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 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 competing to secure prime locations for their stores. As a result, the majority of stores are located in most populous states, 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 due to high pedestrian traffic... purchase to read more