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 Products Chapter
The Vitamin and Supplement Stores industry provides a range of products and services for customers. Products can be broadly categorised into four main areas: health and wellbeing, fitness and weight loss, sports nutrition and health foods. Stores often employ knowledgeable staff, sometimes with qualifications in nutritional science, who provide advice and consultation services to customers to help them purchase the rights products.
Over the past five years, the overall industry has been performing strongly as health consciousness has increased. The ongoing trend towards health and fitness in Australia means consumers are increasingly prioritising discretionary spending on personal health products. However, each product segment's contribution to the industry has changed... purchase to read more