by Kyle Lentz, category analyst
2020 and 2021 provided unique challenges for smaller, independent pharmacies. If COVID-19 has taught us anything, it’s that a proactive approach vs. a reactive approach can have a positive impact on business.
Now, no one can predict the future, and sometimes, like in the case of unforeseen circumstances, a reactive approach is the only option. Reactionary approaches may not always have a negative impact on business, but, in the case of COVID-19, there were numerous warning signs that a disruption to the normal way of life was imminent. Proactivity was a key factor in keeping pharmacies afloat. As an essential business, being able to keep the doors open helped save lives.
Proactive approaches to consider:
- Plan for staffing needs and adjusting work schedules accordingly
- Plan for a slowdown in foot traffic by offering delivery or curbside pickup
- Adjust inventories to ensure product availability and shorten the time between out-of-stocks
- Prepare for changing needs by offering larger, more prominent selections of needed items like PPE as an example
- Use technology to communicate store hours, product purchasing options, and delivery services
- Move some key business functions, like bill paying, from an at-work to an at-home option
- Maintain the level of service customers have grown to trust
Reactive approaches may result in:
- Inconsistent store hours based on staff availability
- Delayed delivery and possible loss of business during the transition
- Product shortages and interruptions in availability
- Empty store shelves and the appearance of going out of business
- Lack of time or opportunity to update websites or capabilities
- Delayed or non-existent work from home opportunities
- Interrupted business norms resulting in a lack of trust
Of course, these recommendations are not the solution for every issue, and a reactive approach doesn’t have to be negative. Being prepared for what’s happening around you and adjusting your business needs to fit the situation, in a proactive manner, can save you time, money, and customers.
