How Private Label Supplements Can Increase Revenue Fast

North Americans bought 50 billion dollars worth of supplements in 2020. Globally, that number triples.^[1]

If you’re not selling Private Label Supplements, you’re missing out on a lucrative revenue stream–one that’s projected to grow by 5% annually. Luckily, you don’t have to be a doctor or healthcare provider to offer your own brand of supplements—anyone with an entrepreneurial spirit and business-minded approach can capitalize on this great opportunity to increase revenue fast.

WHO CAN SELL PRIVATE LABEL SUPPLEMENTS?

To start selling Private Label Supplements,  you’ll want to partner with a reputable supplier who can help you every step of the way. From developing your custom formulations to designing regulation-compliant labels and marketing materials, your supplier can make it fun and easy to sell Private Label Supplements.

Back in 2012, an eye-opening analysis by the National Center for Complementary and Integrative Health, in partnership with the Centers for Disease Control and Prevention, revealed that Americans spent over 30 billion dollars annually on “complementary health approaches,” including dietary supplements.

The dietary supplement industry has continued to boom; in 2020, North Americans spent over 50 billion dollars on them. While the market is becoming more competitive, it is also expected to grow by an additional 5% annually, making now a great time to launch your own line of Private Label Supplements.  

Certain business models are primed to take advantage of this lucrative revenue stream—but wellness organizations and medical offices aren’t the only places that should be selling Private Label Supplements. Other contexts that are naturally suited to offer Private Label Supplements include:

• Fitness Apps. With a huge, established client base openly sharing their wellness and fitness goals, these companies have all the data they need to market targeted supplements. Are your customers weight-focused? Offer supplements like Scale Down.* Are they meditation minded? Advertise Stress B.*
• Products and Services for Parents.  Parents are committed to doing their best to raise healthy, happy children, and to stay sane in the process. Offer moms and dads high-quality 5-HTP, DMG, and B-complex supplements, and unique formulations like Behavior Balance. They’re likely to purchase immune-building blends and multivitamins for the kids, too.*
• Dating Apps. With an eager, active user base of Gen Z and Millennials who are willing to spend money on preventative wellness and complementary health approaches, dating app companies should be offering targeted supplements. Blends supporting libido and sexual hormone health would be perfect to market in this context.

No matter which business you’re in, you will need to invest some time and energy into the market. Who is your ideal customer? What are their needs and wants? Which supplements will help them the most?

Additionally, to offer Private Label Supplements, you must ensure that your products meet all applicable regulatory guidelines. An experienced supplier can help guide you through any necessary licensing, certification, or marketing questions to make sure the labels and marketing materials are all compliant.

For a recap on everything Private Label Supplements entail, check out our Definitive Guide on Private Labeling Supplements.

How to Increase Revenue with Private Label Supplements

Any business with an existing customer base interested in wellness or fitness should have no trouble increasing revenue with Private Label Supplements. Don’t miss out on the opportunity to meet your clients’ specific needs while increasing profits for your business.

For example, here’s how a fitness app could increase revenue, build customer loyalty, and experience the benefits of greater brand recognition by offering a line of Private Label Supplements.

• Determine your customers’ specific needs. What problem or goal do your customers have? Are they looking to achieve a healthy weight, build muscle mass, or support cardiovascular function? Study your data to select or develop the perfect formulations to address these needs.
• Integrate supplement recommendations into the app. Make targeted advertisements appear at certain intervals or build supplement protocols into your fitness routines.
• Incentivize customers to purchase your supplements. Do your research. Is your price point comparable with competitors’? Offer first-time purchase deals and monthly discounts for loyal customers to funnel initial orders into passive income from subscription-based plans.
• Target your ads. Use data-driven insights to direct your advertisements to the customers who are most likely interested and willing to buy. Create campaigns by interests or other demographics and channel the bulk of your ad spending into those ads that perform the best over time.
• Build a supplement marketplace. Add space within the app to educate customers on wellness and fitness products, including your Private Label Supplements, allowing them to purchase right through the app.
• Partner with a trusted manufacturer. None of these strategies will be effective enough to prop up a terrible product. A reputable supplier should ensure that your ingredients are both safe and effective, marketed compliantly, and priced appropriately for your industry.

A high-quality product is easy to sell to customers who need it. With some creativity, you can think outside the box to come up with eye-catching ads and labels that will move your product. Using social media to educate your consumers and build brand recognition is an excellent, and often free, strategy to increase revenue with Private Label Supplements.

Related Content: ARE PRIVATE LABEL SUPPLEMENTS PROFITABLE?

Takeaway: Minimal Risk and Maximum Value

With a manufacturing supplier like DaVinci, you can get all the help you need to start selling Private Label Supplements without an intimidating monetary investment. With small minimum order sizes and help designing compliant and creative labels, you’re set up to maximize profits with little risk to your wallet.

The global supplement industry surpassed 151 billion dollars in 2021. Don’t miss out on your chance to capitalize on this lucrative opportunity. Connect with a qualified Private Label Supplement provider to learn more about how your business can benefit from a Private Label Supplement line now.