Consumer health retailers are continuously innovating in an effort to adapt to new regulatory policies, demographic preferences, technological developments and public health influences. Health and wellness trends are holding a great deal of sway over everything from store formats to marketing strategies. Younger consumers seek more internet and mobile shopping options, while ageing ones require different services. Companies are finding creative ways to personalise the retailing experience.
Regulatory requirements and increased consolidation give pharmacy retailers a large advantage in selling consumer health items, but as government bodies relax restrictions, consumers are becoming more open to other options. Direct selling is particularly successful in many emerging markets, while internet sales are popular for sports nutrition.
In an effort to remain competitive, store-based retailers are expanding their reach through internet and mobile commerce sites, and even direct selling operations.
Regulation dictates both the types of retailers that can sell certain products and how those items must be stored and dispensed. In addition, in their role as healthcare providers, pharmacists must factor in the impact that government reimbursements and service plans have on their business.
Companies are aiming to appeal to younger, tech-savvy shoppers by incorporating mobile technology and social media into the retailing experience. Older consumers, meanwhile, require different adaptations, such as delivery services. Individuals in rural areas have similar access concerns.
High prevalence of chronic diseases and government educational campaigns reinforce the importance of preventive health. Retailers are responding with new product lines, store formats, retail clinic services and other lifestyle oriented approaches.
Convenient shopping options, mobile apps, loyalty programmes, pharmacist chat functions and other marketing tactics aim to engage consumers directly.
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