Economy Continues to Rebound from COVID-19
Businesses got another positive sign that the U.S. economy, even in the midst of the Delta variant, is moving forward.
Americans applying for unemployment benefits fell last week to 310,000, a pandemic low.
“The decreasing number of people seeking unemployment benefits is another solid sign the economy continues to rebound even as the Delta variant crisscrosses the country,” said Mitch Gould, founder, and CEO of Nutritional Products International, a global brand management firm based in Boca Raton, Fl. “The job market has improved considerably when you remember that 900,000 people sought unemployment benefits weekly at the beginning of the year.”
Still, the Delta variant has negatively impacted some industries much more than others.
“News of the Delta variant has affected dining out at restaurants, travel, and tourism,” Gould said. “Retailers selling consumer goods, however, are optimistic about the upcoming holiday season.”
Gould pointed out that Amazon and Walmart recently announced they would add 75,000 permanent employees, and Best Buy said it would be fully stocked with inventory ahead of the holiday buying season.
“We keep taking a step or two forward followed by a half-step back, but the overall news continues to be positive for retailers,” Gould said, adding that the personal saving rate during the pandemic averaged almost 19 percent, the highest it had been since World War II.
“Consumers have a lot of pent-up demand and they have the money to spend,” Gould added.
Gould’s company, NPI, manages product launches for health and wellness brands, many of them from overseas.
“Despite the pandemic, the businesses I talk to daily realize they still need to put plans in motion,” Gould said. “They want to take advantage of the robust U.S. economy that is down the road.”
To remove unnecessary obstacles and expenses that could prove damaging to product launches, Gould developed a one-stop, turnkey operation called the “Evolution of Distribution” that emphasizes speed to market and affordability when introducing health and wellness products to American consumers.
“We import, distribute, and promote their products to consumers and retailers,” he added. “We provide expertise in sales, logistics, and marketing to our clients.”
NPI also has increased its efforts with online retailers because the pandemic shifted consumer shopping habits from in-person purchases to digital sales.
“We’ve always been advocating a robust online e-commerce presence but the coronavirus increased the importance of online sales exponentially,” Gould said, adding that he first realized the importance of e-commerce when he placed more than 100 brands on Amazon’s new health and wellness category back in the early 2000s.
“I was part of a ‘Powerhouse Trifecta’ that worked together to place major health and wellness brands on Amazon’s new virtual shelves,” Gould said. “I worked with Jeff Fernandez, who was on the Amazon team tasked with stocking the new category, and Kenneth E.Collins, who was a top salesperson for Muscle Foods.
“Ken and I had the contacts in the industry to supply Jeff with the high-quality brands Amazon needed for its new category,” Gould said.
The “Powerhouse Trifecta” worked out so well that today Fernandez is NPI’s president and Collins serves as executive vice president.
“We make a great team, which helps our clients because we have more than 50 years of retail knowledge and experience,” Gould added.
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, 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.