The National Association of Chain Drug Stores Annual Meeting last month in Palm Beach, Fla., unfolded against a backdrop of rapid-fire change in community pharmacy and the broader retailing and health care sectors.
In the current regulatory environment, it is imperative that a pharmacy maintain a robust regulatory compliance program in order to avoid the potentially significant legal and regulatory pitfalls.
As of 2017, 45% of the global population was using the internet, and it is projected that 76% will have access by 2030, according to Euromonitor International. With more connectivity, a new type of connected consumer is rising: the digital health consumer.
Who knew that the ancient Greek philosopher Heraclitus would sum up Amazon.com’s influence on our modern health care industry so well? “The only constant is change,” he is said to have uttered, along with “You cannot step twice into the same river.
There are some consumers who see the drug store shopping experience as all about convenience.
At the turn of the millennium, the retail industry was aglow with technological and operational possibilities. The internet was seen as a platform for both selling things and making merchandising and fulfillment processes more efficient.
Medical treatments are prescribed to alleviate illness, but sometimes their effects can be harmful. A prescribed treatment can lead to an unexpected adverse drug reaction (ADR), causing fresh or further harm.
The past year has seen seismic changes in the global wellness market. When looking at retail as a whole, the industry has been upended by the rise of voice-enabled technology, an earnest focus on health and wellness, and unexpected partnerships that prove that complacency is no longer an option.
Recently, I was sitting in a meeting with clients from a large consumer packaged goods company who were discussing amongst themselves how the company’s CMO had added an extraordinary number of people with digital and omnichannel expertise to his team, while they, the customer team leads, had a hirin
the two U.S. retailers most associated with pharmacy prescription fulfillment — have injected their pharmacy
Drug stores have sustained a dip in trips in recent years, down nearly 15% from 2015 to 2017, according to IRI. This loss of trips is challenging for the drug class of trade, as stores lose the foot traffic they need to accelerate growth. Our data and analytics indicate that trips in drug are down
Real estate has always been critical to the strategies of chain drug stores, but given the dynamics in the sector today, one could make a strong argument for the necessity of maximizing real estate down to the last square foot.
This year’s flu season has been particularly severe, with the Centers for Disease Control and Prevention reporting the highest rate of flu-like illnesses since 2009. It also reported the highest flu-hospitalization rate since 2010, when it started keeping records.
For new products, clinching sales hinges on consumer awareness of the brand and its benefits. With so many marketing channels as possible avenues of promotion, brand marketers must optimize budget dollars to reach their target market by choosing the right message for each one they utilize.
measured in terms of number of deals, size of deals, or both — it may be best remembered as the year that a bold new approach to M&As that we call “neumarkets” revolutionized retailing and a
More than any other consumer industry, beauty and personal care are driven by trends. New trending ingredients, formulations, colors and brands come around every season. Walk into your average drug store and you’ll see this reflected on shelves. In fact, here in the U.S.
