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"Companies have changed their assumptions on the economy because many of the old rules don't apply anymore." - Mitch Gould, founder and CEO of Nutritional Products International
BOCA RATON, FL, December 17, 2021 /24-7PressRelease/ -- COVID-19 has changed the retail industry forever.
The pandemic squeezed years of accelerated online shopping into less than two years. As a result, consumers now buy more products online than ever before, including items they used to purchase only in person.
"Both retailers and product manufacturers have had to adapt to new consumer habits," said Mitch Gould, founder and CEO of Nutritional Products International, a global brand management firm based in Boca Raton, Fl. "These companies have changed their assumptions on the economy because many of the old rules don't apply anymore."
Retailers have adapted by supercharging the online buying experience and offering perks, such as same-day delivery and curbside pick-up.
Gould said CustomerThink.com predicts several trends to watch in 2022, including Livestreaming with "real-time, interactive video streams" that will mirror the experience of shopping at brick and mortar stores. Consumers striving for the personal touch will now get retail therapy online. Other trends include:
- Stores within stores will continue to grow as big-box retailers start co-branding even more within their stores.
- Buy now, pay later will become a retail norm, which is different from layaway plans because consumers will take home their purchases immediately.
Like retailers, Gould said product manufacturers have had to innovate to stay relevant.
"Product manufacturers knew online commerce was important before the pandemic," Gould said. "Now, they know it is even more vital if they want to reach the largest possible target audience.
"Brands have expanded their retail presence, adding outlets and beefing up their online stores," Gould added.
Gould said companies now have to deal with supply-chain obstacles and the ups and downs of consumers' confidence in the economy.
Understanding the future of retail is paramount to Gould and Nutritional Products International.
"We talk regularly with health and wellness brands looking to launch products in the U.S.," Gould said. "They turn to us to give them the best guidance possible, which is why we have veteran retail professionals at NPI with more than 75 years of combined experience."
To make product launches go smoothly, Gould developed the "Evolution of Distribution" platform, which brings together all the services needed to introduce products to American consumers.
"We offer sales, distribution, marketing, logistics, and regulatory compliance expertise to our clients," Gould said. "They don't hire staff or work with multiple companies. We coordinate everything, and we have the expertise needed at NPI.
For more information, visit Nutritional Products International online.
MORE ON NPI AND ITS FOUNDER
NPI is a privately-held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skin-care products. NPI offers a unique, proven approach for product manufacturers worldwide seeking to launch or expand their products' distribution in the U.S. retail market.
Mitch Gould, the founder of NPI, is a third-generation retail distribution and manufacturing professional. Gould developed the "Evolution of Distribution" platform, which provides domestic and international product manufacturers with the sales, marketing, and product distribution expertise required to succeed in the world's largest market -- the United States. In the early 2000s, Gould was part of a "Powerhouse Trifecta" that placed more than 150 products on Amazon's new health and wellness category.
Gould, known as a global marketing guru, also has represented icons from the sports and entertainment worlds such as Steven Seagal, Hulk Hogan, Ronnie Coleman, Roberto Clemente Jr., Chuck Liddell, and Wayne Gretzky.
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