Change is Coming
The health & wellness industry has begun a shift away from a race to the bottom on price and towards a future of trusted, high-quality and values-aligned products.
What does this mean?
There are already winners & losers
Who?
In the last few years there have been some spectacular failures. GNC raised $360m at IPO in 2011. In less than 10 years they declared bankruptsy following product quality scandals.
Whole Foods Market, a brand built on quality, have launched a supplement brand called 365 that has become the second-best selling label on Amazon, shortly behind Amazon's own-brand product.
It's not about price
Traditional approaches are ceasing to work
What's changing
Consumers are increasingly awakening to the fact that flashy marketing doesn't ensure high quality. The high-profile scandals of the likes GNC and Herbalife have brought this into public consciousness. That brings increased scrutiny all along the supply chain. How will we respond?
The truth is out there
Consumers are searching for answers
We, the industry, can make them easier to find.
Companies are already starting to address the demand from informed consumers to get more confidence in their products. These include companies like Examine, Lab Door and Consumer Lab.
We believe this approach is dated and ineffective, it's quality control at only the very last stage of production. We believe a Total Quality Management approach is better and cheaper for everyone.
A Better World is Possible
The Future
Our Key Pillars
Alethium believes that by supporting the industry in these ways we can enable everyone to have a good day at the office
Transparency
Trust
Trust goes beyond transparency. Itβs a feeling that comes, in part from transparency, but importantly also from community. It includes feedback, scores and plain old speaking to each other.
Discovery
Because we make it easy to work out who you can trust, we make it easy for finding new suppliers to just work. You no longer know who you buy from or sell to on B2C platforms like Amazon, Uber or AirB&B. B2C can have the same level of ease.
Simplicity
Humanity
Underpinning everything we do is the human connection through community. We all thrive or struggle as a result of relationships, not one-off interactions.
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Next Steps
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