BOCA RATON, FL, June 08, 2020 (GLOBE NEWSWIRE) -- The American economy received some welcome news last week.
Wall Street investors pushed the Dow Jones to within 5 percent of passing its high before COVID-19.
“Investors see the economy rebounding faster than expected,” said Mitch Gould, founder and CEO of Nutritional Products International. “We had the strongest economy ever before the pandemic, which is one of the reasons the stock market has stayed relatively strong.”
Bloomberg Economic’s weekly report showed a steady uptick in several leading economic indicators, such as unemployment benefits, mortgage applications, and restaurant bookings.
Last month, Larry Kudlow, head of the White House National Economic Council, predicted a strong third quarter, perhaps showing a 20-plus percent annualized growth rate.
“That probably would be the single best GDP quarter in recent years,” Gould said.
Last week, investors reacted positively to the news that the economy added 2.5 million jobs in May, which some think signals a quick V-shaped economic recovery.
“Now that almost all 50 states in the United States are reopening, we saw that many companies started rehiring,” Gould said. “The strong job growth in May was a very good sign.
Despite the pandemic closing down a large percentage of the economy for several months, Gould points out that many businesses, especially in the health and wellness sector, remained open and did well the past few months.
Gould and NPI primarily work with health and wellness companies that want to expand their presence or enter the U.S. economy.
“A leading health and wellness trade publication, Nutritional Outlook, reported skyrocketing sales for dietary supplements during the pandemic,” Gould said. “The American consumer has been seeking a healthier lifestyle for years, and the COVID-19 pandemic focused them on how to stay healthy.”
During the pandemic, online sales for health and wellness brands saw dramatic increases.
“More people had been buying online before the pandemic. The shift to online sales has been ongoing for several years,” Gould said. “The pandemic forced American consumers, even those who had avoided online purchases, to shop at e-commerce retailers, such as Amazon, which had to hire several hundred thousand workers to keep up with the demand.”
Gould said it looks likes America will experience a “V” recovery, which means the economy will rebound fast.
“Now is the perfect time for health and wellness brands to be aggressive and enter the market,” Gould said. “The consumer is scouring the internet for health and wellness products. People are looking for products that will improve their health. You want them to find your products before they choose your competitors.”
Gould created the “Evolution of Distribution” process to provide domestic and international product manufacturers with the sales, marketing, and product distribution services required to succeed in the United States.
NPI’s president, Jeff Fernandez, who has longtime professional experience in the health and wellness industry, worked as a retail buyer with Amazon, the largest online retailer, and Walmart, the largest brick-and-mortar retailer. Fernandez helped create the luxury skincare and the health and wellness categories at Amazon in the early 2000s when the online giant was only selling books and electronics.
“Today, NPI’s staff has the expertise, infrastructure, and contacts to create a profitable experience for quality health and wellness companies,” Fernandez said.
For more information about NPI, visit www.nutricompany.com.
MORE ON NPI AND ITS FOUNDER
NPI is a privately-held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skincare products. NPI offers a unique, proven approach for product manufacturers worldwide seeking to launch or expand the distribution of their products in the U.S. retail market.
Mitch Gould, the founder of NPI, is a third-generation retail distribution and manufacturing professional. Gould, known as 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.
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