It is abundantly clear to anyone who has been paying attention that the retail environment has changed dramatically in the last few years due to the rise of e-commerce and the democratization of information at customers’ fingertips thanks to the internet. The pharmacy space is no exception.... Read more
I was wrong and I should have known better. I have always associated the Kirkland Signature brand with Costco, which is why I was so surprised to learn that Costco.com is NOT the #1 seller of Kirkland items online.... Read more
Online Sun Care Category Report (May – July 2016)
As we enter fall and reflect on our summer, it’s hard to forget some of the distasteful burns we had to encounter. How did we forget about sunscreen?... Read more
We Estimate $10 Billion+ in Online Consumer Packaged Goods Sales for 2016
At the beginning of 2016, 1010data reported that the CPG industry killed it in 2015 by growing over 40 percent online year over year... Read more
Macy’s recently announced its decision to close nearly 100 stores across the United States, suggesting that the still-growing influence of e-commerce is lessening the need for a strong brick and mortar presence.... Read more
What would you do with an extra $130 billion? If you are in the retail business, that’s how much more revenue the industry would earn if it weren’t for out-of-stocks. This figure represents the amount of lost sales in North America alone, according to recent studies; globally, out-of-stocks are a $634 billion problem.... Read more
Walmart and Jet’s Chance To Pose A Threat To Amazon
On Monday, Walmart announced that the company would acquire Jet.com for $3.3 billion. Walmart believes the acquisition will broaden their customer base and add additional capabilities, while Jet CEO Marc Lore appears excited about the scale of Walmart’s purchasing and distribution abilities.... Read more
Like many other types of businesses, pharmacies face cost pressures that impact their bottom line, including rising medication costs as well as increasingly complex contracts with Pharmacy Benefits Managers (PBMs) and insurance providers. However, by gaining a better understanding of the data they already have, there is one key area where pharmacies can counteract lower profits due to rising costs: by increasing the reimbursements they get for medications they dispense to their pharmacy patients. How can pharmacies accomplish this?... Read more
Amazon’s second annual Prime Day came back with a vengeance. Last year, customers complained about a lack of enticing deals and limited availability on hot products to such a degree that the hashtag #PrimeDayFail started trending. As a result, Amazon promised to not disappoint their beloved Prime customers this time.... Read more
Will Amazon Prime Day 2.0 see another 300% spike in sales?
Last year, Amazon Inc. (AMZN) celebrated its 20th birthday by inviting its Prime customers to take advantage of exclusive online deals. This “Prime Day” resulted in the sale of 34 million items—or about 398 per second—and generated over $520 million in revenue—more than three times the company’s daily average. To put this in context: this spike in sales meant that the retailing giant captured 72% of all ecommerce sales that day. Looking ahead to tomorrow’s event, it will be interesting to see if last year’s trends are mirrored—the top sales categories on Prime Day were hardly different from any other day for Amazon—or how they might evolve as competitors promote their own deals in order to capture more market share.... Read more