TORONTO, BUSINESS WIRE (AUG 1, 2018)
In the new world of commerce, buyers today require and demand the tools and technology to predict and prioritize the right products for their business and their customers. Hubba is not only the leading global wholesale marketplace, but with a combination of machine learning and human curation, helping independent retailers discover and stock the right products quickly and efficiently.
40 percent of small businesses surveyed are asking for an independent B2B rating system
In 2017, the U.S. market for health and wellness reached around 167 billion U.S. dollars. With nearly 100 different diet types, health and wellness brands competing for customer loyalty must first win the approval, not of big box retailers, but small businesses, who customers turn to for guidance and expertise on products and industry.
The new role of independent retailer as micro-influencer
90% of brands surveyed plan to grow distribution aggressively over the next 2-5 years with expectation to be the next disruptor brand in their category. With that, retailers are increasingly expected to sort through an oversaturated market of product promises and identify the true “best-sellers” among countless pitches.
New entrants in health and wellness are shaping the future of the category and we see the influence of new brands and independent buyers move the needle on trends. While the populous health food stores continue to focus on Paleo and Whole30 Foods – Specialty Small Business Stores are stocking up and selling out of Keto based products they found on Hubba.
“I didn’t know about Ketogenics. I was solely focused on Whole30 and Paleo-friendly foods until Hubba showed me that this was a new trend… It’s just not trending in big stores right now – like Whole Foods – because it’s still niche,” says Shakzod Khabibov, Owner of Natura Market.
97% of Health and Wellness buyers on Hubba are specifically looking to connect with Keto product suppliers
We see a saturation point approaching the retail industry. As more brands enter this crowded market, consumers and retailers alike are facing a paradox of choice, finding it hard to differentiate one brand’s claim from another. Hubba’s proprietary data helps identify and predict what customers will want and surface the industry trends that matter to each retail buyer.
Whether looking for Keto supplier, what’s new in CBD, or curious about what new product to trial with customers, even those that are not sure what they are looking for, Hubba allows health and wellness store owners to move fast and stock shelves with products targeted at the unique needs of their customer base.
It is increasingly difficult for customers to decipher between the many claims associated with each product in health and wellness category. Being inundated by ads and viral content consumers are increasingly looking for guidance, nearly 40% highly influenced by recommendations and rely on specialty store shop owners to be the experts in the industry.
The right tools and technology helps retail buyers improve their ability to discover and build the right inventory mix, build a network of business partners and connect with their customers to sell products at better margins. Those who do already find themselves ahead of the curve on trends and able to serve their customers .