Tom Vierhile is the director of innovation insights for Datamonitor. He has more than 20 years of experience in consumer packaged goods reporting and analysis, much of that with Datamonitor’s product launch analytics database of new products. He is an internationally recognized expert on new product marketing and is often quoted in publications such as USA Today. Mr. Vierhile has authored many articles on new products for a variety of trade publications. He has a bachelor’s degree in marketing from St. Bonaventure University and an MBA from the State University of New York at Buffalo.
 
Health E-Insights: What is the biggest challenge facing business leaders today?
 
Mr. Vierhile: There is a tremendous amount of consumer uncertainty in the marketplace, which makes it very difficult to plan or project anything very far into the future. A quick run-up in gasoline prices, for example, could sink the economy back into a recession. And job security today is not nearly what it used to be, so consumers are much more driven to discount and deal shopping than they ever were before. Businesses have always had to deal with this issue, but our times are much more volatile than they have been in the past since consumers are much more responsible for their own financial well-being than they ever were before. The shaky political environment isn’t helping things either.
 
Health E-Insights: What’s trending in the supplement industry?
 
Mr. Vierhile: Different delivery formats are probably the hottest trend in supplements right now, including gummy-type products as well as shot-type products. The former suggests that manufacturers are reaching out to kids and families more than in the past. And the latter suggests influences from the energy drink market are having a definite impact on vitamins and supplements since consumers have really embraced the shot-type concept. Condition-specific products are another trend; not necessarily a new one, but a trend that is gaining momentum. Products geared around the heart-health opportunity (omega 3 products, for example), sleep, energy and digestion (including probiotics) are trending the strongest right now.
 
Health E-Insights: Do you think there will be major industry changes prior to the Presidential election?
 
Mr. Vierhile: Given the lead-time the industry requires to adapt to legislative changes, I don’t think that we are going to see any major changes in the run-up to the Presidential election. That’s not to say that there will not be major changes after the election.  But we’ll just have to see on that.
 
Health E-Insights: What do you consider your greatest business achievement?
 
Mr. Vierhile: My greatest business achievement would be completing my MBA while working full time, and having a family. This sort of exercise teaches you extreme time management skills. Another highlight was when I was able to speak at two different industry events, on two different continents, in one 24-hour period. That doesn’t happen every day.
 
Health E-Insights: How do you evaluate success?
 
Mr. Vierhile: Success varies by the individual, but is based on how you measure up compared to expectations. Therefore, the setting of expectations is probably the most important part of the process. In general, the best advice I have heard on the subject is to not over promise and under deliver. The opposite approach tends to work out best.
 
Health E-Insights: What makes you laugh?
 
Mr. Vierhile: Comic relief is provided each fall by my beloved Buffalo Bills as they attempt to play ‘professional’ football. In the absence of this, “Seinfeld” reruns usually do the trick—especially any episodes involving George Costanza.
 
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