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    Columns

    Business Insights: The Economy’s Impact on Supplement Use

    While the economic downturn has created a financial crisis for most of the population, it may also be contributing to an increase in public health issues.

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    Gregory Stephens01.06.10
    It is no surprise that the current economic environment has changed consumer behavior on every level. Consumption is being replaced by sustainability, possessions by purpose, and perceived value by real value. Indicators show the impact of these changes will not be temporary adjustments, but a total realignment of consumer behavior based on a reevaluation of priorities. Tighter financial budgets are one main driver of this re-prioritization.

    As consumers face new financial restraints, their health is being adversely affected. According to recent consumer-insight data, consumers are reporting less healthy food purchases (31%), more weight gain (22%) and decreased use of dietary supplements (16%). Will the economic crisis, in turn, create a health crisis? What, then, are the implications for the supplement industry as dissonance grows for consumers wanting to maintain health through supplementation, and conversely, wanting to cut costs overall, including the cost of supplements?

    Natural Marketing Institute provides some insights into the implications of the economic climate on the supplement industry and how to address the emerging financial concerns of the supplement user.

    Economic Impact on Supplement Usage

    While the recent economic downturn is creating a financial crisis for most of the population, it may also be contributing to an increase in public health issues. In fact, those who indicate they have been significantly affected by the latest economic downturn are more likely to rate their health as fair to poor (39%), compared to those less affected (28%). In addition, consumers are reporting increased amounts of stress, sleeplessness and fatigue specifically caused by the economic situation.

    In addition, those consumers who report being affected by the downturn economically are exhibiting higher levels of joint problems (26%), digestive problems (26%) and depression (23%), revealing the pervasiveness of economic woes on the health of consumers.

    Even more concerning, consumers who are significantly affected by the negative economy are more likely to have cut down on doctors visits (42% vs. 18% of those less affected) and have stopped filling certain prescriptions because of the cost (30% vs. 12%). With healthcare costs rising, including the costs of doctor visits and prescription medications, many consumers turn to supplementation to help manage their health. However, the current economy is even having implications on supplement usage. While almost half of consumers (48%) feel using dietary supplements is extremely/very important to maintaining their health, and three quarters (76%) believe using dietary supplements is a primary way to promote healthy aging, many consumers are decreasing their supplement usage due to the economic downturn—with the lower economic groups showing higher decreases.

    Supplement Usage

    Even though some consumers indicate a decrease in supplement usage, the supplement industry does not report a significant decline in supplement sales. This lack of a decline may be explained by a number of factors.

    While the Light Supplement User (using less than 4 supplements/day) is significantly more likely than the Heavy User (4 or more) to indicate they have stopped using dietary supplements (22% vs. 10%, respectively) or purchase less expensive supplements (7% vs. 4%) due to the economic downturn, the Heavy User is more likely to indicate their supplement purchases have remained the same.
     
    Conversely, New Supplement Users, those consumers who have only used supplements for a year or less, are more likely to indicate they have increased their usage of single vitamins and multivitamins in the past year, compared to Longtime Users (1 year or more).  Therefore, while Light Users may be using fewer supplements, and Heavy User’s usage has remained the same, there is a new group of consumers who have just started using supplements who have increased their usage among certain supplement categories.  These New Users are likely those consumers looking to boost their health in order to keep healthcare costs down, and are turning to supplementation as a solution.

    Compared to the Longtime User, the New User is more likely to be less affluent (significantly more likely to have a household income less than $50K) and younger. While the majority of supplement users initiated usage to improve overall health, consumers making less than $50K a year are more likely to have started using supplements to increase energy, treat health issues, improve mental abilities and due to a doctor’s recommendation—all strong marketing messages to retain this new supplement user. In addition, New Users report feeling significantly more deficient in calcium, fiber, antioxidants and vitamin D, highlighting possible combination formulas or specific product messaging targeted at the New User.
     
    Perceived and Real Value

    In our current economic climate, consumers are seeking  “real value” over perceived value. In other words, where perceived value simply tries to get consumers to consume, real value provides measurable, long-term outcomes. While quality and clinical studies have been enough to prove effectiveness in the past, the current supplement consumer—in an effort to stretch every dollar—is setting the bar even higher by requiring tangible proof. Additionally, consumers show an 11% drop in their willingness to purchase the highest quality supplements. While clinical proof and quality are necessary claims, consumers are increasingly demanding these claims be made “real” to them. In turn, the value of supplement brands and claims are being weighed more heavily as cost becomes more of a factor.

    Physician and pharmacist recommendations are strong drivers of supplement purchases and provide a level of authority to supplement claims, especially to the new and light supplement user. In fact, compared to Heavy Users, Light Users are more likely to trust their doctor (70% Light User vs. 60% Heavy User) and even their pharmacist (54% vs. 48%) for advice on vitamins and herbal supplements.
     
    As consumers increasingly demand more bang for their buck, testimonials, visual proof, physician and pharmacist recommendations and, where applicable, benefits the consumer can actually experience will increase the value of supplement brands. Further, targeting the growing conditions of the economically affected consumer, such as stress, fatigue, inflammation and joint problems, will attract the attention of this consumer who is seeking some relief.

    As consumers reevaluate their priorities, our industry will need to pay close attention to a shifting value set. By providing tangible, realizable value, the industry should be able to maintain a necessary position on consumer’s priority list.                       
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