Pharmacy Daily | Merchandise

In order to begin the process of buying for your retail pharmacy, we must have a marketing plan established that gives the direction for what kind of customer we want to attract and service. With these basic parameters established the next most important guideline that needs to be set is the dollar value of stock that we need to carry in the store. Next, break down the sales by category starting with the essential schedule medicines working through to the minor categories. Overlay the best sellers in the categories and then we are ready to start. Bannered stores generally will have the marketing approach for your store, it is then up to you to implement the guidelines and supplier deals, to enable the compliance of product ranging and consumer expectation to be met. Sounds simple enough but the challenge is to communicate and execute these plans and then have a continued review process that measures the outcomes. Your point of sale system is your best friend providing you historical information on sales and trends that when interpreted correctly will provide the edge for your business to really focus on your customers requirements and potential. Happy retailing! This week’s contributor is Frances Palmer, Merchandise Manager of PharmaSave Australia Pty Ltd.

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The above article was sent to subscribers in Pharmacy Daily's issue from 11 Jul 11
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