From launching an investment arm, to entering new categories and creating mission-based initiatives, it’s been a busy year for Thrive Market. But most importantly, by developing robust partnerships with its vendors, the online retailer has worked toward its overarching goal of making healthy foods more accessible to all consumers.
At NOSH Live 2018 Jeremiah McElwee, Thrive Market SVP of merchandising and product development, spoke to the assembled crowd about how Thrive can partner with brands and how it can serve as an effective sales and marketing platform. McElwee noted that, according to research firm Nielsen, by 2022 consumers will spend $100 billion dollars per year on online grocery shopping and that 70 percent of consumers will be grocery shopping online in the next five to seven years. Thrive itself, he added, has over 400,000 subscribed members.
While the numbers themselves are impressive, it’s the reason why consumers are shopping at Thrive that matters most. The retailer has found that the bulk of its diverse consumer pool aren’t within a 100 mile radius of a natural products store and 45 percent live in the midwest or southwest. Thrive makes an entirely new set of products available to these shoppers.
The retailer has also adopted some of the highest quality standards for its vendors, McElwee said, and compliments its assortment with education and content creation from its own staff as well as influencers. The result, he said, is a less confusing “aisle” for shoppers, where brands have the opportunity to cut through the clutter and connect with “the broader consciousness.”
“We really value long-term strategic partnerships and its a goal. Without you all, brand owners founders, CEO’s, we don’t have a retail outlet.” McElwee said. “We made it an early promise, going back four years ago before we even launched, to be a true win/win partner.”
Watch the video above to see McElwee’s complete presentation from NOSH Live Summer 2018.