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Vitamins Are Trendy. Vitamin Stores Aren’t.

Last week, the health and nutrition retailer GNC announced that as part of an ongoing initiative to improve its business, the company will be closing 200 stores.

But there’s more to GNC’s trouble than simply closing stores. The company’s revenue has been down over the past two years, from $2.6 billion in 2015 to $2.4 billion as of 2017. And while that’s certainly not chump change, it also doesn’t reflect the boom that the overall vitamin and supplement market is currently enjoying. There are projections that customers will spend $13.9 billion on vitamins and supplements this year, and analysts calculate the overall global market will hit $220 billion by 2023.

It’s fair to point to Gwyneth Paltrow for this one: Wellness has become a booming economy. A study from Women’s Marketing found that between fitness, beauty, health, anti-aging, and mindfulness, products in the wellness sector bring in $3.7 trillion annually. This study also found that women in the US invest in $40 billion worth of alternative medicine like supplements.

It’s fair to point to Gwyneth Paltrow for this one: Wellness has become a booming economy. A study from Women’s Marketing found that between fitness, beauty, health, anti-aging, and mindfulness, products in the wellness sector bring in $3.7 trillion annually. This study also found that women in the US invest in $40 billion worth of alternative medicine like supplements.

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