How you utilise shelf space in your pharmacy is important. By stocking smartly, you can transform your ROI. Shelving premium products alongside everyday essentials, is an ideal balance. Every pharmacy is different, and you know your customers and their purchasing habits best, so demonstrate this with your range of products and brands. Here are some of the benefits…
A comprehensive solution for customers
Be a one-stop shop for local residents. If they are in-store looking for a particular product, they are bound to need associated products that could also be useful for their healthcare or medical needs. Taking pregnancy products as an example, if a customer is looking to get pregnant, they may be interested in ovulation kits, pregnancy tests and folic acid supplements. They may need all of these products during their pregnancy journey and so it is ideal for you to stock them all, offering a full solution for them. The same can be said for many over-the-counter (OTC) product categories such as cold and flu products, as many customers will likely buy more than one product there and then if they need it.
Bundle deal opportunities
The more specific product ranges you have, the more flexibility you have on hosting relevant promotion deals such as ‘Buy two products get one free’, ‘Buy three products for £x’. This drives more of an incentive for customers to buy more of the range and gives you more opportunities to upsell. This is great for your ROI, especially if you have worked with your suppliers to buy in at a cost-efficient price.
Be the go-to pharmacy
Get your pharmacy recognised for being the place that will have the healthcare products that people need. There is nothing worse for customers turning up to buy a product, for it to be out of stock. If it’s in your control, make sure to steadily re-stock commonly purchased products and its associated range. Gaining a reputation for having a good product range will go a long way in earning more customer loyalty and repeat visits to your pharmacy.