November 2017 : Confidence Issue
When we talk about confidence in the supply chain for the supplements industry, we are talking about something that is sorely needed and widely misplaced. For supplements, confidence is a work in progress, and progress can seem elusive.
Last year we surveyed consumers about how much they trusted supplements. The news was not encouraging. Consumers saw supplement makers as only a bit more trustworthy than Congress in a year when distrust of the status quo had seismic implications. We repeated some of that research this year, and the results were even more disheartening. Trust in supplements actually fell. The work that has been done in the industry has been notable, but the problems that chip away at that trust can seem intractable. Trust is won in the long haul.
The same technology that allows consumers to trace a lot number from their phones in the aisle at Whole Foods is, of course, a completely achievable option at the B2Blevel. "What you don’t know won't hurt you" is over.
Confidence may be a work in progress for the industry, but nothing stirs progress like profit. Making a lack of confidence costly could be the most important change the supply chain will ever see.