The sudden pandemic hit has completely changed the ways of life. The lockdowns have restricted the regular movements, and until you get the vaccine, it is better to maintain the social distancing. So what about regular shopping for essentials? Especially if you need some medicines regularly, you must have a regular supply. With every consumer-based industry shifting to the digital platform, the medicine shops are also adhering to the virtual platform for serving the customers.
Price factor
Most of the customers prefer the online medical stores right now, the chief driving factor being the low price of the medicines. Now you must be wondering how is it possible for the online shops to offer the medicines at a lower price than what you pay at the physical stores. There are definitely a few reasons behind the scenario.
- No setup charge
If you notice carefully, you will see that there are new companies in the market which have started the business of selling medicines online only. Now, from the beginning, these companies neither had to invest huge capital for the physical store set up nor have to pay monthly charges for the maintenance of a store. The only necessity is the storage area for properly storing the medicines at the right temperature specifications. Naturally, the companies can maintain a good profit margin even after offering huge discounts.
- More customer base
Suppose you have a physical medical store, and the maximum customers are from the neighborhood only. So you cannot expect an overwhelming number of customers any day as the periphery is limited. Now think the same setup is online, and you are open to global customers too. Orders will pour in if the owner can effectively advertise the company. As customers and the corresponding quantity of orders will increase, the company can earn profit from a wider customer circle instead of acquiring more profit from individual customers within a limited area.
- Bulk orders
It is a feasible idea to Buy medicine online at cheap rates in today’s world, where convenience is the ultimate requirement. You can place bulk orders too, to get huge discounts. For instance, you need insulins every day. If you place an online order for a monthly supply, you may even get the monthly subscription plan that will lower the price per unit by another 1% or 2%. Bulk orders are more profitable for the sellers.
- More members
Always remember that the competition in the online medical selling industry is very high. Every company is trying to grab the attention of the buyers. A company is successful when the company has many members registered with the pharmacy. So the prime focus of the companies is to allure the customers with the best possible offers.
Buying online provides you the opportunity to compare the prices of the different pharmacies and then buy the medicine at the lowest possible price. But you also need to ensure that the source is medically authentic. More members indicate continuous sales that will aid in getting more offers.