How does Canada’s natural health retailers handle business transparency? The industry conversation over this hot topic has changed on both sides of the border with the help of regulatory decisions such as the New York Attorney General’s probe into herbal supplements. Experts say that industry players engaging in shady practices have to cease because they jeopardize other industry members. Canada’s natural health retailers compare how transparency impacts and compares to the Canadian market.
The industry conversation over transparency has changed with the help of the New York Attorney General’s probe into herbal supplements. Experts say that industry players engaging in shady practices have to cease because they jeopardize other industry members. So, with these thoughts in mind, what does Canada’s natural health retailers say about transparency?
“[Besides the New York Attorney’s probe] I believe the standard needs to be raised by Canadian authorities as well,” says Sherwin Shao, owner of a number of Nutrition House locations in Ontario. “I know many instances where labelling was forced to be changed, but only after the consumer has been buying under false pretences for years. I believe penalties must be higher to prevent abuses.”
Daniel Lupu, owner of the Yonge/Bloor Nutrition House location in Toronto adds: “Transparency is great for the natural health care industry. It forces all companies to play by the same rules–at least here in Canada.”
Lupu says all natural health products require an official NPN number with clearly indicated ingredients and their specific concentrations. “In the U.S., the consumer doesn’t really have a clear indication of what and how much of a specific ingredient is truly in that product.”
The Yonge/Bloore owner concludes: “In life, honesty is always the best policy. If a company is not willing to be transparent, then the question becomes ‘what are they trying to hide?’”
