In our previous article, we discussed the importance of merchandising in your ability to boost sales to limit expiries from slow-moving stock. Earlier on, we also discussed various data types to consider to correctly categorize products so that you can tell which items are at risk of expiry. Today’s article links merchandising to data. What if you could use data to decide where to place products within your pharmacy for the most impact? Consider PPB (Pharmacy and Poisons Board) regulations when implementing these ideas. Data-driven merchandising decisions have the advantage of limiting mistakes arising from subjectiveness. Use data to anticipate your target customer’s needs.

Category C Merchandising: In one of our earlier articles, we discussed how you can use data to categorize products depending on their contribution to the overall revenue of your pharmacy. Find out which items fall into Category C, as these are at risk of expiring on your pharmacy shelves. Separate those that PPB (Pharmacy and Poisons Board) regulations consider as POM (Prescription Only Medicine) from those classified as OTC (Over The Counter). Use the merchandising concepts to arrange Category C OTC (Over-the-counter) items at the decompression zone of your pharmacy to boost sales. Keep tabs on how data reclassifies these products as sales improve.

Product Positioning: In our earlier article discussing merchandising, we considered the role of product placement on your pharmacy’s revenue. Use data to determine where to place items on your pharmacy’s shelves. Experiment with varying positions within your pharmacy. Check items that the data shows customers buy together. Is it possible to create bundles out of such products? Which of the products complement each other? Does it make sense from the customer’s viewpoint if you place the items next to each other on your pharmacy’s shelves? Should you put the products at the eye level of your target customer?

Trends: Data over extended periods can help you notice trends. Is the allergy season starting? What products can you position in the decompression zone of your pharmacy to align with customer needs as the cold and flu season starts? Other trends, like items frequently bought as children return to school, can work in your favor for products that slow down when children are at home. Check through your Category C items to see if there is any stock whose shelf placement needs to shift in your pharmacy to boost sales. Remember that liquidation of Category C products does not necessarily warrant restocking.

Data has the advantage of accounting for the dynamic nature of the marketplace. Keep tabs on critical data points to adjust the placement of products on your pharmacy’s shelves while considering the regulations of the PPB (Pharmacy and Poisons Board). Embrace data-driven decision-making to maximize your pharmacy’s potential. The numbers can help you notice micro trends that can assist you in differentiating your pharmacy from the seven thousand-plus chemists currently registered within Kenya. Utilize the power of data to minimize losses from expiries. In the worst-case scenario, use the redistribution platform Renew Rx to liquidate your slow-moving and short-expiry items to limit stock expiries.