Industry Analysis & Industry Trends
The Vitamin and Supplement Stores industry has toughened up after a lacklustre performance during the global financial crisis. Over this period, consumer expenditure on vitamins and supplements fell, 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 specialist vitamin and supplement stores.
The industry has been further assisted by recovering consumer confidence and growing health consciousness. Employee product knowledge has been a key area 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 Locations Chapter
The location spread of vitamin stores largely follows the distribution of population across Australia. This is because high pedestrian store traffic is one of the most important elements of store performance, with industry operators actively seeking out prime locations for their stores. The majority of stores are therefore located in New South Wales, Queensland and Victoria. Together, these three states are estimated to account for just under 80% of the industry's total establishments. Successful stores will also be located in highly populated cities near a concentration of gyms and fitness centres. Shopping centres are also a popular location. Over the past five years, there has been a trend for Australians to relocate north to warmer states like Queensland... purchase to read more