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As more pharmaceutical options become available to the health and wellness customer, the landscape of the health and wellness industry will begin to change.
Pharmaceutical options have had a major impact on the share of wallet for wellness brands. In particular the weight management category where sales have been shrinking despite weight management being the #1 need state for Americans. Americans in this category have turned to diets, functional foods and GLP-1 drugs. Vitamin Shoppe and GNC have responded by dedicating sections in their store to GLP-1 side effects to try and capture the growing number of consumers using the drug. They have also both developed telehealth programs and access to prescriptions for customers.
But it's not just the GLP-1 drugs that will impact consumer wallets in the future, wellness, anti-aging, beauty and hormone therapy clinics are also on the rise and are able to prescribe pharmaceutical options for customers to improve their health and wellbeing as well. While it's not feasible for retailers to respond with their own wellness clinics, strategic partnerships with local clinics like POS advertising and loyalty programs can help both parties benefit vs forcing an either/or decision from customers. More clinics are white labeling supplements and retailers are launching telehealth programs.
According to Civic Science.com
- Vitamin Shoppe customers 6% more likely than GNC customers to use Ozempic
- 42% of Vitamin Shoppe customers are likely to use Ozempic vs 36% of GNC customers
- Over 83% of Vitamin Shoppe and GNC customers are likely to use Telehealth vs the 69% national average
GNC’s telehealth plan according to MobiHealth news
Pennsylvania-based vitamin and supplement retailer GNC has expanded its healthcare division, GNC Health, to offer virtual care services through three membership plans.
The GNC Health Basic plan at $34.99/month provides unlimited access to virtual urgent and lifestyle care, along with over 100 prescription medications with free shipping.
The GNC Health Plus plan, priced at $9.99/month for individuals and $29.99/month for families, adds virtual primary care and over 400 prescriptions at no cost.
The Premier plan, costing $39.99/month for individuals and $59.99/month for families, includes mental health and physical therapy services on top of Basic and Plus plan offerings.
These plans also offer up to 80% discounts on other medications at pharmacies nationwide. They are designed to complement existing medical insurance but can be purchased independently. Allison Bentley, senior director of strategic programs at GNC Health, sees this expansion as broadening access to health and wellness solutions.
This move by GNC aligns with a larger trend of retail giants entering the healthcare space, as seen with Walmart's partnerships for telehealth and diagnostic services, CVS Health's acquisitions in home health, and Walgreens-backed VillageMD's expansion into medical practices.
The response to Ozempic by Vitamin Shoppe according to the NY Times
Retailers specializing in nutritional supplements, like GNC and the Vitamin Shoppe, are adapting to the rise of diabetes and weight-loss drugs such as Ozempic and Wegovy. GNC is dedicating a section of its stores to products aimed at consumers on these medications, providing assistance in managing common side effects. The company aims to tap into the growing market of individuals using these drugs, as indicated by a study estimating up to 70 million Americans trying them by 2028. The Vitamin Shoppe is collaborating with a telehealth company to offer prescription fulfillment for these drugs, aiming to meet customer demand. However, medical experts caution against relying solely on supplements, emphasizing the importance of a balanced diet. While retailers are seeking to address consumer needs in this emerging market, concerns remain about the ability of retail workers to provide comprehensive medical advice. Despite these concerns, both retailers and supplement makers are capitalizing on the opportunity presented by the growing popularity of these drugs.
