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Health Stores

Health Stores

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Executive summary

The Health Stores industry has declined over the five years to 2022. Mounting competition from mass merchandisers and the increasing percentage of services conducted online have cut into brick-and-mortar retailers' sales. Despite overall increased demand for industry products, consumers are taking their business elsewhere and purchasing products at larger discount stores and online. Though the rising demand for dietary supplements and sports nutrition products has propelled industry demand upward, mounting external competition from both mass merchandisers, such as Walmart Inc. and Target Corporation, and online retailers, such as Amazon.com Inc. (Amazon), which benefit from lower operating costs, and thus, are able to offer lower prices to customers has led to revenue fluctuations over the past five years. Still, trends toward healthier living and robust disposable income growth have helped keep the rate of decline mild. Industry revenue is anticipated to decline at an annualized rate of 0.5% to $19.8 billion over the five years to 2022.
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industry profit;

industry margin;

industry employment;

industry major players;

industry key external drivers;

industry product & structure segmentation;

industry key trends;

industry Life Cycle;

industry Geographic Breakdown;

industry Key Success Factors;

industry Key statistics for previous years;

forecast of industry Key statistics for the next 5 years;

Reference Wordlist

BARRIERS TO ENTRY
High barriers to entry mean that new companies struggle to enter an industry, while low barriers mean it is easy for new companies to enter an industry.

CAPITAL INTENSITY
Compares the amount of money spent on capital (plant, machinery and equipment) with that spent on labor.
IBISWorld uses the ratio of depreciation to wages as a proxy for capital intensity. High capital intensity is more than $ 0.333 of capital to $ 1 of labor; medium is $ 0.125 to $ 0.333 of capital to $ 1 of labor; low is less than $ 0.125 of capital for every $ 1 of labor.

CONSTANT PRICES
The dollar figures in the Key Statistics table, including forecasts, are adjusted for inflation using the current year (i.e. year published) as the base year. This removes the impact of changes in the purchasing power of the dollar, leaving only the "real" growth or decline in industry metrics. The inflation adjustments in IBISWorld’s reports are made using the US Bureau of Economic Analysis’ implicit GDP price deflator.

DOMESTIC DEMAND
Spending on industry goods and services within the United States, regardless of their country of origin. It is derived by adding imports to industry revenue, and then subtracting exports.

EMPLOYMENT
The number of permanent, part-time, temporary and seasonal employees, working proprietors, partners, managers and executives within the industry.

Colloquial Terminology

CONVALESCENT
A person recovering from an illness or operation.

DIETARY SUPPLEMENT
A preparation intended to provide missing or insufficient quantities of nutrients in a person's diet.

ORTHOPEDICS
A branch of medicine that deals with the prevention or correction of injuries or disorders of the skeletal system and associated muscles, joints and ligaments.

Details

The adverse effects of the COVID-19 (coronavirus) pandemic disrupted industry growth as well. Although demand for vitamins and health supplements increased as consumers sought to boost immunities amid the pandemic, consumers likely fulfilled demand through e-commerce offerings due to temporary store closures and concerns in regard to in-person shopping. While the industry recovered in 2021, industry revenue is expected to decline an estimated 0.5% in 2022 as pandemic-fueled demand for supplements subsides, mass merchandisers introduce private-label product lines and consumers opt for online purchases.

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