creating greater and greater financial challenges for retail pharmacies. In the second quarter of 2018, DIR accounted for 1.13% of sales and, year-to-date, it is trending at 1% of sales. For the same period last year, DIR was running at 0.9% of sales. On top of
Last month investment firm Piper Jaffray projected Amazon will more than triple its advertising business to some $16 billion by 2021, largely based on the retail giant’s position as “the world’s largest product search engine.
those born between 1981 and 1997 — will represent the largest and most influential adult generational cohort in America, with a profound opportunity to realign the nation’s priorities as they enter their prime years and influence the shape of the future health care landscape. Millennials
The high value of pharmaceutical shipments has traditionally meant that all parties in the chain drug industry were primarily concerned with quality. They needed a reliable, transparent solution. Given that shipping represented a tiny percentage of drug costs, price was a lesser concern.
The who, why, what, where and how of health care retail are changing faster and more dramatically than for perhaps any segment of consumer packaged goods.
Retail in the future will look nothing like what we see today. A new role for physical retailers is long overdue, and only a few have satisfied the need for change.
which is not news. It is up to you to determine how you will service their evolved expectations. They engage with their social communities online, complete tasks on the go and transact all via their mobile
There’s never been a more critical time to start turning your shoppers into pharmacy customers. With the 900-pound gorilla, Amazon.
A new product innovation with a large promotional spend does not automatically equal success in the retail marketplace.
With sweeping changes occurring within the pharmacy and health care business landscape, it’s easy to lose focus on the front end of the store. However, efforts to create a healthy front end should not be ignored. In fact, now more than ever, it should be a top priority. Why? Because the U.S.
I was in Trader Joe’s for the first time in a while. I don’t usually shop there because there’s not a store close to me. What struck me was how the brand story has remained so relevant, so fresh, in spite of much new competition. It also struck me that in a
Pricing pressures have become the new normal for the pharmaceutical industry. Three main factors are forcing down drug prices: government pressure, patent losses and the rise of generics. In developed markets, governments account for nearly 76% of spending on hospitals and other medical services.
Consumers facing complex health conditions that are treated by specialty medications don’t need more ads.
There is no question that consumer shopping behavior is forcing brick-and-mortar retailers, e-commerce providers and consumer packaged goods companies to look for new growth opportunities and ways of providing differentiated shopping and brand experiences.
The NACDS Retail Advisory Board’s Market Immersion series resembles a microcosm of the NACDS Total Store Expo, in that the topics discussed emphasize the interrelationships of virtually every aspect of the business.
I grew up in a very small town, Yardley, Pa., in the 1970s. Main Street, “downtown,” had only one pizza place (Vince’s), one convenience store (WaWa) and no movie theater. We did, however, have two drug stores less than 150 yards from each other. In the 20 years that I lived in
