Amazon is Expected to Add $294 Billion in Sales by 2026
BOCA RATON, Fla., June 21, 2022 /PRNewswire/ — Amazon is poised to dethrone Walmart as the largest retailer in America.
"Competition brings out the best in business. Walmart’s success drove Amazon to reach higher heights. Amazon’s innovations, such as same-day delivery, pushed Walmart out of its comfort zone," said Mitch Gould, Founder and CEO of Nutritional Products International, a global brand management firm based in Boca Raton, FL.
Supermarket News reported earlier this month that Amazon not only will add $294 billion in U.S. sales by 2026, but its market share will increase to almost 15 percent whereas Walmart’s numbers will decrease from 13.2 percent to 12. 7 percent.
"This is a seismic change in the retail industry," Gould said. "In 2021, Walmart led Amazon by almost $90 billion in sales."
"During my career, I’ve sold to Walmart and visited its national headquarters in Arkansas," Gould said. "When Amazon created its health and wellness category, I helped develop it by signing up major brands to place their products onto the new the virtual shelves."
Gould said he caught the e-commerce wave when Amazon began branching out beyond books and electronics.
"It was an exciting time in retail history," Gould said. "It was the beginning of online sales growth and we were a part of it."
At NPI, Gould and his team create a path to the U.S. market for domestic and international health and wellness brands.
"I developed the ‘Evolution of Distribution’ platform, which streamlines product launches," Gould said. "Before, product manufacturers often had to deal with multiple vendors when introducing new products to the American consumer, especially if they were overseas companies."
Gould said he took all the professional services, such as sales, support, marketing, logistics, and regulatory compliance, and placed them under NPI’s control.
"We emphasize cost efficiencies and speed to market," he added.
NPI works with its sister company, InHealth Media, to coordinate a marketing plan for the new products.
"IHM utilizes strategic public relations plans, TV promotion, influencers, and earned media to bring new products to the attention of consumers," he said.
For more information, visit www.nutricompany.com.
Mitch Gould, a global marketing guru, has represented icons from the sports and entertainment worlds such as Steven Seagal, Hulk Hogan, Ronnie Coleman, Roberto Clemente Jr., Chuck Liddell, and Wayne Gretzky.