By Gulshan Bakhtiani
Over the last ten years, pharmacies in India and the world have undergone a tremendous amount of change. With the advent of digital technology and online modes of shopping, neighbourhood pharmacies or mom-and-pop stores have been forced to revamp their business models in order to not become redundant. However, what continues to be a constant is the trust that loyal customers place in their neighbourhood pharmacies. It is this trust factor that modern day retail pharmacies have built upon, and the new business model is one where online and offline modes have been seamlessly integrated.
Why do Indians keep returning to their next-door store?
One of the most important reasons as to why customers prefer their neighbourhood pharmacies is the convenience factor. And this isn’t only limited to convenience due to proximity, it is also about familiarity with the store’s display, its range of products and most importantly, the pharmacist.
The role of a pharmacist at a modern retail pharmacy is much larger than that of a mere shopkeeper. Qualified and well-trained pharmacists can be key to transforming customer experience as they can help patients read their prescriptions, understand dosage and dole out general advice about usage of medicines. Their role is akin to that of a friend for customers who are often in distress due to medical and health emergencies. Modern day retail pharmacies that are now established in almost every metropolitan area and tier 2 and tier 3 cities, and have mastered this customer-pharmacist connection and have thus become trusted partners for the communities they operate in.
The second reason why people are increasingly opting for neighbourhood retail pharmacies is because of the wide range of products and services. Most pharmacy chain stores house prescription drugs and other quality wellness products. They also offer the advantages of cleanliness and attractive displays that invite consumers to browse and have a pleasant experience.
And last but not least, ease of service ranks highest on the list of reasons why customers keep returning to their next-door pharmacies. In addition to a store being within walking distance, most offer 24×7 doorstep delivery—orders can be placed via phone or apps—and this model didn’t change even during the pandemic. Whether it was oximeters or thermometers, neighbourhood pharmacy stores provided continuous support to their customers throughout the brutal waves of Covid-19 across cities and small towns in India. Retail pharmacies are also pushing for hyperlocal delivery points and creating an ecosystem whereby they house and source all kinds of wellness products; this includes fresh fruit and veggie produce, organic and herbal items, and much more. Also, features such as ease of returning products and being assured of authentic medicines, also play into why customers continue to place their trust in their neighbourhood pharmacy stores.
In conclusion, it is important to point out how the modern day neighbourhood pharmacy has managed to master physical and digital models of business. Both forms now complement one another; hybrid or omni-channel presence provides pharmacies with a wider geography to serve and helps them to build more relationships with loyal customers.
(The author is Founder & Promoter, Wellness Forever Medicare Limited. Views expressed are personal and do not reflect the official position or policy of the Financial Express Online.)