5 tips to increase the profitability of your pharmacy

There is no escape: consumers are changing and, in times of crisis, they lose much of the excitement of buying in moments of bonanza. They resist opening their wallets, discarding what they consider superfluous to purchase only what is really needed. In this scenario, pharmacies need to be aware of this behavior and quickly find the best strategy to take control of the situation and to increase profitability, ensuring relevance in the market and the fidelity of their customers to raise the average ticket in stores. 

To adapt to new habits of shoppers, just following the traditional franchising retail playbook is not enough anymore. We need to do more and better. Knowing them well is a great start and, more importantly, understanding what brings them to your establishment. Also, embrace technology, transforming sale in a shopping experience, having objective and personalized communication with the target audience are also important factors to consider when aiming growth. Without, of course, neglecting service.

To heat consumption and help increase the average ticket, we prepared a series of successful tips to win over consumers. Check it out! 

# Increase your product mix 

In 2015, the pharmacy chains earned about R$ 8.24 billion in total sales in the first quarter, a value 10.42% higher than the same period in 2014, according to data released by the Brazilian Association of Pharmacies and Drugstores Networks (Abrafarma).

The result was especially boosted by items of the “no drugs” category, representing 34.82% of total sales, which includes toiletries, cosmetics, perfume, shampoo, tampons, sweeteners, hair dye, preservatives and sunscreens, among others.

# Get exclusive partners

Earlier this year, Natura took another step to explore its growth in retail. In partnership with a large pharmacy chain, it announced that the product line Sou, of body and hair care, can now be found in all establishments of the chain stores in Brazil.

With the same prices of the already established catalogs, the novelty is part of the cosmetics manufacturer’s strategy to expand access to its brand for other channels, including direct sales. The joint action also seeks to circumvent one of the Achilles’ heels of the company: the emergence of several establishments that today sell their items for prompt delivery. For the network, this is the chance to sell products of a devoted brand exclusively, adding value to the shelves. 

# Keep the quality of your service

There is no doubt that the quality of care is one of the main attractions in an establishment for the consumer. Thus, select well your employees, keeping them constantly updated and trained.

And don’t forget to continually assess the levels of satisfaction and fidelity of your customers, using the results of this assessment in each franchising to align the profile and position of your team to the expectations of those who come to the store. 

# Look into the future

The Brazilian retailer is still learning how to deal with the capabilities of Big Data, but abroad retailers are already exploring the tool in innovative ways. In large shopping centers of the United States and Europe, the consumers receive messages by phone with promotions and trends information during the purchase process, and they can be stimulated in decision-making. For this to be possible in Brazil, the franchising needs to invest in technology.

Using tools such as applications and QR codes, customers can get access to more detailed product information, such as stories of those who have used it, price comparisons and expert reviews. How about offering a Wi-Fi network in your stores? 

# Create digital habits

Being present in the digital world, and especially on social networks, is a great strategy to win over new customers. As a global trend, being relevant on the Internet – delivering content, convenience and interactivity – has become paramount in an era of people highly connected with their smartphones or tablets.

To help to improve the management of your network of pharmacies, Linx develops solutions that facilitate business management in order to meet legal compliances and an increasingly demanding consumer, always with focus on your profitability and growth.Talk to us!