Ad Claims, Q3 Results, Private Placement: Health & Wellness Industry News
This article was originally published in The Rose Sheet
NAD tips Balance of Nature claim to FTC; Vitamin Shoppe sales down 8.5%; ChromaDex gains $23m in private placement; and more health and wellness news in brief.
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A February 2019 inspection of Balance of Nature’s manufacturing facility in St. George, UT, led FDA to claims on the firm's branded website and YouTube channel, which the agency says mark its products as unapproved drugs. Meanwhile, the site inspection turned up quality control and procedural documentation issues that still need to be resolved.
The firm has looked to boost sales through a retail re-invention strategy for improving customers' shopping experience with better store layouts, product assortment and website improvements. Now it’s using tools “directly focused on customer acquisition, price/value and customer retention,” CEO Colin Watts says.
Pain relief product sales grew 27% and upper respiratory sales 35% for the week ended 7 March as consumers respond to COVID-19, according to Nielsen data noted in a Jefferies report on consumer health purchasing trends. Private label market share is up slightly, while OTC purchases continue primarily in conventional stores.