The Future of sellers in the Supplement space

by Matt Weik

Let’s think for a minute of our purchasing habits. how numerous of you actually go to a store these days to make your purchases? Now, how numerous of you do the majority of your purchasing online? You might be thinking that there are certain items that you only purchase online while others that you only choose to purchase in an actual store. There are numerous elements that come into play with our shopping practices and behaviors. Regardless, will supplement sellers ever be completely pushed to the side by the big bad internet?

Buying Behaviors
According to statistics, 96% of Americans shop online while 65% of them also shop in actual stores. What causes them to skip purchasing everything online? For starters, not everyone provides totally free shipping which can typically raise the cost to a point where it’s much more cost effective to run to the store to pick it up instead (especially if you’re going to be driving best past the store location). Some people simply can’t wait for the delivery and choose to have the item immediately.

When it concerns supplements, some consumers still choose to “touch and feel” the product before making a decision. They like the ability to hold the product, look at the label, check the ingredients, and ask the clerk questions concerning the product. another reason people won’t purchase online is due to privacy concerns. While the Internet is getting better all the time at protecting your privacy and payment information, there are still occurrences where information becomes compromised.

If an item is easily available at a store where a consumer shops frequently (the grocery store for instance), their purchasing practices also shift towards retail simply out of convenience. They’re at the store, they know they need to purchase a supplement (such as protein powder or protein bars), and they put it in their shopping cart. No shipping costs, no waiting for delivery, no hassle with returns if the product arrives damaged or is defective.

With all of this said, numerous consumers who purchase initially in retail will in some cases eventually migrate to e-commerce if the difference in price is significant. While there are faithful consumers, numerous become much more faithful to their bank account and shop wherever will give them the best savings.

Generational Differences
Different generations also have different shopping behaviors. 28% of seniors shop online. 41% of baby Boomers shop online. 56% of Generation X shop online. 67% of Millennials shop online.

This, in my opinion, is a technological difference between groups. The younger generations are much more familiar with technology and the internet, whereas the older generations to this day still might not own a smartphone, tablet, or computer. This is also represented in how numerous hours each generation spends online each week. Millennials and Generation X spend the most time online at six hours each week (which personally I think is low), baby Boomers spend four hours a week online. and seniors spend on average two and a half hours online each week.

People typically joke that Millennials are lazy and inactive and based on the following statistic, it might be hard to argue their point. 43% of consumers make online purchases while in bed. 67% of those who make purchases online in bed are Millennials.

Why purchase Online?
Online shopping has numerous perks. For starters, the price of an item is typically less expensive than what you would find in a retailer—this is actually the most essential takeaway as 87% of the people surveyed indicated price as a driving factor. There are much more times than not, discount coupon codes for online stores that can be used to give even better discounts when compared to in-store shopping. shipping is typically fast (unless you were in dire need and wanted something the same day) as places like Amazon has their Prime membership that allows for 2-day shipping or even next day if you wished to pay extra.

Another essential benefit of online shopping is the variety of options. sellers aren’t able to carry everything under the sun due to their limited shelf space. online sellers typically carry a much larger selection of products. They also offer loyalty and rewards programs where the much more you purchase, the much more you can save or get back in credit report or freebies.

Will E-commerce ever Knock Off Retailers?
In my opinion, there will always be room for retailers. While benefit and price are driving elements for online shopping, numerous people still like to go to their mother and pop supplement stores and make their purchases. It’s about loyalty. and there are still faithful people in this world who appreciate brick and mortar. numerous of these sellers have learned to adjust their prices if they want to compete with e-commerce and remain in business. You either develop and adapt with the times or you die.

Many sellers are also now getting into the social media game. They are talking with their patrons online. They are promoting in-store sales through social media. They are “going live” on Facebook and Instagram. and they are getting in front of buyers who might have never stepped foot in their location. This is a terrific play for them and one that I feel will help save them in the long run and offer a totally free marketing platform.

Don’t give up on your local specialty supplement stores. support your local small businesses.