Why Pharmacies Must Start Listening Their Visitor Data

In recent years, the profit margins of prescription medicines across the industry have dropped, while the margin for OTCs remains strong and consistent.

These days, ‘OTCs (over the counter drugs)’ is the number one reason why people visit a pharmacy. But did you know that prescription medicines are an important source of revenue?  They are just as important as selling the front end products and prescribed medications.

So, how do you plan on increasing the sales of prescription medicines? By using the pharma retail store analytics or by relying on other legacy solutions.

Regardless of the solution you choose, you do not get any concrete data that can help you minimize the queues, improve marketing campaigns and increase sales. But fortunately, the pharmacies are in a physical space, and you can always rely on visitor analytics to see what is going in the business.

Here is how visitor analytics help the pharmacies to take their business to next levels.

Identify and Eliminate Queues in Real Time

Pharmacies have a dynamic environment. There are some areas where you will receive less foot counts than others, while others simply have a queue around them.

For example- the areas that stand next to the prescription counter and aisles that lead to the checkout register tend to have more queues. This is when the Queue Management solution comes into play.

You can identify the queue in real time, rotate the products and cash registers or POS machines in and out of the area and eliminate them seamlessly.

Follow The Merchandising and Inventory Effectiveness

With visitor analytics, you can figure out the conversion rate for each spot and the real performance of merchandise.

You can monitor the repeat visits for a given product within the pool of customers or on an individual level. Moreover, you can also choose prescriptions according to Mood, Age, and Gender.

It also allows you to predict the demand and supply by simply integrating the historical sales with the current foot traffic (Visits per day, unique visitors, new v/s old visitors).

Manage and Optimize the Staffing

With the visitor analytics, you can predict the traffic and create a staff schedule around it. Build a store environment where each team member can offer the best service to each visitor and increase sales.

It helps to identify when you need to break out a specific staffing plan or when to decrease the staff on a specific store area.

Compare and Improve Marketing Campaign Effectiveness

Have you ever wondered whether your marketing campaigns are driving visitors or not.

With the visitor analytics solution, you can check how your brochures in the front of stores, handouts and other marketing techniques are performing.

Monitor the amount of foot traffic you have. If you have high foot traffic, it certainly means that the marketing campaigns are working in your favor or else, you need to improve it.

You can also check the conversion rate and measure- whether you are actually converting the visitors or losing them due to lack of products, staff or service.

Boost Your Conversion Rate

While the basic principles of the Pharmacy industry are unlikely to change any time soon, the visitor analytics will yield you a great deal of actionable information.

There are a number of leading door counter device & visitor counting solutions that optimize your traffic, staffing, and marketing strategies, and help you to increase conversion rates at your pharma stores. Moreover, Pharmacies is much more than a place to fill in the prescriptions. It has all the supplements, medicines, convenience products, and other useful items.

Once you are aware of the foot traffic at each section of your store, you can work on the lower traffic ones and increase the sales.

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