The importance of regulatory compliance programs
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.
Opinion
Digital health consumers recasting the market
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.
Understanding Amazon’s impact on drug retailing
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.
It’s time to respect the differences of the ‘Big Three’
There are some consumers who see the drug store shopping experience as all about convenience.
How retailers can find ways to ‘out Amazon’ Amazon
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.
How AI can help identify adverse drug reactions
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.
For chain drug retailers, one size does not fit all
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.
Physical stores out of touch with modern consumers
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
Going omnichannel is transformative for Rx
the two U.S. retailers most associated with pharmacy prescription fulfillment — have injected their pharmacy
How to win back the convenience consumer
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
Maximizing real estate essential to overarching strategy
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.
Severe flu season results in out-of-stocks at retail
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.
Promo stratgegy can make, break an intro
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.
A bold new approach to mergers and acquisitions
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
Beauty, personal care trends reflect broader challenges
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.
Lines between food, health care sectors blurring
We in the food industry are well aware of the consumer turn toward healthier choices in dining.