DRIVING FRONT OF SHOP Meaghers Pharmacy – The Big Turnaround


Joanne O’Hagan, Sales, Marketing and Personnel Manager with Meaghers Pharmacy presented delegates with a Case Study presentation which highlighted the key challenges faced to date by the Meaghers Pharmacy group. She outlined key issues with maximising front of shop opportunities.


Joanne O’Hagan, Meaghers Pharmacy Group


what we do to help bring the best of care to you.


Many continually refer to the ‘good ol days’ and certainly within Meaghers Pharmacy Group our profit increased on an annual basis between 2004 and 2008 but much like everything else, changes were afoot and we witnessed losses in the region of a million euros in operating profit.


Challenges Following the Economic Downturn included: • 2008 – Recession


• 2009 – FEMPI and Strike €500K • 2010 – IPHA and APMI €140K • 2011 – FEMPI, IPHA and APMI €76K • 2012 – IPHA and APMI €44K • 2013 – IPHA and Reference Pricing • 2014 – Reference Pricing €225K • 2015 – Continued Reference Pricing


And so we looked at what we could do next. First on the agenda was the creation of a strategy to adapt and grow our business despite outside pressure. We looked at three key areas in particular which were;


1. Bring it Back to what’s most important… The Customer


2. Know our Unique Selling point and align our team to a common goal


3. Focus on what we can control, measure and drive to ensure success


the Meagher Family. It was a traditional family run Pharmacy that had been fully integrated within the local community.


M


In 2001 Oonagh O’Hagan purchased the Pharmacy, the store where she had completed her Pre-Registration Year. We now have six pharmacies to date.


I began in Meaghers as a Part time Healthcare Advisor in 2003 having obtained my Degree in Marketing from DIT and a higher diploma in Digital Marketing from Digital Marketing Institute.


40 pharmacyinfocus.co.uk


eaghers Pharmacy on Baggot Street in Dublin was established in 1921 by


I have subsequently been the Sales and Marketing Manager for Meaghers since 2012.


I am passionate about retail and about driving the business forward through integrating the role of the Pharmacist in the front-of-shop business.


Since 1921 Meaghers Pharmacy has been at the heart of our community, delivering expert advice in the friendly manner you would expect from a family who care deeply about our customers.


Our team of experts have a passion for bringing the most innovative and exciting products and services to our community. We aim to be the best at


With regards to engaging with our customers, our strategy and focus was to place the customer at the centre of everything we do and consider their response before making any decision within the company.


Knowing your UCP is vitally important. Everything we now do focuses around the customer and stays true to our established core values and the company vision. It is OK to dare to be different and develop Your USP.


Know who you are – your values, mission & vision. Your USP will help you gain competitive advantage. Ensure everyone shares that vision. Take your business where you want, rather than where others say you should go.


The key to delivering for your customers is to identify their greatest strength. People are your most valuable resource. In Meaghers we look at the following:


• Recruitment policy change – attitude • Day-Makers • Passionate about customers • Diversity- to reflect our customers • Foster a culture of innovation. • Invest in your people- Create experts


• Progression- talent management system


• Engage with your team- EEC- Better place to work


• Loyalty – recognition – reward performance


• Well-being – employee overwhelm


Opportunity exists with your front of shop. Our Front of Counter Business in 2008 made up less than 30% of our revenue.


It now accounts for almost 50% of our net sales. Unlike the dispensary side of the business, we had never forensically analysed the retail financials. It is important to continually question this aspect of your business.


What sections are most profitable? • Do we have the correct number of SKU’s in each department?


• Are the top sellers always in stock?


• Is our store merchandised in the best possible way?


• Have we negotiated the best possible terms from suppliers?


• Have we got the ranges our customer wants?


• On average how much does our customer spend?


• Do we know our best (and worst) sales staff?


• How much cash-flow is tied up in stock?


We must Leverage our unique position in the community. Retail has brought us on the road to recovery. n


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