On this episode of The Retail Pilot podcast, Ken speaks with Nick Green, Co-Founder & CEO of Thrive Market, a membership-based online platform that makes healthy and sustainable living easy and affordable to all. Nick launched Thrive 10 years ago shortly after graduating from Harvard.

The business has also been recognized as a leader in regenerative agriculture, carbon-neutral shipping, and Zero Waste operations, and in 2020 became the nation’s largest grocer to receive B Corp Certification.

Outside of Thrive Market, Nick lives in Venice, CA with his wife, Carolina, and their three children.

Key Points

About Thrive Market: An online retailer offering natural and organic products at affordable prices through a membership model1

Mission: Making healthy and sustainable living easy, affordable, and accessible to all1

Business Model: $60 annual membership fee

• Curated assortment of natural and organic products
• AI-powered personalization
• Zero-waste fulfillment and carbon-neutral shipping

Company Stats

• Founded: 10 years ago
• Members: 1.5 million
• Annual Sales: Over half a billion dollars
• Profitability: Now profitable and cash flow positive1

Nick Green's Background

• Grew up in Minneapolis with a health-conscious mother
• Previously founded and sold an education company
• Met co-founder Gunnar, who grew up on a hippie commune

Business Strategy

• Product Mix: 90% third-party brands
• 10% Thrive Market branded products (generating 25% of sales)
• Private Label Strategy: Focus on filling gaps in the catalog rather than copying existing products1
• Margin Profile: Strong margins on both private label and third-party products
• Sustainability: Zero-waste fulfillment centers, carbon-neutral shipping

Marketing Strategy

• Referrals: 25% of new members come from existing member referrals
• Influencer Marketing: Unique approach to partnerships
• Digital Marketing: Leveraging technology for personalized experiences

Future Outlook

• Focus on expanding online presence rather than immediate brick-and-mortar plans
• Potential for future physical stores, but not a current priority
• Continued investment in AI and personalization technologies

Competitive Advantage

• Purpose-built for healthy living
• Membership model driving profitability and customer behavior
• Technology-first approach to e-commerce
• Strong focus on sustainability and ethical supply chains