Omni-channel pharmacy player projected a 25% CAGR over 5 years by optimizing online-offline mix
15 Apr 2020
1 min read
We analyzed our client’s performance across offline retail and online sales channel and derived their key strengths and potential focus areas. Through in-depth interviews with online customers, we established 3 key customer archetypes to assist our client in formulating strategies according to them. The elaborate SWOT analysis would aid our client save significant margins & revenues over the next 5 years
Context
- Client Description: A leading omni-channel pharmacy player
- Opportunity: The client wanted to benchmark its operations and revenue across the sector to understand key relative strengths and weaknesses. This study was to be conducted across both online and offline retail channels to identify areas which could be improved upon for larger revenue, efficiency, and brand recognition
Our Approach
- Conducted over 30 mystery store visits for client and competition stores to benchmark retail experience for leading players
- Conducted over 20 primary calls with experts, current practitioners and customers to benchmark online transaction journey for client against competition platforms
- Estimated client’s current market share and CAGR over 5 years; analyzed unit economics for retail and online channels and identified locations with high SPSF (Sales Per Square Foot)
- Analysed revenue split by drug type (acute, chronic & FMCG) for online and retail channels and conducted primary calls to understand customer needs & preferences