Retail Healthcare Marketinging
With pharmacy sales growing at more than three times the rate of CPG products, and projections indicating continued high growth (6-9%)1for the next several years, it is no surprise that retailers are increasingly investing in marketing and promotional initiatives to capture a greater share of pharmacy traffic and sales.
April 2, 2007
With pharmacy sales growing at more than three times the rate of CPG products, and projections indicating continued high growth (6-9%)1for the next several years, it is no surprise that retailers are increasingly investing in marketing and promotional initiatives to capture a greater share of pharmacy traffic and sales.
Drug innovation, an aging population, and new demand resulting from Medicare Part D (which provided prescription insurance access to millions of previously uninsured seniors) have all contributed to sustained strong pharmacy growth rates.
Many retailers have successfully tapped into this trend through pharmacy-based marketing initiatives that have moved the needle on pharmacy share.
Few retailers, however, have extended this success throughout the store by linking the pharmacy with other healthcare and health-oriented food and beverage categories.
This report highlights high-level opportunities to grow brand, category and total store sales through pharmacy-based initiatives.
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