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The U.S. grocery market is poised for steady growth in the upcoming years, according to a new forecast from dunnhumby’s Eric Karlson, Strategy, Insights, and Client Lead. The report signals a return to pre-pandemic trends with a projected sales increase of 2% in 2024 and 3.3% in 2025, driven largely by food inflation and modest increases in unit sales.

According to Karlson, the model being used to forecast sales has shifted from a non-linear approach that heavily focused on the COVID-19 pandemic years to a more linear model that aligns with long-term pre-COVID trends. “We are now moving away from the non-linear growth of recent years, returning to more stable, long-term growth patterns,” Karlson explained. This updated model anticipates a 1.9% rise in food inflation and a 0.1% increase in unit sales for 2024, with 2025 seeing a 2.4% rise in food inflation and a 0.9% boost in units.

“For companies like NPI, which specialize in bringing innovative, health-focused products to the U.S. market, these trends offer a clearer path forward,” said Mitch Gould, CEO and Founder of Nutritional Products International (NPI). “Consumers are continuing to focus on health and wellness, and with stable economic indicators, we expect to see strong demand for dietary supplements, functional foods, and other wellness products.”

The long-term trend noted in the report reflects a steady growth path from 2000-2019, where grocery sales grew at a compound annual growth rate (CAGR) of 2.89%. Despite economic disruptions, such as the dot-com bust in the early 2000s and the Great Recession, grocery sales adhered closely to this trendline, with a correlation coefficient (Rsq) of 0.996.

The forecast, which reflects a return to pre-pandemic dynamics, gives grocery retailers and suppliers a more stable foundation to plan for the future. For Gould and NPI, this means staying focused on health-conscious consumers and expanding their presence in the ever-growing wellness market.

“NPI is prepared for this next phase of growth, and we’re excited to continue helping brands enter and thrive in the U.S. retail market,” Gould adds. “As inflation stabilizes and the market returns to a more predictable pattern, companies that innovate and align with consumer health trends will have a significant advantage.”

The grocery sector’s resilience through both global disruptions and economic challenges highlights the power of long-term trends. As the market returns to this well-defined path, companies like Nutritional Products International are well-positioned to lead the charge, delivering the products consumers are seeking in this next chapter of growth.

For more information about Nutritional Products International and how they can help your brand succeed, visit www.nutricompany.com.

MORE ON NUTRITIONAL PRODUCTS INTERNATIONAL AND ITS FOUNDER

NPI is a privately held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skin-care 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.

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.

Nutritional Products International (NPI) is proud to announce the promotion of Scott Gould to Executive Vice President. Previously serving as Vice President of Operations, Scott has been instrumental in driving the growth and success of NPI’s clients through innovative marketing strategies and technological expertise.

A fourth-generation retail professional, Scott has consistently demonstrated a unique blend of technical and creative skills, making him an invaluable asset to NPI. His leadership in directing creative social media campaigns, developing unique promotions and contests, and building consumer trust has significantly enhanced brand recognition for NPI’s clients. Scott’s innovative approach to e-commerce, including the integration of real-time warehouse inventory with merchant systems, has streamlined operations and improved the customer experience.

Throughout his tenure, Scott has successfully managed multiple high-budget advertising campaigns, delivering real ROI and increasing market presence for NPI’s clients. His keen understanding of current market trends and ability to craft the right messages for the right audience at the right time have been pivotal in NPI’s continued success.

Scott’s promotion to Executive Vice President is a testament to his ability to work interdepartmentally, coordinating the efforts of the sales, marketing, and Internet technology teams. His creative thinking and technological expertise have allowed NPI to remain at the forefront of the industry, blending the company’s established model for success with cutting-edge innovation.

“I am proud of Scott, who has become a vital part of the company and the catalyst for procuring new brands,” said Mitch Gould, CEO and Founder of NPI. “I am pleased to announce his promotion to Executive Vice President. He has been a very loyal, conscientious worker who has helped Nutritional Products International achieve its global status in the marketplace. Since 2008, NPI has helped many global and domestic brands achieve their vision and goals.”

Scott’s contributions have not only strengthened NPI’s position in the U.S. market but have also played a critical role in helping global brands successfully enter and thrive in the largest marketplace in the world. His ability to foster trust and deliver results has been a cornerstone of NPI’s success.

For more information about Nutritional Products International and its range of services, please visit www.nutricompany.com.

MORE ON NUTRITIONAL PRODUCTS INTERNATIONAL AND ITS FOUNDER

NPI is a privately held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skin-care 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.

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.

As the retail industry continues to evolve, businesses and retailers must stay ahead of emerging trends to remain competitive. This year’s National Retail Federation’s Big Show, held at the Javits Center in New York City, brought together global leaders and innovators to showcase the latest trends and innovations shaping the future of retail. Among the key trends identified were:

Meeting Shoppers Where They Are: Retailers are increasingly adopting an omnichannel approach, blending online and offline experiences to meet customers wherever they prefer to shop.

