​How Independent Pharmacists Can Stay Competitive Against Chain Stores

Independent pharmacists have been facing increasing competition from chain pharmacy stores in recent years. This can be a difficult challenge to overcome, but with the right strategies in place, it is possible to stay competitive and thrive. In this blog post, we will discuss some of the ways that independent pharmacists can stay ahead of the curve and compete against chain stores.

Personal Touch and Customer Service

One of the most important things that independent pharmacists can do to stay competitive is to focus on customer service. Chain stores often have the advantage of being able to offer lower prices, but they often lack the personal touch and individualized attention that customers can get from an independent pharmacy. Independent pharmacies should make sure that they are providing the best possible customer service, including taking the time to get to know their customers and their needs.

Some ways to be more personal at an independent pharmacy include:

• Calling customers by their first name
• Taking the time to have a conversation, rather than just completing the transaction
• Building relationships with customers so they feel comfortable coming to you for advice and recommendations.

Convenience

In addition to great customer service, independent pharmacies should also focus on convenience. Customers often appreciate being able to fill prescriptions quickly and easily, without having to wait in line or deal with complex paperwork. Independent pharmacies can make sure that they are providing a convenient experience by:

• Offering online prescription refill requests — Online prescription portals don't just need to be for the big chain stores. Online prescription requests are a way to make things more convenient for customers while also saving time for pharmacy staff.
• Making it easy to transfer prescriptions from other pharmacies — Customers should be able to easily transfer their prescriptions to your pharmacy, without having to jump through hoops.
• Offering delivery services — Delivery is another convenient option that can save time for customers and make them feel cared for personally.
• Accepting a variety of insurance plans — Being able to accept a variety of insurance plans makes it easier for a variety of customers to do business with you.

Inventory

Independent pharmacies should also focus on stocking the items that their customers need and want. This may mean carrying a larger inventory than some chain stores, but it is important to have the items that your customers are looking for. Some ways to make sure that you have the right inventory include:

• Asking customers what items they would like to see in stock
• Keeping track of popular items and stocking up accordingly
• Offering a variety of products, including over-the-counter medications, vitamins, and supplements.

In addition, you can offer specialty or niche products or services like compounding that not all chain stores offer. This can help you to attract new customers and keep them coming back.

Pricing

Of course, pricing is always going to be a factor when customers are deciding where to fill their prescriptions. Independent pharmacies need to make sure that they are competitive on price, without sacrificing quality or service. Some ways to stay competitive on pricing include:

• Offering discounts and coupons — Customers are always looking for a deal, so offering discounts and coupons can be a great way to attract business.
• Monitoring prices at other pharmacies — It's important to keep an eye on what your competition is charging for their products.
• Adjusting prices based on customer feedback — If you find that customers are frequently mentioning high prices as a reason for not doing business with you, it may be time to adjust your pricing.

The Bottom Line

Independent pharmacies have to work hard to stay competitive against chain stores, but it is possible to succeed.

Some other ways that independent pharmacies can stay competitive include:

• Offering loyalty programs or discounts to customers
• Offering extended hours or 24-hour service
• Providing convenient drive-thru service.

By following these tips, independent pharmacies can create loyal customers who appreciate the individualized attention and care that they receive.