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Walmart Sees 30M TAM

Best Buy, Walmart Jump Into OTC Hearing Aids as FDA Rule Kicks In

Companies wasted no time jumping on the new consumer hearing aid category Monday, the date the Food and Drug Administration’s rule establishing over-the-counter (OTC) hearing aids as a regulatory category took effect. Best Buy and Walmart, looking to grow their health and wellness businesses, outlined their hearing aid efforts in Monday posts.

Best Buy is offering OTC hearing aids online and plans to be in about 300 stores by the end of October, it said Monday. Devices range $200-$3,000 per pair. Best Buy’s hearing device assortment includes nearly 20 OTC hearing aids, personal sound amplification products (PSAPs), TV amplifiers and hearing accessories “from some of the most trusted brands in the space,” it said.

Best Buy Chief Merchandising Officer Jason Bonfig referenced the retailer’s “new in-store hearing experience and expanded selection” of OTC hearing aids and other hearing devices, saying it’s making the process of getting a hearing device “more approachable and affordable.” It’s helping customers “find the hearing solution that is right for them by offering best-in-class options at prices that are often significantly less than they might have paid traditionally.”

Before consumers buy a hearing device, Best Buy encourages them to fill out an online hearing assessment tool, developed by hearX, that’s designed to help them identify their level of hearing loss and help determine which device best fits their needs, it said. It breaks out levels of hearing loss by none, mild to moderate and severe. For consumers with no hearing loss, Best Buy says customers can still protect their hearing with a PSAP. A click through on the mild category takes shoppers to wireless headphones, neck speakers, earphones, the Lucid Enhance hearing amplifier, Westone DefendEar protection for shooters, and Sennheiser RS 175 wireless headphones, among others.

In stores, customers can get assistance from Best Buy staffers, who will be trained on topics including ear anatomy, stages of hearing loss, general fitting techniques and the features of different brands. Training is done with “expert partners” in the hearing device category, the retailer said.

The in-store selection at Best Buy includes Sony CRE-C10s ($999); Lucid Hearing OTC Engage ($999), fio ($1,699) and Enlite ($299) hearing aids; Jabra Enhance Plus ($799); Go Hearing Go Prime ($299); Lexie B2 OTC Hearing Aids Powered by Bose ($999); Eargo 6 ($2,950); Ear Tech Tweak Enhance personal sound amplifier ($799); Nuheara IQBuds2 Max personal amplifier ($499); and Williams Sound Pocketalker Ultra PKT D1 personal amplifier ($155).

Walmart is selling hearing aids to customers 18 and older with “perceived mild-to-moderate hearing loss without a medical exam or fitting adjustment needed by an audiologist," said David Reitnauer, vice president-health and wellness-optical and hearing. Walmart sees a total available market of 30 million American adults who could benefit from hearing aids, Reitnauer wrote, and it's offering resources online to steer customers to the right device. Hearing aids at Walmart range $199-$999 per pair.

Walmart Health Centers offer hearing tests via qualified medical professionals that can help assess potential hearing loss and rule out underlying medical conditions to determine “if a hearing aid is right for them,” Reitnauer said. Hearing aids are available on Walmart.com and at Walmart Vision Centers in Colorado, Missouri, Ohio, Pennsylvania, Tennessee and Texas, plus 474 Sam's Club Hearing Aid Center locations. OTC hearing aids will soon be available at additional Walmart Vision Centers nationwide, the retailer said.

Jabra announced Monday OTC availability of its Enhance Plus earbuds, which have been selling through parent company GN’s network of ReSound and Beltone hearing care partners. The hearables can be bought in Best Buy stores or online, but customers “looking for more support” can go to certified Jabra Enhance Centers for consultation and advice, the company said. "The new OTC hearing aid regulation represents a significant opportunity to improve hearing health for millions experiencing mild to moderate hearing loss," said Calum MacDougall, Jabra senior vice president.