Why Private Label Herbal Supplements?
The herbal supplement market is growing, and now is the time to get involved.
However, not every company that produces private label herbal supplements will be successful.
Below is some information to help you understand the opportunities in this market and build a strong sales strategy.
Herbal supplements are becoming more popular among consumers each year.
In fact, according to a report released by the American Botanical Council, overall sales of Herbal dietary supplements increased by approximately 6.8 percent from 2013 to 2014.
Sales in the mainstream market increased by 2.1 percent, while sales of plant based supplements in natural and health food stores rose by 5.2 percent.
Tips for Building Your Brand
As you prepare to enter the private label Herbal supplements market, follow these tips.
1. Create good quality private label Herbal supplements
Price is an important consideration, but it shouldn't be your only priority.
Consumers in the private label herbal supplements market are looking for products that are better than the mainstream brands.
Make sure that the product you offer has advantages that make it a superior choice for consumers.
Price the product appropriately based on the quality and advantages it provides, and consumers will respond well.
2. Offer a variety of sizes
Some consumers are interested in purchasing a small, trial amount of a specific supplement.
However, once a consumer knows that he or she likes a certain product, the consumer may want to purchase a larger quantity for a lower price.
Offer your consumers a variety of product sizes to meet their needs. Make sure that larger product sizes include a modest discount per serving.
3. Be honest about your production and testing
Consumers value transparency.
Make information about the ingredients in your products, the production process and your testing strategies readily available to consumers.
You should also be open to feedback related to these processes.
4. Be clear about your product's advantages
When consumers shop for an Herbal supplement, they are looking for both quality and price. If you want consumers to choose your brand over the competition, you need to make its advantages clear and easy to understand. Be upfront about the features that make your brand a good choice for consumers.
5. Choose the right manufacturer
A good contract manufacturer will provide you with a variety of resources you can use to improve your brand, including education, marketing consultation and more.
Make sure that you choose a manufacturer that offers all of the support you need.
6. Don't launch without the right packaging
Although the appearance of the packaging doesn't change the quality of the supplement inside, it can still affect sales.
Don't launch any product until you have developed packaging that is both professional and memorable.
Make sure that it includes your brand name, a memorable logo and detailed information about the product itself.
7. Place product information in a prominent location
Your brand name needs to be easily visible, but it shouldn't overtake information about the product.
Consumers shopping for private label nutraceuticals want to know that the product is, what is does and how it benefits them before they decide to make a purchase.
Be sure to include other information on the label as well, such as the form of the supplement and the dosage included in each serving.
8. Price products carefully
The right price point will increase your sales significantly.
If you price your product too low, customers may assume that it must be inferior to other products on the shelf.
If you price it too high, however, they may feel that the benefits your product provides aren't worth the extra expense.
Conduct research to find the right price point for your product.
9. Involve your staff
Your staff should be well informed about your products and ready to share their benefits with others.
Take the time to train staff members so that they will understand the benefits of the products and feel comfortable describing them.
10. Engage in multiple marketing strategies
Promote your products in as many locations as possible.
For example, you may include promotions on your website, on social media platforms and in emails to previous customers.
Consider offering free samples to interested customers in order to increase sales even further.
Now that you are armed with insider knowledge make the leap of faith into the industry of nutracuticals!!