How we helped the Healthguard pharmaceutical chain significantly improve their retail performance
Healthguard is a successful chain of pharmaceutical stores across Sri Lanka. Continually looking to increase sales and performance, they turned to Retail Sensing. A year later Heathguard has
- Increased conversion rate by 14.6%
- Increased average transaction value by 8.8%
- Increased the numbers of items per transaction by 5.8%
- Increased monthly transactions by 10.6%
- Increased turnover by 20%
How it’s Done
Retail Sensing applied the Five Stages to Retail Excellence model.
As part of this process, the retail diagnosis included
- Benchmarking key parameters between branches
- Identifying strengths and weaknesses in each branch
- Focusing especially on
- Shopper’s path
- Signage and orientation
- Level of service
- Sales process
The steps that produced the improved sales
- Defining the existing state – characteristics, data and goals setting for the project
- Technology installation, reports adjustments, stores mapping
- Data collection using technology and other sources
- Getting an initial picture and analysis – a professional team
- Diagnosis, forming of first recommendations and preparation of the first tool box.
- Implementation of the toolbox, assimilation and training
- Training of managers and staff + Implementation of processes in the organisation
- Measuring results, adjustments and moving to the next stage – according to goal setting
- Monitoring parameters and actions according to results
Achieving Retail Excellence
The process continues. The Retail Sensing system carries on automatically collecting data and generating reports, for a continuous improvement and assessment of best practice. For more details please contact Ran on +44(0)161 394 0827.