Americans spent a record $28.1 billion on Mother's Day last year, with the average consumer spending $220 on gifts and related items. Those figures, from the National Retail Federation, marked a decisive increase over 2020 levels, when lockdowns and travel restrictions forced many to scale back their plans.
Consumers also increased spending on another rite of spring – graduations. The National Retail Federation reported $5.9 billion was spent during 2021 on high school and college graduation gifts. the survey found that among the 32 percent of individuals who said they purchased a graduation gift, average spending was just under $120.
That's a lot of money, and a lot of gift giving. But a closer look at purchase details reveals that many-in-demand products can, in fact, be purchased in a pharmacy. Which means savvy pharmacists can tap into the Mother's Day and graduation seasons as viable revenue-generating opportunities.
What exactly are the top products for these occasions?
Here's a "Top 10" list complied by the NRF for Mother's Day shoppers:
Greeting Cards – 72%
Flowers – 68%
Special Outing – 49%
Gift Cards – 47%
Clothing/Accessories – 40%
Jewelry – 35%
Housewares/Garden Tools – 26%
Personal Services – 25%
Books/CDs – 23%
Electronics – 20%
And among graduation gift-givers? Top items include:
Cash – 51%
Greeting Card – 38%
Gift Cards – 31%
Apparel – 17%
Electronics – 14%
Pharmacies already stock many of these items, along with other products that would appeal to gift-seeking-shoppers. This includes items like perfumes and cosmetics, chocolates, teas and coffees, skin care products, photo frames, and desk supplies.
The key though, is for pharmacies to promote the availability of these items and spread the word to consumers. This can be done in a number of ways including:
• Website updates: Create "Mother's Day" and "Graduation" sections on your homepage, and list appropriate items. This will get patients thinking and remind them that cards and other products can be picked up during their next visit to the pharmacy.
• Special pricing promotions. Put products on sale! Everyone loves a bargain, and the combination of convenience and reduced pricing can be a great motivation for consumers in need of Mother's Day and/or graduation gifts. And best of all – sale promotions can be easily configured within the PrimePOS™ point-of-sale technology solution.
• Enhanced loyalty points. Shoppers can be further incentivized by offering extra points for products tagged as "Mother's Day" or "Graduation" related. This is another instance in which PrimePOS™ seamlessly manages the process, as part of the system's overall loyalty program functionality.
• Pointy from Google. Get the word out to local consumers that your pharmacy is a gift destination! Pointy from Google – available to PrimePOS™ users – helps pharmacies promote OTC and retail offerings. Whenever a resident located within geographic proximity to your pharmacy does an internet search for a certain product, your pharmacy will show up among the search results.
• Emails/Texts. Harness the power of communication! Technology systems including PrimeRx™ allow pharmacies to customize emails and texts with targeted information. Your pharmacy might want to send out a reminder that Mother's Day is approaching, suggesting your pharmacy is a great source for greeting cards and gift items.
• In-Store Positioning. Make sure items are well-positioned and easily accessible within the pharmacy. Designate a few end caps near your cash registers for gift-related merchandise. You might also place products near the patient waiting area, which would be certain to catch the eye of a patient in need of a gift.
Mother's Day falls on Sunday, May 8 and is fast approaching. So too are all those graduations that will be taking place in person this year. Position your pharmacy as a great source for the cards and gifts patients will want to commemorate the people they love. And in the process, increase pharmacy visibility and profitability!