Keeping up with new health and beauty care (HBC) product introductions is no easy task, let alone evaluating each item for its profit potential and orientation for the drugstore class of trade. Studying the store's product assortment is not always a realistic goal for busy pharmacists and pharmacy managers.
The Hamacher Resource Group provided the information for this article. The Milwaukee company provides marketing services and business intelligence to the healthcare industry. Wholesalers, manufacturers, and retailers partner with Hamacher Resource Group to improve their profitability. For more information, visit http://www.hamacher.com/.
Keeping up with new health and beauty care (HBC) product introductions is no easy task, let alone evaluating each item for its profit potential and orientation for the drugstore class of trade. Studying the store's product assortment is not always a realistic goal for busy pharmacists and pharmacy managers. But Hamacher Resource Group stayed in step with product manufacturers throughout 2005 and reviewed nearly 2,500 new products for possible inclusion in the planograms that independent retailers depend on to keep front-end shelves working hard for them.
Hamacher leverages its relationships with hundreds of product manufacturers to gain the insight pharmacists and pharmacy managers don't have the time-or the resources-to develop regarding which products are the best bets. Expert category analysts combine their hard-won knowledge of what works with what's new-resulting in sales satisfaction rates that keep retailers happy and shoppers coming back for more.
The star rating system
Each month, the category analysts at Hamacher Resource Group evaluate dozens of new HBC products recently released or about to be released to retailers. Key tools at their disposal are exclusive product information provided by manufacturers as well as in-depth knowledge of each category's history and trending.
After a thorough review of the new product's features, benefits, and target market, each item is judged according to its demonstration of innovation, marketing support, orientation for the drugstore trade class, category growth, and earnings potential. Once evaluated, new items may be assigned a one-, two-, or three-star rating, based on how they score in each of those eight areas. Of the 2,500 items reviewed in 2005, 595 received either a one-, two-, or three-star rating.
Shaving and men's grooming (274)