the largest global consumer over the next five years with the market achieving an 8% compound annual growth rate from 2011 through 2015. The report also estimates that close to two-thirds of the American population take at least one type of nutraceutical health product.
The nutraceutical market has become very competitive and retailers are finding that price, safety, efficacy, supply and packaging all play a role in their ability to succeed. Merchandising, inventory management and sourcing are keys to success as large multi-channel chains with private label brands, pharmaceutical companies, small local suppliers and retailers compete for business. For small to mid-sized eCommerce companies selling nutraceuticals, it’s critical to have an order management solution in place that enables them to handle increasing order volumes while streamlining and automating key processes.
A truly full function order management solution needs to easily integrate all of your 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 business channels. These diverse processes need to work together to simplify your day to day operations, leaving you more time for connecting with your customers and keeping your business healthy.
At Dydacomp, we work with nutraceutical retailers and fulfillment operations to help integrate their order management processes from shopping to shipping to simplify commerce and grow their business. Our customers collectively generate more than $200 million in sales each month, and we’ve learned from them what has been most effective in helping them grow. We look forward to sharing with you the benefits of finding and implementing the best order management platform for your nutraceutical retail operation so you can provide the right products and services along with the best shopping and fulfillment experience for your customers.
Click here to download the white paper Growing Your Health and Wellness Business – Best Practices for Nutraceutical Retailers.
Click here to register for the Webinar Growing Your Health and Wellness Business – Best Practices for Nutraceutical Retailers on Thursday, January 17th from 2:00 – 3:00PM ET.