IPN 2022 October

Peak Trading 2022: A Pharmacy Guide to Success

The holiday and therefore peak trading period is just around the corner. Following several years of lockdowns, reduced social contact and uncertainty consumers are ready to return to their pre pandemic festive traditions and for many that includes shopping.

Written by Orla Cooney, Chief Operating Officer, Magico

This year however consumers are facing unfamiliar pressures to their disposable income resulting from increases to cost of living and spiralling energy costs and retailers continue to face relentless supply chain issues. It is clear that in a highly competitive market online pharmacists will need to work harder than ever to ensure a successful peak trading period.

Where to begin? With Planning

September & October is all about planning. Consider your stock, resourcing, promotions, and digital marketing strategies, by October you want to ensure that you have all the plans in place to maximise the peak trading opportunity. Do you know what product ranges you want to push, have you sufficient stock, what discounts to offer, what campaigns to run, what channels to use and do you have the assets and resources in place to make the magic happen.

Also consider the customers user experience when they visit your website. Optimise your online store ahead of the shopping rush to keep your customers converting.

• Advanced site search will offer your customers search as you type functionality and ensure that the most relevant products appear first, increasing your conversion chances.

• Personalisation services will customise their online shopping experience and make recommendations based on individual browsing histories.

• Take every opportunity to upsell and feature complimentary

products, this is a fantastic way to encourage your customers to increase their basket value. Examples of these products include offering a tanning mitt with a tanning cream or make up brushes with makeup

• Employ Out of Stock email alerts so you never miss an opportunity to convert a sale when you restock

• For high ticket items like hair dryers, styling tools etc, why not offer the option for the customer to pay in instalments. Great way to entice and convert the organised early shopper particularly when customers are more considered about spending this year

• For multi outlet retailers allow customers to view instore stock availability across your store network from the product detail page. Offer them the control to select home delivery or the option to collect from their local store.

• Optimising your checkout to provide a painless checkout process boosts your conversion rate and gives customers more reason to return to your online store.

At the heart of your planning should be your omnichannel strategy, successful Retailers don’t think of online retail and physical retail as separate functions, it is all Retail. Your customer could see a product on your Instagram page, order it online via your website but return it in-store OR see a product in-store and go home and buy it later online so make sure that your various marketing channels are synced and do not function independently

November is the time to capitalise on the organised shopper, those who know what they want and are price sensitive. Marketing should be focussed on showcasing your best offers and ensuring you stand out from the competition. Email & SMS marketing are excellent means of staying connected with customers during this time, promote your offers in advance, create a buzz with pre-sale exclusive offers and reward loyalty with access to this years “must haves” before stock runs out.

Providing excellent customer service can also help you stand out from the competition during peak trading periods. Superior customer service will also bring customers back to your online store long after the peak trading period. Everything from their first interaction with you, to transparent and fair delivery and returns policies are crucial in developing long lasting relationships with your customers. Surprise your customers, add free samples with orders, allow your customers to add gift messages, go above and beyond with customer service, or offer a discount on next purchase.

Customers are also more green conscious then ever and are using their buying power with a renewed desire to buy from brands that demonstrate a genuine commitment to sustainable business practices. Sourcing ecofriendly materials, the consolidation of shipments, reducing the distance packages travel and minimising paper and packaging used for shipments and returns are ways that Retailers can contribute to a more sustainable future.

December is the time to target the last minute shopper.

Time is of the essence with Christmas approaching so take the stress out of your customers shopping experience and focus on your delivery and customer service terms. Reassure your customers that their purchases will arrive on time and that you will deal with any issues that might arise without delay. Building this trust will not only convert Christmas shoppers but will have those shoppers returning post-festivities. For the reluctant shopper make it easy with gift guides like Gifts for Mum and Gifts for Teenagers etc, Gift Hampers and Gift Cards will also

help those shoppers who have run out of ideas.

In the peak shopping frenzy, customers are likely to browse numerous online stores and place multiple items in their shopping carts. Often the customer gets distracted by another product or promotion and these carts become abandoned. Use email to entice these customers back, remind them of their potential purchases and consider offering a promotional incentive to encourage conversion.

Post-Christmas will see the return of the deal hunter, it is important that you have your promotions in place, and you are ready to again stand out from the competition. Depending on what stock you have left over you also need to be prepared to pivot your plans and react to the opportunities that may present themselves.

To succeed this peak trading period you need to consider the organised shopper, the deal hunter and the last minute frenzied shopper and create a shopping experience that exceeds all your customers’ expectations.

Orla Cooney, Chief Operating Officer, Magico with over 20 years’ experience. Orla’s strength is in her ability to focus on the practical application of ecommerce strategies for her clients, she works with clients to identify the best strategy for them and how to deliver it.

Magico (www.magico.com) is a client-first, innovative eCommerce Agency based in Ennis, Co. Clare, that has been delivering websites for Irish retailers since 1999 and specialises in getting pharmacies online & helping them to grow fast.