NCPA Executive Update

NCPA Executive Update delivers insights on legislative, regulatory, policy, and industry developments from NCPA CEO B. Douglas Hoey, Pharmacist, MBA, to NCPA members and pharmacy leaders every Friday.

Flamin' Hot Cheetos ... and you | NCPA Executive Update | September 28, 2018

by NCPA | Sep 28, 2018

Dear Colleague,

Doug Hoey

Chances are you didn't wake up today wondering which state buys the most Flamin' Hot Cheetos from Walmart (although we do know of one individual who loves them – bless his heart). This, however, can be useful information to your business.

Community pharmacies are known for their personal service, and the most successful are also known for being a source of distinctive or hard-to-find products that consumers know other stores don't or can't carry.

These unique products not only help make a community pharmacy a business that consumers will go out of their way to find, but they also create the best kind of advertising for your business: word of mouth – as in, "I went to Big Box W, Big Box C, and the other Big Box W and couldn't find what I needed until I finally thought about my independent pharmacy. They knew exactly what I was looking for. They ordered it, and I had it within a few days. They even offered to deliver it to my house!"

Identifying unique products that other independent pharmacies are having success selling and promoting those products to your patients and customers are two key needs for pharmacy owners. That's why NCPA recruits exhibitors to our Annual Convention that are selling unique products designed for unique consumer needs. And, for those unable to attend the convention this year, NCPA created the Front-End Marketplace. NCPA also has a partnership with Digital Pharmacist to help pharmacy owners develop their social media presence and reach existing and new patients.

As for those Flamin' Hot Cheetos, Walmart.com reports their top selling items in each state.

Why might that be interesting information to you? Aren't most independent pharmacies the "un-Walmart"? But knowing what consumers are already buying at the biggest of the big box stores can help you know which products to avoid and which to target. For example, knowing there are a lot of Flamin' Hot Cheetos (Minnesota) or mayonnaise (North Carolina) being sold in your state might prompt you to target promoting products from the "Healthy Snacks" category in NCPA's Front-End Marketplace. Or, it may cause you to go on a search for products in NCPA's convention expo that no big-box (with the limited number of shelf SKUs it has) will stock.

We're on the lookout for distinctive products that will generate revenue for you and attract patients to your pharmacy. Check out what we've found in the NCPA Annual Convention Expo next week in Boston and in NCPA's Front-End Marketplace online.

Best,
Doug Hoey

P.S. Speaking of the NCPA Expo: We're expecting a couple of very special attendees you won't want to miss. MLB Hall of Famer Jim Rice is expected to visit the Anda booth on Monday. We've also heard rumors that a certain NBA Hall of Famer may join us, too. Plus, NCPA keynote speakers John Quiñones (host of ABC's What Would You Do?) and Jim Huling (co-author of Four Disciplines of Execution) will also be in the Expo to visit with you after their presentations. See you there!