Updated: Jun 16, 2019
The talk at the Access Conference in May was about a number of challenges affecting all pharmacies.
The Chemist Warehouse, Bargain Chemist, Countdown pharmacies and Zoom are examples of the new competitive environment.
Challenges & Threats
Discount activity on both retail and dispensary services
Competition from new pharmacy openings (medical centres, supermarkets and discounters)
Increasing online activity (retail and dispensary)
The continued decline of beauty sales in pharmacy
Increasing dispensary automation costs
Increasing demand on pharmacist services in pharmacies (vaccinations / sales of pharmacist-only-meds
Ongoing regulatory threats to both ownership and dispensing contracts
Our advice to members is:
Don’t compete on price with the discounters
Understand your position in the marketplace – be the convenient health expert
The most popular “product” in your pharmacy is the service from your pharmacist
Improve “customer experience” by making shopping easier
Don’t stock every product – you need to “curate your range”
Clear point of sale ticketing and displays need to show the customer “why” they should buy
Use digital marketing tools to communicate with your customers
Don’t try to do everything yourself – get experts in to help your business to change
We are helping our 35 Pharmacy Co-op members to focus on their retail health business as an overall business improvement strategy.
Our goal for every member is: more sales with less stock!
Contact us if you would like to discuss how we can help your pharmacy to improve your retail results.