SymphonyIRI: Retailers, manufacturers should tap baby boomer market
CHICAGO According to research released Thursday from the SymphonyIRI Group — “Healthcare III: Understanding the Age-Driven Health & Wellness Needs of Baby Boomers” — retailers and manufacturers that understand which ailments will be driving growth among baby boomers, and know how to link new and existing products to the treatment of these ailments, will be in a position to capitalize on this opportunity.
“Americans aged 55 and older represent more than one-third of the U.S. population,” stated KK Davey, managing partner, SymphonyIRI. “This number alone is quite staggering, and when you couple it with the fact that they control 50% of discretionary income and fill 30% more prescriptions than the average person, you have a golden opportunity. Retailers and manufacturers need to build shopper loyalty and a new competitive advantage around increased variety and in-store messaging that support categories, segments, and products with specific benefits that link to aged-driven health and wellness needs.”
“More and more aging consumers are searching for food and beverage solutions to help them maintain a quality of life in managing what are often multiple chronic disease states,” added Sean Seitzinger, partner, SymphonyIRI. “In fact, two-thirds of disease-state shopper spending is earned by the grocery channel, which indicates grocery retailers have the largest disease-state management dollar opportunity during the next decade.”
Surveyed shoppers across all ailments rank whole grains, reduced fat and reduced sodium as attributes they look for to manage their conditions, SymphonyIRI reported.
Other “top of mind” factors ailment shoppers take into consideration include:
- High Blood Pressure — 87% of chronic sufferers depend heavily on prescriptions to treat their condition, but nearly 50% also focus on a healthy diet to manage and control their weight. They need to avoid high-sodium products, eat plenty of fiber and minimize high-fat, high-calorie products. Sugar-free diet candy, ground decaf coffee and sugar substitutes are popular products for these consumers;
- Diabetes — These consumers manage and treat their serious health condition with a regular regimen of medication and a well-managed diet. They look to foods that are naturally high in fiber, protein and nutritional ingredients and avoid sugar-added foods and beverages and high-fat foods to control weight. Sugar-free chocolate candy, sugar substitutes, low-calorie soft drinks and single-serve dinner entrees that offer reduced calories and high protein appeal to these consumers;
- High Cholesterol: 102 million chronic sufferers recognize that prescriptions can help reduce cholesterol levels but only in combination with a healthy diet. Since many high cholesterol sufferers have high blood pressure as well, there are frequent overlaps in how they treat their condition. Eating reduced-fat and low-cholesterol products are at the top of their list;
- Heartburn/Acid Reflux: 77 million chronic sufferers rely on prescription and recent prescription-to-OTC products to manage their ailment. Proper diet plays a smaller role, so antacid tablets, antacid liquid/powder and laxative tablets are sought-after products.
Alabama to implement e-tracking program to block PSE sales
WASHINGTON The Consumer Healthcare Products Association on Tuesday expressed its support for Alabama law HB 528, signed into law by Gov. Bob Riley, that calls for implementation of a real-time electronic sales tracking system to block illegal purchases of cold and allergy medicines containing pseudoephedrine.
CHPA also commended Rep. Frank McDaniel, D-DeKalb and Marshall, and Sen. Lowell Barron, D-DeKalb, Jackson and Madison, for securing bipartisan support for this important piece of legislation which passed through both chambers unanimously.
Alabama joins nine other states — Arkansas, Illinois, Iowa, Kansas, Kentucky, Louisiana, Oklahoma, Missouri, and Washington — that have adopted e-tracking.
“We applaud Gov. Riley and the Alabama legislature for implementing a solution that will fight domestic meth production while maintaining consumer access to important cold and allergy medications,” stated Linda Suydam, president of the Consumer Healthcare Products Association. “This system offers an effective solution to reducing meth labs and is the only solution that works across state lines.”
The makers of PSE-containing medicines are providing an industry-funded system to allow law enforcement to identify “smurfers” or those who try to illegally violate limits in state and federal law on the amount of PSE-containing medicines individuals can purchase in a given period of time. E-tracking poses no new barriers to consumers, collects only the information already required under federal law, and enables law enforcement to find the meth labs that would otherwise go undetected.
According to a recent poll conducted by David Binder Research, more than three-fourths of Alabama voters support an e-tracking system. The poll also found that voters believe e-tracking will help law enforcement receive the information they need to identify those who are purchasing illegal amounts of medicines containing PSE. As many as 78% of those surveyed agree that e-tracking will be “a huge help to law enforcement.”
Cobroxin to be featured on morning talk show
DELRAY BEACH, Fla. XenaCare announced Wednesday that its over-the-counter pain reliever, Cobroxin, will be featured on a segment of “The Balancing Act,” a morning show that airs on Lifetime Television.
“As the only morning show in the United States dedicated specifically to educating, inspiring and empowering women, ‘The Balancing Act’ reaches an important segment of Cobroxin consumers,” stated Frank Rizzo, president and CEO of XenaCare. “We look forward to working closely with ‘The Balancing Act’s’ hosts, Beth Troutman and Kristy Villa, to help continue to educate viewers about Cobroxin and its added benefits over traditional pain relievers.” he concluded.
Cobroxin contains minute quantities of cobra venom — manufactured in accordance with the Homeopathic Pharmacopeia of the U.S. — as its active ingredient.
The segment is slated to air May 17 and May 31 and will feature an interview with Rik Deitsch, chairman and CEO of Nutra Pharma Corporation, the company that developed and currently manufactures Cobroxin.
Cobroxin currently is available as an advanced oral spray for treating migraine headaches, neck aches, shoulder pain, cramps, lower back pain, and neuralgia and also is available as an advanced topical gel for treating joint pain and pain associated with repetitive stress and arthritis, the company stated.