Holiday Tips to Make Your Pharmacy Bottom Line Brighter
Enjoying bottom line success during the holidays is about more than adding the right stock to your pharmacy. It’s about building and promoting a well-planned front-end, plus an enjoyable buying experience that will stick with consumers throughout the year.
Is your community pharmacy prepared for the 2020 holiday season, or are you just getting started? While this season make look different than year’s past, it’s still important to do some front-end promoting to supplement your prescription and OTC medication revenue. These tips can help you do just that and prep you for a successful holiday season.
Create a Buying Experience – Decorate Your Storefront
Studies show that holiday decorations do indeed get customers through your front door and into your store—consumers (and gift recipients) associate gift-giving and receiving with positive experiences. And decorations are a proven way to build a memorable and more enjoyable buying experience for customers. Using holiday lights and creative decorations can differentiate your pharmacy from surrounding storefronts.
But don’t leave that buying experience at the front door. Be sure to share pictures on your social media channels and invite your customers and potential customers to start their holiday buying experience at your store.
Your Pharmacy Essentials
Ensure that you’ve beefed up your inventory with various gift cards (which can sell year-round). Look for seasonal clothing for the person who may have forgotten their mittens. Books, movies, small electronics and accessories (everyone needs a phone charger); and of course, personal care and beauty items. Plus, it wouldn’t be the 2020 holiday season without a face mask or two for sale. Think fun prints, bright colors, and even child-sized ones as well!
Keep Front-End Shelves Stocked
OTC stock: If you’ve not yet ordered your inventory for the holidays, look back to last year’s holiday season as a guide for what to get. Keep your front-end stocked with items that sell well, especially during cold and flu season. You’ll want to make sure you’ve got plenty of OTC analgesics, cold and flu products, vitamins and supplements, and the hottest natural remedies. Also, since it’s the season to overindulge a bit, you may get more demand to remedy upset stomachs and digestive systems.
Stocking Stuffers and More
In addition to your seasonal gift supply, don’t forget about the trimmings. People often forget wrapping paper, gift bags (which are popular with last-minute shoppers), ornament hooks, candies (don’t forget sugar-free options), and other stocking stuffers.
Your pharmacy needs to carry useful holiday products but not overstock shelves, so make sure to review last year’s sales trends to understand what sold well. Your pharmacy will also want to place these items strategically (e.g., putting stocking stuffers near the check-out line counters) and use shelf-talkers throughout the store to help customers locate them more easily.
Do What You Do Best
You can be a holiday hero by doing what you do best: keeping customers well. Provide tips in-store and through social media to avoid colds, flu, and other illnesses; how to reduce picking up excess germs on planes, trains, and in cars; and even promote flu shots plus the need for New Year’s physicals as insurance plans change for the new year.
Enjoying bottom line success during the holidays is about more than adding the right stock to your pharmacy. It’s about building and promoting a well-planned front-end, plus an enjoyable buying experience that will stick with consumers throughout the year. Becoming a go-to destination for holiday wellness, gift-giving, and a place to feel a little holiday warmth can be one of the most potent promoters for your pharmacy.
Not sure where to start? Through our partnership with Aspire Health, alliantRx has the solutions to help set-up and supply your pharmacy in time for the holidays. To learn more about our solutions, please connect with us.