These are unprecedented times. 2020 has witnessed dramatic changes in how we live, and nowhere is the impact of the “new normal” better reflected than in the ways people are engaging with their health and wellness.
The growing demand for premium immune supplements is a sure indication of how consumers are taking a more active role in managing their health.
Industry analyst NBJ estimates the growth of online supplement sales has doubled since 2019 — growing 60% over the past 6 months alone — and they predict that by 2023, online sales of supplements will increase to comprise 20% of the health and wellness market. These numbers are striking.
It’s not just the demand for supplements that is changing during these times, but how consumers want their supplements has also shifted dramatically. Tracking market trends more broadly, consumers are putting a premium on convenience — they expect home delivery and are attracted to subscription-based models.
Due to COVID-19 and the resulting mandated lockdowns, traditional shopping is not simply impractical but also potentially hazardous. This continuing shift to online subscription-based sales is borne not only from a desire for convenience but from a concern for personal health and safety.
As a result, businesses are now looking for turn-key solutions designed specifically to meet these changing market dynamics. For example, the company I founded, OK Capsule, offers a high-margin subscription service that drop-ships premium supplements directly to consumers. And due to the dramatic markets shifts outlined above, our company's ability to provide clients with enterprise-grade tools for starting and scaling a personalized supplement line has enabled them to realize over 200% growth in sales and up to a 50% increase in customer LTV from subscriptions in 2020. While I'm thrilled with the growth of OK Capsule, I think it illustrations perfectly the tectonic shifts that are taking place across the industry.