Private label products at your pharmacy

Private label products at your pharmacy 1201 631 Pharmacy2020

Consumers’ preference to private label products has been a clear trend in recent years, although there are still people who mistakenly believe that these products are of inferior quality, maybe because they cost less than branded ones.

From the pharmacists’ point of view, private label products offer a higher profit margin, even though branded products are more expensive. Here are a few ideas on how to promote private label products for the mutual benefit of your customers and your pharmacy.

Promote private label sales in relation with your loyalty program. Offer extra points for private label product purchase. This way, you prompt more of your customers to subscribe in your loyalty program and, at the same time, you boost private label products’ sales.

Highlight the price difference. Consumers do not always notice the price difference between branded goods and unbranded ones. Point out that private label products are second to none and persuade your clientele to opt for them.

Product placement. Product placement is essential in either boosting or dumping any product’s sales curve. Products not widely advertised come second to consumers’ preferences and must be placed correctly in order to attract their attention.

Educate and guide your clientele. Customers trust you, because you are the one who cares for their health. Your opinion about a product is of crucial importance to them. Explain to them that private label products come cheaper and are as good as branded ones. At the end of the day it is a win-win situation for you and them.