To rise above the difficulties stemming from a recent period of weak dietary supplement sales, Vitamin Shoppe is setting its sights on functional foods and personal care products.
“As expected, Q2 sales continued to be impacted by ongoing industry softness,” said Vitamin Shoppe CEO Colin Watts in a call with analysts. “As a result, total comps were down 1.1 per cent in the quarter. The actions we undertook to improve overall profitability did not entirely mitigate the slower revenue trends.”
Vitamin Shoppe’s new plan to revamp its marketing strategy includes a stronger focus on its online marketing model and higher margin as well as to bring in more in-demand products like personal care and on-the-go foods.
According to Watts, “This past June, we commissioned a team of internal leaders here at the Vitamin Shoppe to collaborate with one of the most respected retail reinvention firms in the industry to begin what will be about a year-long project to research, test, design, and develop a bold new direction for the Vitamin Shoppe to return our business to strong future growth to truly get us back to where we once belonged.”
