Retailers to Watch in 2023: GNC
Each year brings with it a new set of challenges to the nation’s retailers, and 2022 was no exception. Consumers evolving their shopping habits while also facing inflation rates not seen in a generation required retailers to be nimble to meet the needs of their customers.
As 2022 comes to a close, Store Brands has put together a list of 10 retailers we think are worth watching closely in the New Year. From leading grocery chains to growing e-commerce players, the coming 12 months will see retailers face new challenges, revamp product assortments and provide consumers with new options to meet their ever changing demands.
The profiles of the 10 retailers Store Brands has selected will provide you an overview along with our thoughts on why each is worth watching in 2023.
Overview
When it comes to the health and wellness category of retailers, GNC is in a league of its own. Through a “science-based” approach to crafting its portfolio of own brand products, along with launching retailer-exclusive collaborations on a seemingly-weekly basis, the retailer is primed for another strong year in 2023.
What to Watch
Founded in 1935, GNC has grown to become the leading health and wellness retailer with a wide variety of private label products and brands. Since the COVID-19 pandemic hit the U.S. in March of 2020, consumers have gravitated towards a number of products with added benefits in order to stay healthier, including physically and mentally.
Products like zinc, vitamin D, vitamin C, elderberry and more all saw rises in popularity as consumers looked to avoid getting sick. As the pandemic waned, consumer interest changed, and GNC had to continuously evolve. The retailer has followed the trends closely, particularly to best serve its customers with private label products. According to GNC’s leadership, listening to customer feedback and figuring out what kinds of products are trending has been crucial for the
retailer’s success.
“We also recognize our consumers have expectations for the products and experience at GNC,” said Rachel Jones, MS, RDN, senior vice president and chief product innovation and science officer, in a recent Q&A with Store Brands. “We continue to focus on providing products that are science-backed, high-quality and efficacious (regardless of the trends) while also ensuring consumers are able to work with our associates and coaches to work towards their unique wellness goals.”
Another one of GNC’s biggest strengths has been its ability to roll-out fun and unique exclusive products at a dizzying pace. Whether it be fitness product exclusives seen with collaborations alongside Girl Scouts of America, GHOST, G Fuel and Bucked Up, or wellness product exclusives like its offerings form The Honest Company, GNC continues to offer something for all of its customers.
In 2023, look for GNC to continue building its private label and exclusive product portfolio while staying on top of trends and dominating the health and wellness category.