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Hidden Growth Drivers of “Energy Everything” Explosion
Consumer interest in caffeine has never been higher with a collection of recent surveys stating on average three-fourths of American adults consume caffeine daily. While coffee has been powering Americans before America was even a thing, more recently consumers are increasingly grabbing some of the other “energy everything” product categories. It makes sense, right? We live in the “Age of the Endless Aisle,” where there are more options in every CPG category than during any other point in history. It’s that proliferation of caffeine-containing products and them being well-entrenched into the lives of most Americans that's causing “energy everything” to become a certified consumer movement. Whether hitting the gym, staying at the top of your game during busy workweeks, or simply preparing for weekend activities, consumers continue to reach for energy drinks and energy supplement that are packed with caffeine and oftentimes nootropic ingredients to provide a physical and mental boost. But are there evolving sociological patterns that could be driving the massive growth of energy and nootropic products?
You Can Learn A Lot From 1st Phorm
I recently had the opportunity to visit the 1st Phorm headquarters in St. Louis, MO. I've probably visited a few hundred corporate offices/facilities over the last decade of J. Schall Consulting, but none of them gave me a feeling like this one. It had an energy that was distinct, unique, and inspiringly different! 1st Phorm is successful by any traditional capitalistic metric. More importantly though, 1st Phorm is also wildly successful by a non-traditional capitalistic metric. Ralph Waldo Emerson once said, “doing well is the result of doing good. That's what capitalism is all about.” At its best, capitalism is beautiful and can be the biggest positive change agent for humanity. Any company can say they have a mission, but only authentically mission-driven companies can show actual proof. The most powerful proof will come from its customers and employees. 1st Phorm has changed countless customer lives...that's super evident even with the quickest glance at social media, but what was really cool about yesterday was that I got to see the other side. Even with the highest of expectations of walking in those doors, I was blown away...
Concept Explained: “Energy Everything”
Did you know three-fourths of American adults consume caffeine daily? Whether it’s drinking a cup of coffee in the morning, turning to an energy drink midday to stay sharp at work, or mixing up a pre-workout powder before hitting the gym, caffeinated products have become an integral part of daily life. It’s that proliferation of caffeine-containing products and them being well-entrenched into the lives of most Americans that's causing the “energy everything” movement…
New Normal: Supplement Industry
It’s irrefutable that “COVID-19 Effect” headwinds/tailwinds changed almost everything about the supplement industry. With markets evolving quickly because of elevated consumer interest in the space…it positions the supplement industry as a key gateway into the $1.5 trillion global wellness market. This increased market growth is also bringing additional commercialization activity to an already ultra-competitive space. The fact is that brands must stay ahead of the curve by identifying specific trends earlier and being more aggressive in their actions to fill demand. My intent for this content is to provide supplement industry professionals with a snapshot of what benefitted, evolved, paused, and was damaged by most powerful “COVID-19 Effect” headwinds/tailwinds. These insights will surround the following marketplace variables; product Categories/Attributes, Business Strategies, and Shifts in Consumer Behavior.