by Cat Renwick, category analyst, and Kyle Lentz, category analyst, part of Monthly Retailer Category Tips
Set aside time to update these two departments and incorporate cross-merchandising where space allows.
Pain Relief is the number two category in community pharmacy based on unit sales and there are three new pain relief items you should add to you inventory today.1 The HRG new item review team has awarded two and three stars as indicated to these products:
| HYLAND’S LEG CRAMPS + ARNICA CAPLETS 40ct *** |
| ADVIL TARGET RELIEF M/A CREAM 2.5oz ** |
| TYLENOL EXTRA-STRENGTH EASY SWALLOW CAPLETS 24ct ** |
HRG analysts review thousands of new items every year and rate each one based on these criteria:
- Product orientation
- Earnings potential
- Product innovation
- Promotional support
- Category trends
Three-star rated items are included in all HRG planograms we provide to retailers as part of our IN.store Category Management Tools program. Two-star items are incorporated in large- and medium-sized HRG planograms.
As detailed in Food Business News, “Increased demand for hydration solutions has helped
expand the global electrolyte hydration drinks market to a $35.2 billion valuation in 2023, with a growth forecast of $58.97 billion by 2032, according to Precedence Research.”2 In the weight management & nutritional foods category, the oral rehydration category has had an increase in sales in independent pharmacy boosted by brands like Biolyte and Liquid IV.3 Both brands introduced multiple new SKUs in 2024, including adding flavors. Take advantage of consumer demand and let your shoppers know that even if you don’t carry a large number of these items in store, that you can get them next day from your wholesaler. Include this message on your website and social media sites in addition to having signs within the department.
Expand customers’ basket value by cross-merchandising complementary products into different departments. Not only is this a good year-round strategy, it can be especially helpful if you have out-of-stock situations and need to fill some holes on your shelves quickly. Check out our ongoing series of ideas for cross-merchandising on our website. Here are links to the infographics for pain relief and weight management & nutritional foods.
1 Based on HRG proprietary PAC™ data for 52-weeks ending 6/30/24
2 https://www.foodbusinessnews.net/articles/25842-hydration-innovation-on-the-rise
3 HRG proprietary PAC™ data for 52-weeks ending 7/31/24