August 19, 2017

Produced in collaboration with Drug Store News


News, products, marketing and merchandising tips for the
front end of community pharmacies


* TIPS from NCPA's Front-End Guru, Gabe Trahan *


Don't Make Them Snicker at the Price of a Snickers

I was recently reviewing Halloween sales flyers from CVS, Rite Aid, and the Dollar Tree. (It's important to know what your competition is doing!) There is no way a community pharmacy could compete with the chains' discounted prices and retain a respectable margin. Don't give up totally on selling Halloween candy, but be prepared to give up on your profit margins when you price candy. Otherwise, you will look overpriced while solidifying the myth that everything at a community pharmacy is expensive.


It's Time to Get Off the Fidget Spinner Bandwagon

Everyone in the gift industry, at one time or another, has felt the sting of jumping on a craze a bit too late, but after careful observation, there are too many red flags signaling that fidget spinners are going the way of Friendship Bands. It is too late to jump on the fidget spinner wagon, and if you're on it, get off. Why? Knock-offs can now be easily found. A price war is brewing at the retail and wholesale level. Some schools are already banning them. And the biggest red flag? Fidget spinners are for sale in every concourse in every major airport, mostly in kiosks that could easily be selling socks in the next 24 hours.

Products on kiosks are red flags. As a gift broker told me this summer, "Beware of the hottest item; you can be sure it will be available to everyone soon." If you currently stock fidget spinners in your store, I suggest discounting them as 'buy one, get the second at half price" and cancel all reorders. Take it from a guy who was stuck with more 100 E.T. dolls and an embarrassing number of Smurfs. The pendulum for fidget spinners is on the down swing.


Timely Reminders

  • Are your Labor Day weekend hours posted on your entrance door, pharmacy counter(s), website, social media accounts, IVR, etc.?

  • Ordering seasonal bag/boxed candy? When possible, avoid holiday packaging; you'll have less going on half price the day after the holiday.

  • Are you taking notes on your back-to-school/back-to-campus sales?



* A Calendar Full of Profit Makers *


SPECIAL PRE-PUBLICATION SALE! Save on Your 2018 Daily Pharmacy Planning Guide if You Pre-Order by Sept. 12

If you like Profit Makers, you'll love NCPA's Daily Pharmacy Planning Guide! This planner features 365+ tips and reminders, just waiting to be put into action and waiting to make your life a little less stressful and lot more profitable in 2018. Pre-order your copy of the 2018 Daily Pharmacy Planning Guide by Sept. 12 at a SPECIAL SALE PRICE of only $24.95 for NCPA members (includes shipping) via NCPA's website or by calling 1-800-544-7447 (Guide runs December 2017 through January 2019). NCPA Annual Convention attendees can pick up a copy of the Guide for the low price of only $20—but you have to be at the convention to get it! Guides will be shipped in November.



* Front-End Marketplace Vendor of the Month *


Your Customers Are Looking for Specialty Skin Care Solutions

Be the community pharmacy that meets its customers' needs by stocking unique skin care solutions. NovaGenesis' Recovery Skin Relief products benefit patients undergoing radiation therapy, those with diabetes and eczema, and hardworking patients with tough, cracked skin. NovaGenesis also has travel sizes perfect for your patients' trips. Remember, NovaGenesis and other products on the Front-End Marketplace aren't found in major retailers or wholesalers.



* What Others Are Experiencing *


Digital Marketing Made Easy and Successful

Take three minutes and watch this video on the success pharmacy owner John Anderson and the staff at B&J Pharmacy/Wimberly Pharmacy are having with their own pharmacy app, digital newsletter and more. It’s getting them a 12:1 ROI and helping them compete with the big box stores. See it here...



* More from Hamacher Resource Group *


Cold & Allergy Continues to Be the Top-Selling Category

Cold & allergy continues to be the No. 1 category in dollar sales for independent drug, representing 17.9% of health, beauty, and wellness sales. This total is slightly down, 0.6%, from last year's percentage. Read more...


Don't Forget

Being a member of NCPA means you have access to a treasure trove of helpful hints, tips, and resources to make your front end more profitable! Download One-Pager Tips on a variety of topics. Gabe typically posts a tip once or twice a day on his Twitter account — if you're on Twitter, give him a follow at @NCPAGabe. You can also find tips in Gabe's monthly column in America's Pharmacist. The Overhaul of Fame galleries contain hundreds of photos to inspire you, from effective signs to successful end-caps and everything in between. Finally, you and your staff can access several staff training videos that will help you take an objective view of your store, both inside and out!

This wealth of knowledge is due to the fantastic photos, ideas, and suggestions we receive every day from NCPA members like you. Drop him a line at gabe.trahan@ncpanet.org with your questions, photos, best advice, and recommendations. What's selling well in your store? Let us know.


"Profit Makers" is produced by NCPA in collaboration with Drug Store News




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