The upcoming 2020 election has many within the supplement sector wondering how the outcome will shape the industry’s future. The biggest question of all is how a new FDA commissioner would approach dietary supplements.
Former executive with the Council of Responsible Nutrition (CRN) recently shared his belief that there won’t be a major shift in policies affecting the industry if former Vice President Joe Biden defeats President Donald Trump – unless a major event occurs. A major outbreak like the melamine scandal involving contaminated pet food would be the thing to create greater regulation.
John Troup, Ph.D. vice president of scientific affairs and dietary supplements with the Consumer Healthcare Products Association (CHPA), feels that the dietary supplement industry is at a turning point regardless of how the presidential and congressional races turn out.
“The 25th anniversary of DSHEA has come and gone, but the momentum behind modernization is ongoing and must continue into the next term—whether it’s a Trump or Biden presidency. Ensuring the country has a modernized regulatory system overseeing the rapidly expanding dietary supplement category is an important public health issue that transcends political parties and elections.”
Troupe went on to say that the current concerns are less about the election per se and more about sustaining momentum behind dietary supplement regulatory and legislative efforts. Even so, the industry’s greatest supporters in Congress are retired (Sen. Orrin Hatch, Republican from Utah and Sen. Tom Harkin, Democrat from Iowa). While there are some great advocates – Sens. Sinema and Scott – that understand the issues dietary supplements are facing, the loss of Sens. Hatch and Harkin is very noticeable.
“However, you can’t replace Sens. Harkin and Hatch, who both have been chair of the committee of jurisdiction and directly placed in a position to influence policy on dietary supplements,” says Patricia Knight, senior political advisor to the United Natural Products Alliance (UNPA) and former chief of staff to Hatch, in an interview.
The Merchant Services Issue
One of the biggest issues felt across the sector is finding a provider willing to work with the supplement industry. Without a merchant account, these merchants are unable to handle customers transactions and offer convenient and the latest payment processing options. Traditional providers are simply unwilling to handle the many risks and challenges, such as high chargeback rates.
If your supplement company is struggling with this problem, consider what a trial offer merchant account can offer. With a provider like EMerchantBroker, you can quickly and easily secure the merchant services you need to operate smoothly, despite being labeled “high risk”.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated trial offer merchant account processor in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.