The Retail Scientist Blog

The Retail Scientist Blog

Trends and predictions for retail pharmacies in 2022

Dec 31, 2021 | Articles

Here’s the big trends I’ve seen in retail pharmacy in 2021 along with my predictions for the year ahead.

Here’s the big trends I’ve seen in retail pharmacy in 2021 along with my predictions for the year ahead:

1. Face mask sales are boomingThese will continue to be a top-seller and you should ensure that re-usable masks are in a hot-spot near your counter
2. Vaccinations drive pharmacy traffic​Pharmacies providing this service to their community will grow their market-share
3. Cosmetics and beauty sales declined by -20%Most pharmacies will remove the large franchise cosmetics stands (e.g. Revlon and L’Oreal) if they haven’t already
4. Health supplements sales have become more specialisedPharmacies that support the premium / specialty brands with trained staff will continue to grow their sales as commodity brands decline in pharmacy
5. Services in pharmacy are growingEar Piercing is the most frequently searched pharmacy service – and it is likely that Passport Photos will bounce back in 2022
6. The most successful pharmacies are keeping their retail price margins high (around 50% Gross Margin)Pharmacies that introduce a discounting policy to try to compete with Chemist Warehouse will struggle to be profitable
7. The most critical convenience-factor for retail success is convenient car-parkingCentral-city pharmacies will continue to decline
8. The most critical loyalty-factor for retail success is highly engaged customer service staffPharmacies with a skilled staff member to triage customers at their prescription counter will grow their customer-base
9. Online sales are small but growingFor most pharmacies a full e-commerce offering is not cost-effective, but selling a selected range of key products online will become more important
10. Digital communications are the new-normalCustomers expect script reminders, online repeat requests, online booking tools and regular emails from their pharmacy

Get in touch with any questions, and I look forward to visiting your pharmacy in 2022.

Happy New Year

John Saywell

Ph: 0274 359848