Saturday, October 26
Supplements and vitamins are a nearly $37 billion industry and, for pharmacies, one of the largest profit margin producers. Are you taking full advantage of these OTCs at your pharmacy? It’s time to put a stop to sales slipping to retail sharks on the internet. With a private label, these products will point customers to your home page. Learn from a panel of experts what it means to have a private label, how they began to develop their own brand, and how this has impacted their practice and profits. It’s time to bust the myths surrounding private label products. This category isn’t just for some, it’s for all!
Walk away with:
- An understanding of what it means to carry a private label and why it is important for your business.
- Examples of pharmacists who have had different levels of adoption for private labels.
- Ideas for how you can integrate a private label into your practice.
Josh Rimany, RPh, FACA, owner, Dilworth Drug and Wellness Center. Recognizing that his patients were heading to Amazon to buy the same vitamins he was selling, Josh Rimany decided to intervene by making a label they could only get from him – his own. Creating a private label has allowed Josh to create brand loyalty and ensure that the profits from supplement sales would stay within his four walls.
Kathy Campbell, PharmD, owner, Medicap Pharmacy. Developing a private label in her single-pharmacist practice allows Kathy Campbell to ensure that when she works with patients to achieve optimal health, they can walk out of store with her product in hand and keep coming back for more. Kathy’s expansion into private label products has allowed her to improve her patients’ health and the pharmacy’s supplement profits.
Gabe Trahan, NCPA senior director of store operations and marketing. Gabe Trahan has worked with hundreds of community pharmacies of all sizes to help them improve their image and ultimately boost front-end profits. From conducting in-store and virtual consultations to presenting at educational workshops and writing extensively on front-end retailing, Gabe has established himself as the leading expert in effective and innovative front-end design and merchandising.