If you’re reading this, then you know that it takes a serious scientific background to work as a pharmacist. But did you know there is a ‘science’ to pharmacy merchandising as well?
When new pharmacists venture out on their own, the merchandising space can present one of the biggest challenges. After having learned their trade, these new pharmacists must also figure out how to become retailers as well. Many expect this to be an easy learning curve, but it requires just as much effort to master as anything else.
The team at O’Connell Store Fixtures has written this blog to explain the basic ‘science’ of pharmacy merchandising — so new pharmacy owners will have a resource to tackle the learning curve. Please leave a comment below or contact us if you have any questions!
Are You Starting an Independent Pharmacy?
Many new pharmacists will begin working at a big store and then open their own location after acquiring enough experience. It can be a significant shift moving from a big store to a little store. Opening your own independent pharmacy will force you to ‘downsize’ your expectations for how things will go — at least initially.
For example, a big store will often have a separate retail department, which runs the merchandising separately from the pharmacy. In a small store, this is not the case. The pharmacist is responsible for everything.
When starting an independent pharmacy, your first step should be to ask: is there anyone who can help me with merchandising, or am I doing this on my own? It’s always better to get help from someone with experience managing a retail store.
Running a Successful Retail Pharmacy
There are a couple of key success strategies, when running a retail pharmacy. These strategies will apply equally well if you’re running the store on your own or with someone else’s help. In order to make sure these strategies are effective, you need to do your homework. Here’s where you should start:
Find Your Demographic
Understand the neighborhood where your pharmacy is located. Figure out who will be coming into your store on a daily basis. Who will be buying your merchandise? Find your demographic and stock products that will cater to them.
Do you have predominately seniors or families? If you are stocking diapers, for example, families will need Pampers and Huggies, while seniors will need Depends. The key is to understand what your customer base needs and make it accessible to them.
Understand Your Pharmacy Space
Once you understand your demographic, it’s time to understand your space. Go into the front of your store and look around. How much room do you have for merchandising? If you have a small store with limited space, you need to prioritize your products and offer only top sellers.
Your pharmacy will have to include a phone, a dispensary, or other features. You will need to plan the space for this. Make an accurate judgement of your merchandising space, based on the final layout of the pharmacy — not the ‘in progress’ one.
Buy the Right Shelving Units for Merchandising Displays
At O’Connell Store Fixtures, we understand that the right merchandising display can make a big difference in helping a customer locate a product. You want to ensure that your pharmacy has the right effect on visitors, using quality materials and clean designs to present a professional front. Our team will help you select the right shelving unit to display your merchandise.
For help with pharmacy merchandising, contact the O’Connell Store Fixtures team in Ontario today!