Industry Analysis & Industry Trends
The Vitamin and Supplement Stores industry has toughened up after weak performance in previous years. Over 2008-09 and 2009-10, consumer expenditure on vitamins and supplements was weak, amid low sentiment and increased levels of savings. Consumers seeking vitamins and supplements shifted to cheaper, low value-added varieties sold through supermarkets, grocery stores and pharmacies. However, as the economy picked up, consumers returned to shop at specialist vitamin and supplement stores.
The industry has been further assisted by growing health consciousness. Employee product knowledge has been a key driver of industry growth, with customers willing to pay extra for advice on healthy eating and suitable dietary supplements... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Vitamin and Supplement Stores industry operates under a low level of market share concentration. The top four players of the industry accounts for less than 40% of market share, with the two biggest players operating under a franchise business model. As a result, no individual enterprise commands any significant share of the industry. IBISWorld anticipates that this is due to the industry being highly fragmented, with a range of different vitamin and supplement stores of all sizes and specialisations. Healthy Life has the highest number of franchised stores in the market, which together are estimated to account for 15.1% of the market... purchase to read more