Independent Pharmacy Shopper Profiles and Buying Behavior Revealed in New Hamacher Research Report
HRG and HDMA conduct first in-depth study of independent pharmacy customers
Waukesha, WI — January 30, 2013 — Hamacher Resource Group, Inc. (HRG), the retail consumer healthcare industry’s premier marketing and research firm, today published a report based on new research titled, Independent Pharmacy Shoppers: Who, What, and Why? The research study was commissioned by the Healthcare Distribution Management Association (HDMA) and HDMA-member sponsors. HRG collected data and examined shopper characteristics and behaviors, the market basket, and threats and opportunities in the channel to define five distinct independent pharmacy shopper profiles. Key data from the study was presented this afternoon by HRG Vice President Dave Wendland in an HDMA-hosted webinar. The full report can be found on the HRG and HDMA websites.
The research reveals insights that will aid the entire supply chain in serving this unique set of retail outlets. Findings include:
- The average gross margin of the front-end is higher than the store average gross margin, thus a well-managed front-of-store can improve independents’ profitability.
- As the frequency of shopping trips increases, the dollar amount of OTC purchases per trip more than doubles.
- Dollar stores such as Dollar General, Family Dollar, and Dollar Tree, are emerging as a direct competitor for independent pharmacies.
- The categories pharmacists thought were most popular differed from those that shoppers said they purchased most frequently at independent pharmacies.
HRG conducted the research during the months of September, October, and November 2012 and it consisted of in-store shopper interviews, a survey of independent pharmacists, and evaluation of point-of-sale transactional-level data from independent pharmacies. The information from each section of the research was evaluated separately and then compared in order to glean new insights and information about, among other things, why customers shop at independent pharmacies, top competitors, and most significant challenges.
Dawn Vogelsang, HRG President, said, “There has never been this in-depth of a study of independent pharmacy shoppers, and the information we gathered provides intriguing revelations. We’ve served independents for more than 30 years and I believe what we’ve uncovered with the support of HDMA and the sponsors will help the industry better serve these locally-owned pillars of their communities.”
“We saw tremendous value in supporting this study,” said Perry Fri, HDMA Senior Vice President, Industry Relations, Membership & Education. “The data sheds light on opportunities for distributors and manufacturers to support their independent pharmacy customers.”
In addition to HDMA, Independent Pharmacy Shoppers: Who, What, and Why? was made possible through the sponsorship of AmerisourceBergen Corporation; Cardinal Health, Inc.; H. D. Smith; Johnson & Johnson Sales and Logistics Company; McKesson Corporation; Mutual Wholesale Drug Company; Novartis Consumer Health, Inc.; Smith Drug Company, Div. J M Smith Corporation; and Value Drug Company.
About Hamacher Resource Group
Hamacher Resource Group, Inc. (HRG) is a research, marketing, and category management firm specializing in consumer healthcare at retail. Product manufacturers, healthcare distributors, retailers, technology partners, and other organizations rely on HRG for strategic insights and creative solutions to improve the shopping experience. Founded in 1980, HRG is a WBENC-Certified Women’s Business Enterprise headquartered in Greater Milwaukee. Visit www.hamacher.com for more information.
HDMA is the national association representing primary healthcare distributors, the vital link between the nation’s pharmaceutical manufacturers and healthcare providers. Each business day, HDMA member companies ensure that nine million prescription medicines and healthcare products are delivered safely and efficiently to more than 200,000 pharmacies, hospitals, long-term care facilities, clinics and others nationwide. HDMA and its members work daily to provide value and achieve cost savings, an estimated $42 billion each year to our nation’s healthcare system. For more information, visit www.HealthcareDistribution.org.