Trends and predictions for retail pharmacies in 2022
Here’s the big trends I’ve seen in retail pharmacy in 2021 along with my predictions for the year ahead:
Trends | Predictions |
1. Face mask sales are booming | These will continue to be a top-seller and you should ensure that re-usable masks are in a hot-spot near your counter |
2. Vaccinations drive pharmacy traffic | Pharmacies providing this service to their community will grow their market-share |
3. Cosmetics and beauty sales declined by -20% | Most pharmacies will remove the large franchise cosmetics stands (e.g. Revlon and L’Oreal) if they haven’t already |
4. Health supplements sales have become more specialised | Pharmacies that support the premium / specialty brands with trained staff will continue to grow their sales as commodity brands decline in pharmacy |
5. Services in pharmacy are growing | Ear Piercing is the most frequently searched pharmacy service – and it is likely that Passport Photos will bounce back in 2022 |
6. The most successful pharmacies are keeping their retail price margins high (around 50% Gross Margin) | Pharmacies that introduce a discounting policy to try to compete with Chemist Warehouse will struggle to be profitable |
7. The most critical convenience-factor for retail success is convenient car-parking | Central-city pharmacies will continue to decline |
8. The most critical loyalty-factor for retail success is highly engaged customer service staff | Pharmacies with a skilled staff member to triage customers at their prescription counter will grow their customer-base |
9. Online sales are small but growing | For most pharmacies a full e-commerce offering is not cost-effective, but selling a selected range of key products online will become more important |
10. Digital communications are the new-normal | Customers expect script reminders, online repeat requests, online booking tools and regular emails from their pharmacy |
Here are links to a selection of my 10 most popular articles from the last 12 months to provide motivation and/or inspiration.
What's your plan?
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Download PDF • 166KB
Your Customer Loyalty Toolkit
.pdf
Download PDF • 129KB
Improve Your Return On Investment
.pdf
Download PDF • 141KB
Let's Get Digital
.pdf
Download PDF • 118KB
10 Marketing Rules For Growth
.pdf
Download PDF • 142KB
The data doesn't lie
.pdf
Download PDF • 134KB
Less is more
.pdf
Download PDF • 238KB
The right people
.pdf
Download PDF • 110KB
Your professional image
.pdf
Download PDF • 373KB
Good Measurement is Vital
.pdf
Download PDF • 122KB
Get in touch with any questions, and I look forward to visiting your pharmacy in 2022.
Happy New Year
John Saywell
Ph: 0274 359848