NPI Works With Health and Wellness Product Manufacturers as U.S. Economy Rebounds
The Gross Domestic Product, or GDP, jumped 6.5 percent in the second quarter as the world watches the U.S. economy rebound from COVID-19.
“The GDP shows the economy is growing and that consumer and public spending is driving the increase,” said Mitch Gould, founder and CEO of Nutritional Products International, a global brand management firm based in Boca Raton, Fl. “Although economists were expecting a higher growth rate, the still strong 6.5 percent spike eased fears about inflation.”
Gould said personal consumption expenditures, or PCE, grew faster in June, but the core PCE, which strips out volatile food and energy prices, decreased.
“These economic indicators are welcome news to the CEOs of health and wellness manufacturers I talk to every day,” Gould said, adding that product manufacturers realize they have to adapt to the “new normal” and move forward with business plans.
Gould, a third-generation retail professional, keeps abreast of economic and retail trends because NPI develops U.S. product launch campaigns for international and domestic health and wellness brands.
“If we did not keep tabs on the American economy and the retail industry, we couldn’t help our clients plan successful product launches,” he said.
To provide structure to product rollouts, Gould developed this proprietary “Evolution of Distribution” platform that emphasizes cost-efficiency and speed to market.
NPI provides these health and wellness brands with a professional sales team, support staff, office space, marketing professionals, insurance, regulatory compliance expertise, and all other ancillary services a company needs to launch products in the U.S.
“We offer all the professional and logistical services a product manufacturer needs to launch their products successfully — sales, marketing, operations, and regulatory,” Gould said.
NPI has increased its focus on e-commerce because of the pandemic.
“COVID-19 probably packed six years of online sales growth into the past 18 months, which is why NPI increased its emphasis on e-commerce,” Gould said.
Early on in the e-commerce history timeline, Gould realized the future of retail was online.
“Back in the early 2000s, I used my retail contacts to place more than 100 brands onto Amazon’s virtual shelves of its new health and wellness category,” he added.
Gould worked with Jeff Fernandez, a retail buyer on the Amazon team tasked with creating the brand-new health and wellness category, which today probably generates hundreds of million dollars, if not billions.
“I enjoyed working with Jeff, whose retail background includes working for Walmart as a buyer, which is why I hired him several years ago,” Gould said. “Today, Jeff is president of NPI.”
For more information, visit nutricompany.com.
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 the distribution of their products in the U.S. retail market.
Mitch Gould, the founder of NPI, is a third-generation retail distribution and manufacturing professional. Gould, known as a global marketing guru, has represented icons from the sports and entertainment worlds such as Steven Seagal, Hulk Hogan, Ronnie Coleman, Roberto Clemente Jr., Chuck Liddell, Wayne Gretzky.