With the cold season on it’s way and daily temperatures dropping and wet weather rising, it’s inevitable that consumers will soon be flocking to convenience stores for cold & flu relief. With most adults experiencing two to four colds a year, soothing solutions are in high demand in c-stores. With extremely long waits for GP Surgeries and advice not to visit a doctor for colds & flu, many people are turning to self medication.
The lines in convenience stores are much shorter and most over-the-counter ailments can be found at a cheaper price in store. This opens up plenty of opportunity for stores OTC medicine displays. Many retailers have setup pharmacy sections in store to help shoppers get through the winter months ahead.
OTC Health Sees Strong Growth
The over-the-counter healthcare category is steadily growing as retailers make the most of achieving those ‘sick’ sales. With £118m being added to the category year on year, it is a surprise to see that branded cold and flu remedies have slightly declined. Bearing this in mind, it’s important for retailers to remember to offer on-the-go medication to consumers so that they can get on with their busy lives instead of resting up.
The advice to retailers in order to raise OTC health sales are to drive impulse by offering cross-merchandising complementary products such as tissues, lip balms and medicated candies. The best time to stock up is from October onwards as this will prepare you for the busy Christmas period and again before the New Year to prepare for the first few cold months of 2020.
The OTC Placement Debate
Today, a high number of retailers agree that setting OTC medicines away from the counter and around your store is often the best placement option. You want customers to see them and be able to browse the shelves up close and personal. One of the biggest arguments against this has always been regarding shoplifting, however, many retailers comment on the fact that most thefts occur on alcohol aisles.
As merchandising has evolved over the years and technology in store has changed, a high number of retailers have remarked that consumers only buy OTC medicines when they can see them. Similar to batteries, they can sometimes be something people only remember they need when they come across them in-store.
Branded Vs Non-Branded
The other on-going battle in medicines is between branded and non-branded ranges with a rise in concern over the main difference in product between the two. Some retailers have openly admitted to promoting generic products based on price & effect. A BBC documentary released within the last year sparked some concern over the fate of branded products as the debate over the difference between branded and non-branded came to question.
The conclusion, consumers still prefer to have a choice. Many have remained brand loyal – while others have opted for the generic medicine in favour of a cheaper price. The decision can sometimes be down to how ill the customers is, if you have a thumping headache you’ll often end up reaching for whatever remedy or relief is nearby.
It’s All Down To Location
Your stock selection should always come down to your location especially for OTC medicines. Think about where you’re located and what’s around you that might influence a consumers choice of what to purchase. Your selection edit could depend on your customers’ missions. If your retail store is located near a travel hotspot or airport you might want to stock up on sleep aids, breath products and hangover cures. Similarly, if you’re located in a residential area your customers will opt for more family-focused products.
Ideas For Boosting Medicine Sales
It’s important to put yourself in the headspace of a customer who’s under the weather. They may be waiting to speak to someone at the pharmacy counter in-store or confused about the best option for a home remedy.
- Providing NHS information on cold & flus along with clear displays and info on the products that you stock, you can often make things a lot easier for customers.
- Offering a well stocked range of OTC medicines all year round is also key. Many consumers can suffer from summer cold and winter allergies therefore it’s important to offer these patients some relief.
- Last year, more than half of all brits suffered from a headache at one point throughout the year. This figure also rose within the 24-34 year old bracket as 64% said they suffered from headaches. This is why it’s important for retailers to factor in purchasing a range of pain relief medication for consumers to look through.
- Instead of making a pharmacy section in your store, why not look at making an every day essentials section. This can include everday items such as plasters, deodorants, cough syrups etc. That was consumers can browse the combined category easily and you have more change of placing complimentary goods within reach of each other.