BUSINESS

Pharmacies prospering on the web

pharmacies-prospering-on-the-web

Online pharmacy turnover jumped 38.3% in the first quarter of the year compared to January-March 2020, according to figures from Convert Group, showing that this is a market segment that retains its momentum and still has great scope for growth.

Convert Group data revealed 46.6% growth in the value of beauty and personal care product sales, a 36.3% increase in sales of food supplements and vitamins, and a 33.4% rise in health commodities, including face masks. Baby and children’s items recorded a 15.4% advance.

The value of the average basket in Q1 of 2021 rose to 43.20 euros, value-added tax included, from €41.40 a year earlier, with the average quantity of items stable at 4.2.

In total there were 313 online pharmacies operating in Greece at end-March, with the 30 largest accounting for 70% of consumer visits. Convert Group noted there is a clear trend of market concentration, with larger pharmacies constantly getting much stronger than their smaller rivals, thanks to their greater purchase power, large investments in marketing and logistics infrastructure, and the expansion of their product range.