Taking part in the growth of Internet sales of vitamins and supplements
One portion of the U.S. audience that continues to be extremely health conscious is the baby boomers. Their consumption of calcium, Vitamin D, fish oil capsules, and supplements to keep joints moving without pain are at record levels. Many people in this audience prefer to purchase their supplements online via Nutraceutical Merchant Accounts because they can rest comfortably in front of their computers and compare brands, contents, and costs.
Another group that keeps the keyboards working is those searching for a diet and weight loss products. Our nation as a unit is overweight. There are record numbers of people being diagnosed with Type II Diabetes every day. The ‘cure’ most nutritionists say is to lose weight. Current diets full of refined sugars have made so many people insulin-resistant that those really wanting to lose the extra pounds are ordering supplements as well as meal replacements online.
According to marketresearch.com, by 2016, nutrition and dietary supplement market retail sales are expected to cross the $1 billion mark. The market is expected to grow at a CAGR of 4.54% between 2011-2016 driven by sports nutrition and weight loss demand and multivitamins demand.
The Wall Street Journal says that Nutraceutical Merchant Accounts (sales of vitamins, minerals, and supplements) totaled nearly $23 billion in the U.S. last year, according to Euromonitor International, and are growing at a 5% to 7% annual clip. IBIS World states further that “Recessionary drops in employment levels and the resulting decrease in access to health insurance led consumers to purchase vitamins and supplements as alternatives to expensive prescription drugs.”
It makes one wonder with all the revenue that can be captured via online sales, why do the card associations consider Nutraceutical Merchant Accounts a high-risk business? One reason, in their minds, is that because of the lack of FDA controls, there is no oversight on claims, products, or ingredients. However, the industry regulates itself. If there is a maker or manufacturer selling bad products or making false claims, the competitors are the first ones to issue complaints.
Banks and traditional, conservative credit card processors virtually will not touch an online merchant of vitamins and supplements. However, if a merchant keeps his chargebacks under three percent, eMerchant Brokers will welcome you with open arms. This is because they specialize in high-risk merchants. There are no application or setup fees. The rates are highly competitive and you can receive approval in as little as 48 hours.
To get approved for a nutraceutical merchant account in 48 hours click on the button below