Amazon's Solimo Supplements' Prices, Selection Slow Market Share Incursion
This article was originally published in The Rose Sheet
Amazon’s Solimo supplements and personal care line overall is priced higher than Walgreens' brand but lower than CVS', Jefferies Equity Research Americas found. Solimo could present a formidable threat to the supplements category, but its limited assortment so far and pricing should prevent “material market share shifts” in the near-term, Jefferies says.
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Amazon’s nutrition and wellness sales soared 55% in 2018 to around $2.5bn and health product sales, including OTC drugs, jumped 50% to about $600m, as consumers grow more comfortable purchasing health products online, says e-commerce market research firm Edge by Ascential.
Amazon’s Solimo supplement and Basic Care OTC lines unlikely to expand much, says Jefferies analyst Brian Tanquilut. Still, brands are well positioned against retail private label competitors, as most products are priced lower than similar products by Walgreens and CVS.