Pharmacy retailers are facing unprecedented challenges from all directions, with reduced reimbursements, shrinking product margins, and increasing costs. Advancements in technology, communications, distribution, and speed in marketing have led to pharmacists facing competition not just locally but also from national operators without local stores through their central distribution.
The traditional model of pharmacy retailing has created new challenges ahead in all areas. These challenges have led to fierce competition from large chain multiples with big marketing budgets, loyalty programs, loss leader deals, and are connected with customers 24/7 whether in store, online, or on the move.
