Digitization is possible for incumbents in the nutraceutical industry

Digitization is here, in our lives, there is no doubt about it. Consumers, especially millennials, are becoming digital and they expect their consumer experience to be digital as well. That means the possibility for them to buy online, to start a communication with the brand,… and if we talk about the nutraceutical industry, some more, to see the effect of the product in real time, to trace the ingredients and even the possibility to get a personalized product.

Industries like retail, media, traveling, lodging already provides good examples of this.

Instead of taking this fact as a threat to our industry we want to see it as an opportunity because it is in our hands to capitalize this digital disruption. We, the incumbent firms, know this industry better than anyone else. We know about the consumer preferences, the market trends, the regulation,…we just need to embrace the digital world.

There are examples in other industries, like entertainment, of incumbents reacting to the new reality. For instance Disney. They have developed what they call “My Magic +” to allow visitors to customize their experience at Disney park. For Disney is also a way of collecting data to improve the experience the next time.  

In our case, Monteloeder, now when we develop a new branded ingredient we do clinical trials measuring the results in the research center but we also measure the results making use of wearable devices, so the volunteers can see by themselves the effect of the product in real time. This is what we can offer to other companies, I prefer to say, partners, the possibility of making more relevant their “consumers consumption experience”.

We Monteloeder have just developed an App for our ingredient Nutroxsun, oral sunscreen. Based on your location and your skin phototype the App is going to tell you how long you can be exposed to the sun before getting sunburn.

We are going to start another clinical trial with our ingredient MetabolAid, for metabolic syndrome, and we are going to make use as well of wearable devices to measure the physical activity, the heart rate and the blood pressure of the patients, so they can see the results by themselves and be aware of the improvement.

Ignacio Cartagena

Vice President, Sales

 

Related articles:

https://www.monteloeder.com/blog/2017/08/monteloeder-digital-nutraceutical-for-you-a-new-strategy-is-possible/

https://www.monteloeder.com/blog/2017/07/how-to-be-on-the-winning-side-to-digitalization-in-healthcare-by-mckinsey/

https://www.monteloeder.com/blog/2017/06/new-feature-to-access-the-latest-product-specifications/