‘Shark Tank’ promotes pediatric medical products
"As seen on ‘Shark Tank’" may become the new "As Seen on TV" plug, especially if more products like Ava the Elephant — a pediatric medical dispenser that talks to children as its dispensing the medicine — make it to market.
Mom and entrepreneur Tiffany Krumins appeared on the pilot show of ABC’s "Shark Tank" and talked real-estate mogul Barbara Corcoran into investing $50,000 into the product concept.
Krumins, CEO of Ava the Elephant, created the first Ava out of sponges, fabric and a store-bought medicine dispenser. Today Ava the Elephant is available in more than 10,000 retail stores — including CVS/pharmacy, Kroger and Safeway — and has additional online representation in time for the busiest traditional cough-cold season since the 2007-2008 season. Sales of cough syrups, for example, are up 10.8%, reaching $149.1 millon for the 12 weeks ended Dec. 30, 2012, across all U.S multi-outlet retailers, according to SymphonyIRI Group.
But Krumins hasn’t stopped there. On the Feb. 8 episode of "Shark Tank," Krumins unveiled a thermometer sticker for children.
The article above is part of the DSN Category Review Series. For the complete Cough-Cold Sell-Through Report, including extensive charts, data and more analysis, click here.
Q&A: Market advice from Down Under
Originating from Australia, Swisse Wellness recently made a splash into the U.S. market with brand ambassador Nicole Kidman leading the way. DSN didn’t land an interview with Kidman, who was up for two Golden Globes last month, so we got in touch with her Swisse Wellness boss Radek Sali — CEO of the company and 2012 GQ Australia businessman of the year — for some insights into the company’s approach to the U.S. launch.
DSN: What’s the opportunity for supplements in the U.S. market?
Radek Sali: It does remind me very much of the Australian market. [The U.S. market] is ready for transition; it’s ready for a brand with personality to take a significant market share and explain to people in the mass market the benefits of nutrition. The leading player here has a 5% market share. We have a 15% market share in Australia, and that market was similarly fragmented [in the beginning]. We see an opportunity to grow the entire market.
DSN: What are the one or two categories in the United States that will serve as a point of entry for Swisse?
Sali: Two core categories for us in Australia are multivitamins and krill oil. Both of them have got unique stories. Because we see it as a premium in multivitamins [in Australia], and we see it here as a premium price point in multivitamins as well. We feel there is a broad offering here, but most of the multivitamins are primarily focused at the mid-market or the more budget-conscious. There aren’t many premium offerings. … If you look at the krill oil category, in Australia if you looked at it three years ago, it wasn’t sitting there as a top 20 [VMS] category, and now it’s the No. 1 category in Australia. Here in the United States, [krill oil] is definitely not sitting in that top 20, so we see that as an opportunity to grow the omega-3 market. Fish oil is one important part of that, but krill oil is a huge opportunity based on the fact that it’s [better absorbed] than a traditional fish oil [and] it’s a smaller tablet. … So we see that as an opportunity to grow the category as well.
For the full audio Q&A, click here.
Spring forecast: Increase in allergy symptoms
As spring approaches, people with allergies can blame global warming for some of their suffering, according to the American College of Allergy, Asthma and Immunology. Weather conditions have a significant effect on the levels of pollen and mold in the air, which affects the severity of allergies.
That suggests mold allergens could be particularly prominent this spring given the extent of drought across the United States — dry and hot weather lifts molds from the soil to be carried by the air. In addition to tree pollen, springtime mold contributes to hay fever.
As many as 9% of children suffer from such hay fever symptoms as itchy eyes, according to the Centers for Disease Control and Prevention. Homeopathic manufacturer Similasan last year identified seasonal eye allergies as a significant opportunity. At launch Similasan’s Kids Allergy Eye Relief was the only eye drop in the mass market formulated for children older than two years. "We wanted to create a solution for kids that is made with 100% natural active ingredients [and] is safe," Dan Quail, VP sales Similasan, toldDSN.With this launch, Quail suggested Similasan may have a comprehensive solution set for moms hoping to relieve symptoms of children with a cold or allergies — a homeopathic cough syrup for their throat, an ear drop solution for when a sinus infection extends into the ear cavity and now, a natural solution for itchy eyes.
During the upcoming three months, a much drier pattern is expected across the southern third of the nation, from central California to the eastern Gulf Coast.
The article above is part of the DSN Category Review Series. For the complete Homeopathy Buy-In Report, including extensive charts, data and more analysis, click here.