How to Introduce Premium Vitamins & Supplements to Your Store Mix
To be successful in selling premium vitamins and supplements, you must believe 100 percent in the line(s)/brand(s) of supplements you choose to offer and recommend in your store; otherwise, you will never be able to convince anyone to invest in high-end products. You must have passion to compel your customers to invest in their health with your recommended line of supplements.
Focus on Certain Categories
The most successful vitamin/supplement categories include heart health; bone health; immune support; energy boosters; sleep support; adrenal gland support; alternative remedies for digestive health like probiotics; diabetes management; and relief from stress, gout, allergies, and pain/inflammation. Most importantly, you need to offer a premium multi-vitamin. This item will serve as the anchor vitamin in your supplement offering.
Along with an enhanced level of customer loyalty, premium lines of vitamins and supplements offer a bigger ring at the register and an average profit margin of 45 percent or more. Premium supplement vendors do not offer price stickers and few will offer shelf tags. To lessen sticker shock, price your supplements on the bottom or back of the packaging, not on the front or cap. If you are considering using the manufacturer’s suggested retails, be sure to compare with other retailers first to keep prices competitive. You do not need to be the best price in town, but your product has to be somewhat competitively priced. Round up the retail prices so they all end with a 9. One idea to relieve sticker shock is to break down the package/bottle cost to a daily dosage cost, and then compare the daily dosage cost to the cost of a cup of coffee or candy bar. There are two kinds of vitamins: one that makes your wallet feel good, and one that makes you feel good. The decisions is yours.
In-store signage is key to the success of your premium vitamin department. When merchandising, make sure to leave room for signage as in-store signage is the most valuable and inexpensive segment of your marketing strategy. Roadside signage will also be an important tool in bringing attention to your lines. Consider direct marketing to physician offices, dedicating a significant part of your website to describing the premium lines, writing a blog post, and investing in targeted Facebook advertising. --
Source: Gabe Trahan, NCPA Senior Director of Store Operations and Marketing NCPA Front-End Overhaul