GNC Pins Hopes on Ozempic to Revive Struggling Business
GNC, a prominent vitamin and dietary supplement chain, is implementing a new strategy to revitalize its business by targeting individuals taking GLP-1 drugs for weight loss, including popular medications like Ozempic and Wegovy.
The company, which has faced financial challenges for several years and filed for bankruptcy in 2020, aims to attract customers by offering a dedicated section in its 2,300 US stores with products specifically tailored to support individuals managing GLP-1 medications. This includes vitamins, protein shakes, and supplements designed to address common side effects associated with GLP-1s, such as muscle loss and gastrointestinal issues.
The move by GNC comes in response to the growing popularity of GLP-1 drugs, with US healthcare providers prescribing over 9 million prescriptions for these medications in the last three months of 2022 alone. Analysts estimate that by 2030, approximately 30 million people in the US may be taking GLP-1 drugs, representing around 9% of the population.
GNC’s strategy shift mirrors similar moves by other companies in the health and wellness industry. WeightWatchers, for instance, has introduced a new membership plan offering access to doctors who can prescribe GLP-1 medications, while gyms like Life Time are acquiring weight loss clinics to cater to members on these medications.
The pharmaceutical industry is also responding to the trend, with companies like Novo Nordisk, Pfizer, and Roche racing to develop and market their versions of GLP-1 drugs. This shift is prompting food companies like Nestlé to invest in nutritious products that cater to individuals on GLP-1 treatments, anticipating changes in consumer behaviour towards healthier options.
Despite the potential benefits for GNC, the full impact of GLP-1 drugs on public health remains uncertain, with ongoing research needed to understand their long-term effects. However, GNC’s strategic pivot underscores the evolving landscape of the health and wellness industry as it adapts to meet the changing needs of consumers managing chronic health conditions.
