from the desk of Colleen Volheim, category research and analysis manager
The independent pharmacy channel is unique among its competing retailers in that it doesn’t have a headquarters that can provide comprehensive performance data to help you evaluate a particular category. To gain a cumulative overview, you have to seek out a trusted partner that can provide that insight, and those reliable, unbiased resource providers are limited. With indies making up nearly 40% of the outlets in the drug store channel, this data is vital to setting growth strategies for your category or brands.
The benefit of having this data at your fingertips? Being armed with on-demand data when decision-making ensures you’re making strong choices for your brand because they are based in reality rather than supposition or on individual or
internal inclinations. Understanding what is occurring within your category in the independent channel will guide your planning for promotional spend, may indicate it’s time for a product reevaluation, or could reveal white space you could take advantage of with a line extension of your brand family. A variety of opportunities may be revealed!
HRG has that data available through its Retail IN.tell Base® service. Accessing a Category Snapshot of the category (either current or past months) of interest provides a wealth of information that gives an accurate view of how SKUs in the category are performing in independent pharmacies over the past year. In addition to seeing the products leading, driving, and declining in the category, you’re also provided new item and category trends to get a sense of shopper demand as well as current trends that are influencing consumer behavior.
If you’re interested in learning more, you can peruse the Retail IN.tell Base website and even see sample reports. Or contact us for a demonstration that is custom to your needs.