Consumer E-commerce Comfort Helps Amazon Health Product Sales Jump 50%
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.
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The mega-retailer has been quietly growing its selection of private-label and Amazon-exclusive brands, recently adding Fast Beauty Co., which targets affordable, fast-acting masks to consumers on the go.
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.
Walgreens Boots Alliance (WBA) is “not particularly worried” by online retail giant Amazon’s growing interest in the pharmacy market, according to the wholesale and retail giant’s chief executive officer Stefano Pessina.