Having profit from OTC drugs & other pharmacy items

Having profit from OTC drugs & other pharmacy items

Having profit from OTC drugs & other pharmacy items 1201 631 Pharmacy2020

Medicines continue to be a vital revenue, but they can not ensure your pharmacy’s growth and sustainability. Maximizing the sales of non-pharmaceutical products can. Here’s a what-to-do-list before you start filling your shelves:

Do market research. Do not rely on your instinct or third-party information on whether a product is selling or not. The right thing to do is to rely on surveys or run your own market research on the products that are popular in your community.

Invest in product placement. Make use of visual merchandising and product placement techniques, facilitate your customers to choose and encourage them to spend more. Track down which product categories sell more than others and focus on them to boost sales.

Train your staff. Staff is of major importance in every kind of business, let alone for a pharmacy that relies on personal relations and the building of trust with its patients and clients. Trained employees must remember their clients’ preferences, must be able to suggest the right product or motivate customers to purchase additional products. Suggesting, upselling and bundling products together, help shoppers to consider more buys and result in more earnings per sale for your pharmacy.

Tip: Walk around your pharmacy. Are you satisfied with what you see? Do you like the set-up, the decoration, the colors, the lighting? Can you easily find the product you are looking for? Is the staff friendly and helpful? If yes, you are on the glory road.