Medicare Part D outreach. Discounted generic drugs. In-store health clinics. Retailers are increasingly investing in healthcare-based initiatives to drive store traffic, enhance customer loyalty and increase sales.
And, for good reason. Pharmacy sales are outpacing consumer packaged goods sales by a 3-to-1 ratio. Health and wellness has become a powerful driver of consumer purchase and shopping behavior, and winning in this space could well determine winners overall.
Yet, despite major strides in developing healthcare marketing strategies that work (and they are working to drive share pharmacy shifts, as detailed throughout this report), few retailers and manufacturers are fully leveraging these initiatives to drive growth across the store.
This issue of Times & Trends explores current retail marketing practices and opportunities to extend these initiatives to drive brand, category and total store growth.