As stated in a January 2016 article in Consumer Reports, “Americans spent an estimated $41 billion on sleep aids and remedies in 2015, and that’s expected to grow to $52 billion by 2020."
In 2015, HBW manufacturers offered consumers a number of new solutions to combat this problem. Here are some highlights:
Of the top 25 performing new items for the pain relief category in chain drug, roughly half are related to sleep.
In independent drug, 37% of pain relief new item unit sales came from sleep SKUs.
New melatonin products launched in the vitamins/dietary supplements category in 2015. In 2014 HRG did not review any melatonin products.
Four of the 2015 melatonin new items have already excelled to the top 500 in unit movement for chain drug*.
Feminine care saw the launch of new Summer's Eve cleansing products featuring lavender scents geared to be used as part of nighttime rituals. These products have been well received, showing good movement in both independent and chain.
As you think about how to grow and position your brand, keep your eye on the numbers to see what concerns consumers are still trying to solve. Correctly identifying the opportunities may be your ticket to a good night’s sleep!