NPI Coordinates Product Launches for Domestic and International Health, Wellness & Beauty Brands
Mitch Gould, a third-generation retail professional, took the “traveling salesman” approach to a whole new level.
Instead of going door-to-door, Gould went from national headquarters to national headquarters, one of which was like visiting a small city.
“When I traveled to Illinois to visit the home base for KMart during the retailer’s heyday, I was astonished when I saw it,” said Gould, founder and CEO of Nutritional Products International, a global brand management firm based in Boca Raton, FL. “It was a small city with buildings and the like.”
Gould said he knows the retailer has struggled tremendously in recent years.
“At its height in 1994, KMart operated almost 2,500 stores,” Gould said, adding that now the retailer has only 21 stores left in 11 states and territories and 20 cities. “The story of KMart shows that retailers must adapt and innovate to stay viable.”
Gould said the COVID-19 pandemic forced businesses to change their working model to reach shuttered consumers.
“We saw the rise of home delivery, curbside pickup, and the dramatic increase of consumers shopping online,” Gould said. “E-commerce had been trending upward for years but people started buying items online that they had always bought in person during the health crisis.”
Gould said consumer shopping habits changed during the past 30 months.
“Brand loyalty has decreased during COVID-19,” Gould said. “Fifty-nine person of consumers bought new brands during the pandemic.
“Despite online sales increasing, nearly half of consumers still prefer the in-store shopping experience,” Gould added. “What does this mean? To stay competitive, retailers have to create exciting and viable multichannel shopping experiences.”
Gould and his NPI team advise health, wellness, and beauty brands on how to launch products with retailers and how to reach consumers.
“I streamlined the product launch process when I developed the “Evolution of Distribution” platform, which brings together all the moving parts of introducing products to consumers and retailers.”
NPI offers all the professional services brands need to launch their latest products, such as sales, marketing, operations, and federal compliance.
“Just like retailers, brands have to understand consumers’ preferences to stay relevant,” Gould said.
For more information, visit nutricompany.com.