by Tara Kaifesh, category analyst, for the Resolutions for Independent Pharmacies blog series
Knowing who your shoppers are is important to your store’s success. When you understand those shopping at your pharmacy, you can provide them a better shopping experience by stocking the items they’ll be likely to purchase. Catering to your customers’ buying habits will build their loyalty to you as well as boost your sales.
Assuming that you are meeting the demand of your current customer base, how do you go about attracting new customers? One aspect of understanding who your potential shoppers are is learning their demographics: age, ethnicity, income level, where they reside, and more.
Review the demographics around a radius you feel appropriate for your store to narrow down who your potential customer could be. They may not be shopping at your store because you are not yet catering to them. Here are a few ideas to consider depending on what your demographic analysis uncovers:
- Large 0-4 age group – Create an appropriate size Baby Care department including diapers and formula
- Large group of adults age 21-44 – Ensure your front-end assortment includes the variety of products that can address sports injuries and related interests, such as, Health Supports, First Aid, Pain Relief, Weight Management and Nutritional Foods, Foot Care, etc.
- Sizable adults 50+ age group – If you don’t already have these departments, think about how you could make space for them: Nutritional Foods, Incontinence, Support Hosiery, Daily Living and Diagnostics.
- Significant 65+ age group – Stock Home Health Care items. We have a blog series to help you determine what to carry in store.
- High population of a particular ethnic group – Carry products that appeal to that specific group. For instance, some brands develop products to target specific races. Your wholesaler may be able to provide some insight into which brands do well among different ethnic groups.
- Lower estimated household income – These consumers may not have as much disposable income, so avoid carrying high-end gifts.
- In or near a college or university – Take advantage of the student population and attract them by advertising specials that appeal to them. Stock products that cater to that age group.
- Located near long-term care facilities – Try to partner with long-term care facilities to not only fill prescriptions for the patients there, but also OTCs that address their patients’ conditions, symptoms, or other needs. Consider offering a delivery service.
Depending on your location and surrounding community, when you look at enhancing your assortment to draw in new customers, think about the future of your store. It’s in your best interest to direct some of your effort to attract younger consumers. Building on your customer base with shoppers who can become long-term patrons ensures stability for your store for years to come.
Remember, you won’t get many chances when new customers come into your store. If they don’t see what they are looking for, they may not come back. If you don’t have much space for additional departments or product, start by carrying the Never Outs® for the category. Interact with new shoppers and find out what they are looking for and if you don’t have it on hand, in many cases your wholesaler can deliver it to you the next day. You can let them know you’re happy to add items that they are interested in. If you need help getting the demographic information or analyzing it, contact us. Our category analysts are here to help you.