Expected to grow at 20 percent to USD 6.1 billion by 2019-20, the Indian dietary supplement business is picking up speed like a boss.
The conscious nature of people towards their own health and lifestyle has certainly contributed towards the booming of the dietary supplement business in India. The trend has hit India of late, which is now an alien concept in many western countries. But, as they say, it’s better to be late than never.
The Indian health and wellness market is already occupied with different dietary supplement brands that are actually doing great. New entrepreneurs and investors could learn a lot from how the industry is evolving along with different brands that are currently operating in the industry.
Expected to grow at 20 percent to reach USD 6.1 billion by 2019-20, the Indian dietary supplement business is picking up speed like a boss. Meanwhile, the growing trend of staying fit and healthy is further acting beneficially for this segment.
It’s all about Customer Engagement
Businesses belonging to different segments are now more aware of the necessity to get frequent and positive customer engagement results. This eventually builds trust that directly impacts the customer’s purchasing habit.
Thus, if you are planning to take a step towards this segment, it’s suggested to run along with other competition on the same racing track. Along with establishing an offline business, simultaneously plan to target online customers as well through online websites.
The protein supplement market is fuelled in part by younger purchasers. Young people are growing with a vast amount of information available to them online. They are influenced by celebrity looks and physique.
The latest generation has a mindset of a healthier lifestyles and they want to build muscle and aid recovery after a serious workout. Therefore, aspiring dietary supplement business owners could generate handsome revenues by attaining a strong, online presence of their firms, the content of which is consumed mainly by the millennia.
The Value of both Online and Offline Presence
Any dietary supplement business that can successfully manage both online and offline presence mutually are the real winners in today’s time. This feat will not only help these brands in emerging big in the industry but will also enhance customer engagement.
There are customers who are confused while purchasing supplement products online. Such customers require the right assistance from the company that could solve their queries. This is where an offline presence comes into play, assisting and guiding customers physically towards the suitable supplement products.
You could also guide and educate customers with the right dosage of supplement products through your online brand presence. The customer interaction cycle repeats itself until it turns out to be a beneficial element of your supplement business.
Thus, a new dietary supplement business owner should be familiar with different ways for managing products on both online and offline platforms. This will eventually help you in attracting new customers that will contribute to the firm’s sale in a positive manner.
Dietary Supplement Business Insights
Starting a dietary supplement business is among those low-cost investment options that usually attract new entrepreneurs and investors invading the business industry. All you need to have is a brick and motor location along with different supplement products that you want to sell to people. Interestingly, the location can be of both sizes–small and big–depending upon your investment capacity.
Investment: INR 3-8 lakh
License Requirement: Yes
Area Requirement: Not Applicable