Offers are designed to boost shopping and increase sales at your Pharmacy in categories, beyond medicines.
First of all, you should start by choosing the ways in which you are going to make your offer, by ensuring that the offer allows you to make a profit:
“-20%", "1 + 1 products, with the second free or discounted - 50%”
Special offers can boost seasonal sales, enforce the sales in a period of low mobility at your pharmacy, and reduce product stocks at the end of a season.
In addition, an offer may be for high demand products or some temporary low priced products for a short period of time, to enhance the image of your pharmacy through attractive prices.
Analyze the results of an offer
It is necessary to calculate the proportion of items that have been sold during the period in which the offer lasted and the items that you have ordered.
If the ratio coefficient is less than 1, it means that the order was larger than it should be or that external or internal factors negatively affected the sales.
If the ratio is close to or equal to 1, then you may need an additional order.
These are things you should consider.
Determine the prices and goals of your sales
The selection of the final price of a special offer is determined by two criteria:
The prices of the competitors and the profit margin.
You can proceed to a survey among your competitors' prices, before fixing your prices.
Of course, you need to know your profit margin, in order to avoid any loss of it.
You should therefore use your pharmacy management software to calculate the necessary sales price estimations.
Beware, if you want your special offer to be attractive it must exceed -15% of the initial price!
Review the offer
Create a file on your computer with details of all the promotions you perform from time to time (basics data, numbers, season, product category, promotion mode, pre and in-season discount, profit, quantities that sold).
After the special offer period, you have to evaluate the items which have been sold, the turnover data and the profit.
Depending on the results, you will decide whether to re-create another offer.
Especially, by following this way you will avoid mismanagement.
The first time always shows us the path for more improvement.