RxLoyalty

Retail pharmacy business in India is likely to see major changes. Retail pharmacies are a critical part of our healthcare eco system. For a majority of citizens challenged with access and affordability, pharmacies are not only a PoS for medicine but also a primary healthcare provider. While pharmacies have evolved from conventional ‘Chemists & Druggists’ to contemporary ‘Medical & General Stores’, the basic functioning of this business has remained unchanged for decades. Technology, however, has started challenging this 'Status Quo'. Business management has changed rapidly across industries after e-commerce disrupted the traditional business model. Retail pharmacies will also have to embrace technology to remain relevant in the digital market place. There is no other way to compete with the speed, efficiency, consistency, rapid scale-up & convenience of mobile technology. Though pharmacies have good customer relationship fundamentals they cannot compete with modern database management, customer feedback analysis, automated reminders or digital marketing employed by e-pharmacies. While heavy discounts may appear to be the key reason why e-pharmacies are growing fast, in reality it is the story of a fragmented unorganised system fighting against a nimble electronic network that is built to handle large business volumes in the form of an easy to use consumer app. Outcome of this competition seems predictable but need not be at the cost of either. Retail pharmacies will change for the betterment of society and RxLoyalty is here to be a part of that revolution.