ABOUT THIS NICHE
The needs of the aging population, trends toward increased healthy living and improving per capita disposable income are all contributing to the industry’s growth. In particular, changing attitudes toward personal healthcare are driving demand for natural and anti-aging products.
About 36 million US consumers shopped online for health and beauty products in the spring of 2014, up from 20 million consumers in spring 2010.
REASONS TO ENTER THIS NICHE MARKET
- Online health and personal care sales volume is expected to grow at a much faster rate than traditional drug stores sales, with annual growth rate of 13% between 2015 and 2020.
- Subscription shopping models can help mitigate retailers’ costs and provide an added layer of convenience to customers, and these services are helping the health and personal care category grow. 38% of US consumers who regularly purchase health and beauty products online say they’re signed up for a subscription service.