The Rise of Phygital Retail: The seamless integration of physical and digital experiences, known as “phygital” retail, is transforming how consumers interact with brands, offering a more immersive and personalized shopping experience.

Retail Experience in the Metaverse: The metaverse is no longer a distant concept. Retailers are beginning to explore virtual spaces where customers can interact with products and brands in entirely new ways.

Sophisticated Return Process Initiatives: Streamlined and customer-friendly return processes are becoming a crucial part of the retail experience as consumers demand greater convenience and flexibility.

Hyper-Personalizing the Retail Experience: Advanced data analytics and AI are enabling retailers to offer personalized experiences at an unprecedented scale, tailoring everything from product recommendations to marketing messages.

As these trends reshape the retail landscape, businesses worldwide are looking to enter the lucrative U.S. market. Navigating the complexities of U.S. distribution and marketing can be daunting for international brands. This is where Nutritional Products International (NPI) steps in as a vital partner.

NPI, under the leadership of Founder and CEO Mitch Gould, has revolutionized the distribution landscape with its innovative “Evolution of Distribution” platform. This comprehensive solution simplifies the importation, distribution, and marketing process for international brands looking to enter the U.S. market. By ensuring compliance with FDA regulations and streamlining customs clearance, NPI empowers brands to launch and expand their presence in the U.S. with ease and efficiency.

“At NPI, we are committed to devising effective strategies to secure visibility for new products and connect brands with both consumers and retailers,” states Mitch Gould. “Our proactive engagement with major retail buyers at trade shows like the NRF’s Big Show ensures impactful presentations of client products to top retailers, fostering mutually beneficial partnerships.”

For brands outside the U.S., now is an opportune time to tap into the American market. Recognizing the challenges faced by international brands in establishing a direct presence, Gould founded NPI as the conduit to American consumers and retailers. NPI serves as the American office for international clients, eliminating the barriers associated with setting up a direct presence in the U.S. market. This enables brands to expand their market presence cost-effectively and efficiently.

Through strategic partnerships, Gould has secured orders from some of the largest retail accounts in the world, including Home Depot, Costco, Walmart, Sam’s Club, Walgreens, CVS, GNC, and Vitamin Shoppe.

In collaboration with InHealth Media (IHM), NPI offers a comprehensive turnkey solution that encompasses importation, distribution, and promotion, all under one roof. IHM provides extensive media exposure and marketing support to brands seeking to penetrate or expand their presence in the U.S. market.

For more information on Nutritional Products International, please visit www.nutricompany.com. Additional details on InHealth Media can be found at www.inhealthmedia.com.

MORE ON NUTRITIONAL PRODUCTS INTERNATIONAL AND ITS FOUNDER
NPI is a privately held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skin-care 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.

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.

ABOUT IN HEALTH MEDIA
InHealth Media is a result-driven, strategy-based, creatively focused media agency that provides comprehensive media services with a global reach for sports, health and wellness, beauty, personal care and nutrition markets.

Convenience stores across the United States achieved record sales of $859.8 billion in 2023, marking a significant milestone for the industry, according to newly released data from the National Association of Convenience Stores (NACS).

Of this impressive total, $327.6 billion was generated from in-store sales, with the average customer spending per visit rising by 3.7% to $7.80.

Foodservice sales, encompassing prepared food, commissary, and various dispensed beverages, emerged as a pivotal driver of this growth, contributing 26.9% of in-store sales—an increase of 1.3 percentage points from the previous year.

The category’s profitability was even more pronounced, accounting for 37.3% of total in-store profits. Leading the charge was prepared food, which saw a 12.2% increase, making it the top in-store sales category.

Amid this backdrop of record-breaking sales, Mitch Gould, founder and CEO of Nutritional Products International (NPI), continues to leverage his expertise in bringing quality nutritional and consumer products to market. Gould’s extensive experience and strategic insights have been instrumental in launching successful products in the highly competitive retail space.

Gould’s notable achievements include the rapid nationwide rollout of Steven Seagal’s energy drink, Lightning Bolt, to major retailers such as Walmart and 7-11. His comprehensive approach covered every aspect, from manufacturing and logistics to distribution, advertising, sales, and marketing on a global scale.

“NPI’s deep-rooted relationships with key buyers across the nation facilitate entry into major retail accounts, including Amazon, Target, Walmart, Home Depot, Lowe’s, Walgreens, GNC, CVS, Rite Aid, and Costco,” said Gould. “Our proven track record and extensive industry knowledge position us to help manufacturers achieve rapid market success.”

For more information, visit www.nutricompany.com.

MORE ON NUTRITIONAL PRODUCTS INTERNATIONAL AND ITS FOUNDER
NPI is a privately held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skin-care 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.

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.

In our current issue, we at The Leaders Globe Media cover ‘The 10 Most Innovative Companies to Watch in 2024’ to honor this drive towards unabashed efficiency and business streamlining. We dedicate this issue to recognize and celebrate the trailblazers who have mastered the art of optimizing operations and achieving unparalleled success.

Read full story here: https://theleadersglobe.com/issue/the-10-most-innovative-companies-to-watch-in-2024-2/