Boosted Commerce, the leading consumer eCommerce platform that acquires and grows third-party businesses on Amazon and Shopify, announce the acquisition of WellPath, the leader in nutritional supplements. From 2019 to 2020, WellPath’s sales grew 139%, and this year, WellPath earned a top spot on Inc’s fastest-growing companies list, ranking #68 out of 5,000.
This acquisition underscores Boosted’s dedication to becoming a leader in the wellness space. With its deep industry expertise both on and off Amazon, Boosted plans to scale WellPath through new product development and offline marketing to complement the company’s existing suite of top-line wellness products.
McKinsey & Co. recently valued the global wellness market at more than $1.5 trillion and growing. Yet, while the industry grows, a significant portion of the category remains untapped by aggregators, who shy away due to operational complexities or the threat of mainstream competition. In fact, according to a recent survey by Fortunet, supplements and cosmetics are two of the categories aggregators exclude when purchasing Fulfilled By Amazon (FBA) businesses. That said, Amazon recently called beauty, another category Boosted has heavily focused on, one of its fastest-growing categories, and in 2020, it captured 32% of beauty and personal care purchased online. Boosted believes that trend will only continue.
“At Boosted, not only are we not intimidated by these categories, but we are actively pursuing them,” said Boosted’s CEO and Co-founder, Keith Richman. “We think there is an incredible opportunity within wellness as everyone from Gen Z to Boomers recognizes the positive impact that high quality supplements can have on their well being. We also have a deep understanding of the customers in these categories. They are more likely to develop an affinity for the brands they love, resulting in repeat purchases and bigger basket sizes.”
Boosted has assembled a team of experts in product marketing, supply chain management, and data insights to focus on the wellness and personal care markets and their customer base.