U.S. Economy Continues to Show Resilience to Covid-19
The U.S. economy is showing its strength.
Despite the Delta variant and short-term price hikes, American consumers continue their willingness to fuel the economy by spending.
“Businesses are better equipped to deal with the spike in COVID-19 cases,” said Mitch Gould, founder and CEO of Nutritional Products International, a global brand management firm based in Boca Raton, Fl. “E-commerce sales and remote work have given the economy the ability to withstand the health crisis. The pandemic not only accelerated the digital transformation in consumer buying but also how businesses operate.”
As the number of COVD-19 cases rises, some economists have remained optimistic.
The chief economist at Moody’s Analytics is expecting continued GDP growth at 6 percent with strong job growth as long as businesses do not shut down, which Anthony Fauci, the top U.S. infectious disease expert, said shouldn’t happen because of the number of vaccinated people in the U.S.
“The economy continues to rebound,” Gould said. “Businesses have learned to adapt because of the economy’s digital transformation. Work-at-home is almost the new normal for many companies. Retailers have doubled down on e-commerce. All of these changes have led to a 20 percent increase in total internet usage.”
Gould said that before the internet, the pandemic would have had a catastrophic impact on society.
“We are fortunate that COVID-19 didn’t happen 30 years ago,” he added. “Because of the internet, online retail sales increased by 39 percent in the first quarter of 2021.
The strength and toughness of the American economy is welcome news to the health and wellness companies that Gould talks to daily.
“We work primarily with domestic and international health and wellness brands that want to launch products in the U.S.,” Gould said. “They see how the economy has bounced back which makes it easier for them to proceed with new products.”
Gould said health and wellness sales remained strong during the pandemic because people were looking for products to help them stay healthy.
McKinsey.com recently reported that the global wellness market should expect 5-10 percent annual growth.
NPI’s experience in e-commerce and marketing health and wellness brands is its competitive advantage.
Gould was part of a ‘Powerhouse Trifecta’ that placed more than 100 brands onto the virtual shelves on Amazon’s new health and wellness category during the early 2000s. The “Powerhouse Trifecta” included Gould, Jeff Fernandez, a buyer on the Amazon team stocking the new category with products, who is now NPI’s president, and Kenneth E. Collins, who was VP of operations for Muscle Foods, one of the largest sports nutrition distributors in the world.
“Ken and I had contacts that enabled us to place more than 100 brands and even more products on Amazon’s new health and wellness platform,” Gould said. “Today, NPI continues to place of health and wellness brands on Amazon, and other e-commerce sites, such as Walmart.com and Target.com.”
When working with NPI, product manufacturers take advantage of Gould’s “Evolution of Distribution” platform, which streamlines the process to sell products in the U.S. Instead of hiring new staff or signing with an expensive marketing agency, NPI offers all the needed services in a simple, one-stop, turnkey approach.
“NPI becomes their U.S. headquarters,” Gould said. “We have the staff to import, distribute, and promote brands to retailers, both online and brick-and-mortar.”
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 skincare 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, founder and CEO 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. 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.