[MONDAY MINUTE] Why Quince is a Nightmare for Established Supplement Brands

If it wasn’t enough that sports nutrition brands face increasingly stronger private label threats from large retailers…they must now contend with competition from Quince, a bargain-priced luxury online marketplace that built its name from selling $50 cashmere sweaters. But if you’re thinking, “developing collagen supplements and cashmere sweaters cannot much in common,” you’d be wrong…and I’m not even talking about those cute goats either! Whether its supplements or sweaters, Quince has strategically altered the traditional private label product development approach of entering crowded markets. Let me break down the Quince strategic approach in three simple parts. By analyzing industry reports, Quince can identify best-selling supplement types and ingredients. By customer review mining, Quince can use its competitive landscape to better understand consumer preferences and pain points. And finally…by leveraging a highly efficient “Manufacturer-to-Consumer” model, Quince can offer high-quality supplements at a fraction of the cost of premium competitors.