If you're a business owner, you know that staying on top of the latest trends is crucial to your success. And if there's one trend that shows no signs of slowing down, it's the Nutraceuticals market. But what is Nutraceuticals fulfillment? Keep reading to find out!
What are Nutraceutical Products?
Nutraceutical is a broad term that refers to products with added health or nutritional advantages. Vitamins, supplements, anti-aging treatments, energy bars, and other products are typically sourced from dietary sources. As a result, nutraceutical items account for a sizable portion of the online industry, particularly in the health, beauty, and wellness categories.
Nutritionally functional foods known as "nutraceuticals" have exploded in consumer markets, ranging from dietary supplements to medical or designer foods. The popularity of healthy living is expected to propel this quickly rising industry to a net worth of $722.49 billion by 2027. To meet consumer demand, the necessity to supply nutraceutical products through third-party warehouses (3PLs) is rapidly increasing, as it is in most growing businesses.
What Is Nutraceuticals Fulfillment?
The process of storing, choosing, packing, and delivering nutraceutical products to your customers' doorstep is called nutraceutical supplement fulfillment. The nutraceuticals business is currently booming; sales of vitamin delivery services and supplements are expected to climb by 40% by 2020. Enterprises require a solid nutraceutical eCommerce fulfillment plan to keep up with these high-demand products.
3PLs must be able to optimize their warehousing and workflows to match extremely particular needs to take advantage of this rising industry. Nutraceutical suppliers in warehouses, for example, must provide value-added services like kitting and assembly, cold storage for temperature-sensitive goods, and custom product labeling and packaging to their customers. To function correctly, all of these services require warehouse inventory management software. In other situations, warehouses may already offer these services to customers interested in learning more about or increasing their nutraceutical sales. If your warehouse wants to tap into this lucrative market, how to build up an efficient nutraceutical delivery operation that boosts income and keeps you ahead of the curve.
Criteria For Successful Nutraceutical Fulfilment Warehouses
FDA rules and nutraceutical providers impose specific standards on nutraceutical fulfillment warehouses. The easiest method for 3PL warehouses to comply with these rules is to adopt inventory management software designed explicitly for nutraceutical warehouses. Warehouse managers should choose a warehouse management system (WMS) that fits these requirements to follow the best criteria:
Real-time Inventory Traceability
Assembly & Kitting Capabilities
Flexible Shopping Cart Connectivity
Streamlined Pick & Pack
Challenges Of Nutraceutical Fulfillment
When selling nutraceuticals, you must adhere to specific regulatory and legal criteria, but you must also consider some direct-to-consumer fulfillment problems.
With hundreds of orders to fulfill each month, human error is always possible, resulting in orders being shipped incorrectly.
Occasionally, an order will be sent to the incorrect address. As a result, there are more customer service concerns and higher returns and exchanges.
Meeting Customer Expectations
Consumers have grown to expect 2-day shipment these days. If your company takes too long to send items, customers will look for alternative brands or marketplaces, such as Amazon, where they can get a faster delivery time at a lower price.
Challenges Of Shipping Nutraceutical Products
To avoid damage while in transportation, shipping nutraceuticals need to carefully pack the correct items. This also entails optimizing the package for dimensional weight to avoid paying too much for a vehicle.
If your products are low-cost, consider product bundling, or give a minimum spend requirement in exchange for free delivery to improve your average order value (AOV) and assist offset your costs.
If you're a business owner looking to get into the Nutraceuticals market, or if you're just curious about what Nutraceuticals fulfillment involves, you've come to the right place. Here at Conveyr, we offer comprehensive warehouse management solutions for businesses of all sizes and industries. We know that in order to stay ahead of the competition, you need to be able to move quickly and efficiently, and our team is here to help make that happen. Ready to take your business to the next level? Contact us today!