Thought leaders talk achieving results
Mack Elevation Forum and Drug Store News on the day before the NACDS Total Store Expo brought together eight critical thought leaders from both inside and outside the industry, challenging attendees to think beyond their brands to achieve breakthrough results.
For example, Seth Rogin, chief revenue officer of Mashable, gave advice on how to best access the buying power of millennials. “[Millennials] want businesses to be engaged and do not trust businesses that are not engaged,” Rogin said. “[As many as] 63% of millennials are giving money to charity. Our brands that stand for something can also do well while doing good at the same time.”
Regarding new product launches, Larry Levin, IRI’s EVP and practice leader, proposed that breakthrough brands continue driving trial through the second year of launch. As many as 71% of those products supported in the second year of launch saw their sales grow, he said. “The average expense [year one to year two] went from $11 million to $14 million in media spend, and the sales return went from an average of $35 million to $50 million.”
Brett Goffin, industry head of retail at Google, proposed that the mobile platform is the endcap for today’s generation of shoppers, and that the best user experience will be bridging mobile search with nearby store inventories. “That’s the future of mobile and customer empowerment for omnichannel.”
DSN will feature videos of each presentation in the weeks ahead on DSNTV.
Product innovation essential
Let’s face it: New products are the lifeblood of this business. If you’re a retailer, that’s why you went to NACDS Total Store Expo. That’s why DSN went to NACDS TSE, too. For two days, our reporters searched the show floor for the very latest and best new products and offerings at NACDS TSE.
Here, DSN presents some of our Hot Product Picks in OTC and beauty. For a look at some hot new pharmacy tech products, see page 26.
Hot OTC Products
With sales of energy shots down 6.8% for the 52 weeks ended June 15, according to IRI, Bayer’s recent introduction of its energy supplement Berocca may provide a lift to the category.
Nipro Diagnostics’ next-generation True Metrix blood-glucose meters feature new metrics, such as meal tags and the ability to note such events as exercise and sickness to determine patterns.
TENS units are hot, and Drive Medical’s PainAway wireless TENS unit features rechargeable batteries and consists of an LCD remote control, two receivers and reusable pads for total body treatment.
Vigilant launched a line of smartphone-connected devices, including the Bee diabetes smart tracker, which serves as a cap for insulin pens and allows users to track insulin use wirelessly.
Carma Labs is looking to shake up the cold sore category with Carmex Cold Sore Treatment, which provides pain relief and, at the same time, minimizes the appearance of the sore.
Conception products like Rinovum Women’s Health’s Stork OTC may carve out a new category in the OTC space. The nonprescription applicator brings fertility treatment to the self-care aisle at a fraction of the cost.
Higi healthcare kiosks make for a more engaging health experience by employing gamification elements — like rewards for testing and participant challenges — to help drive interest in taking health measurements at the kiosk regularly.
Hot Beauty Products
Looking to bring skin diagnostics into the hands of consumers is the OKU Daily Skin Check by mySkin. It connects to an iPhone and comes with customized apps targeting aging, acne and skin health, depending on the consumers’ needs.
Vigilant is bringing gamification to children’s oral care with its new Rainbow smart toothbrush. Connected via Bluetooth Smart, the Rainbow uses 3-D sensors to help children learn the right brushing technique recommended by dentists.
Smile Shield is a 100%-natural stain block that creates an invisible barrier across the surface of teeth to help protect against coffee or red wine stains.
Bee Bald Man Care wants folically challenged men to embrace baldness with its product portfolio that includes a cleanser, healer, moisturizer and “anytime, anywhere” wipes.
Get your vitamins and a healthy smile, too! Vitaminpaste is a multivitamin and mineral supplement toothpaste that promises to whiten teeth, fight tartar and freshen breath.
Looking to expand into the drug chain channel, physician-developed MD Hair is promoting its MD Nutri Hair one-capsule daily supplement for female thinning hair and its MD Hair Restoration System.
Through its partnerships with RainCatcher and vitamin angels, SoapBox donates either a month’s supply of clean water or a year’s supply of vitamins with each purchase. Products include bar soap, body wash, lotion and liquid hand soap.
Industry giants to serve as panelists
The 16th annual Drug Store News Industry Issues Summit on Dec. 2 is shaping up to be a must-attend event. In addition to the newly named CVS Health and the Walgreens Boots Alliance, participating retailers will include Ahold, Cardinal Health, Costco, Family Dollar, Good Neighbor Pharmacy, Rite Aid, Sam’s Club, Shopko, Target, Thrifty White and Winn-Dixie.
Chris Dimos, SVP corporate strategy and business development for McKesson, will moderate the first panel — titled Health, Wellness and Technology Summit — which will address emerging healthcare technologies. The next panel — Diabetes and Chronic Care Roundtable — will explore the critical issue of chronic care management with moderator Dave Wendland, VP Hamacher Resource Group.
Dan Mack, founder of the Mack Elevation Forum and author of “Dark Horse: How Challenger Companies Rise to Prominence,” will moderate the Industry Issues Summit panel on driving front-end growth.
In addition, DSN editor Rob Eder will moderate a discussion featuring special guest speaker Raymond Kelly, former New York Police Commissioner.
For more information, including registration and sponsorship, visit DSNIndustryIssues.com.