The supplement franchise had a tough year and is looking to a Super Bowl ad to get them back in the game.
With a 58 percent decrease in stock price and a $2.25 million fine for selling illegal dietary supplements this year, GNC is going to need to turn things around in 2017. According to a recent Fox Business article, the company’s comeback strategy includes its first ever Super Bowl ad and store makeovers.
Although Super Bowl ads come at a high price, the company believes it will be well worth the cost and that it is the “best way to drive returns.” By spending possibly more than $5 million, it would be the highest asking price for a 30-second ad spot during the Super Bowl.
Starting on Dec. 28, GNC will close the doors to 4,000 of its stores in order to give them makeovers. New stores will include lower prices, fresh products and new cash-back rewards. As competition in the market heats up, a more personalized approach to nutrition is what consumers are demanding.
“GNC is really not well positioned to cater to future generations of consumers including millennials,” Walter Faulstroh, CEO and co-founder of HUM Nutrition, a Los-Angeles based-startup that specializes in personalizing nutrition supplements, told FOXBusiness.com.
Click here to read the full story.