Monitoring the health of the industry
New Hope Network and NEXT Data & Insights care passionately about the natural products industry. We help brands understand market dynamics in order to succeed in their businesses and product development. Part of this process includes understanding and assessing key pillars of the natural products industry, like trends, consumer behaviors, as well as trailblazing innovation. Researching, evaluating, and providing insights to stakeholders around these foundational elements is always at the core of our business.
We are integrating this passion and expertise into tracking and monitoring the health and strength of the natural products industry during these uncertain times. Every Friday, NEXT’s research, data and industry insights will be captured in a new weekly column: Industry Health Monitor.
This collaborative column includes insights around major questions that have rattled the natural products industry, such as:
- What is the health of the industry?
- Will changes in industry fundamentals be short- or long-term?
- When will the market begin to return to normal?
- What does the new normal look like?
- What challenges are other brands facing?
- How are other brands addressing these challenges?
- What new best practices are emerging?
With the help of our Industry Health Monitor, you can see how consumers are responding. For example, data suggests that despite the uncertainties of today, consumer sentiment towards the values core to the natural products industry has remained steady, compared to those measured in 2017. Slight fluctuations are to be expected, but NEXT’s Industry Health Monitor will continue to track these behaviors and others in the weeks and months to come.
Check out the first two Industry Health Monitor articles here:
- 4/17 Monitor: Prepare for long pandemic recovery
- 4/24 Monitor: Consumers find trust and guidance in natural products industry
Speaking of industry health, is your brand considering innovation in the immunity category? NEXT’s Concept Lab can help, with results in 30 days.
And don’t forget to check out our NEXT Trends 2020 series for great brand examples of the 50 trends NEXT is monitoring in the marketplace. New brands and trends are being added daily (until we cover all 50 trends), so check back often!