Hyperlocal Market in India and how it is changing the Pharma Industry

hyperlocal market in India - Pharma Industry

There is an increasing concern in almost every Indian household regarding the risks associated with proper health and hygiene. It has resulted in high demands for healthcare products and services. Players in the healthcare industry treat the demand as a catalyst to broaden their target market. We can see new rush for healthcare products and services. It has led to emerging new markets for pharma giants to target and leverage. And, hyperlocal market in India is showing the way.

The stagnant pharma players used to attribute to the old-age spray and pray marketing approach. It lacked the motivation to meet the needs and demands of the target audience, leading to a diversified target landscape that gives little ROI. For starters, medical representatives follow an approach where they target doctors based on intuition. Eventually, facing an inevitable loss of opportunities. Meanwhile there is a huge dearth of predictive analytics to know consumer behavior to seamless pharmaceutical marketing. 

From Multinational to Hyperlocal market in India

Players operating in India are riding the hyperlocal wave in the wake of rapidly increasing demand for healthcare essentials. Aiming to capture the same-day delivery market, these companies schedule pickups from local stores & emphasize the hygiene procedures to ensure safer deliveries. With cashless and contactless deliveries, they provide convenience and safety. Some pharma players use the hub-and-spoke model by setting up their own warehouses. Some have tied up with wholesale establishments located on the outskirts of the major India cities also known as dark stores (the ones which don’t supply walk-in customers).

The Long-Term Impact

A mammoth number of market players found surveys indicating the shift towards a direct-to-customer delivery model. Here, the customers want to buy products directly, which decreases dependency on middlepersons. Many companies will be able to evolve their distribution channels and execute direct deliveries to consumers. This model will enable local retailers to increase their market coverage & let pharma companies to push their inventory and efficiently achieve scale.

Increase in Sales 

Acceptance and application of hyperlocal concepts offer local shops a great opportunity to gain visibility and increase their sales, customer base and revenue to stay alive in the business market. 

Fewer efforts needed by retailers

This is another reason why top mobile app development companies focused on the developing of pharmacy mobile apps based on Hyperlocal concept. It allows offline retailers to enlist their stores with one of the respective platforms. Once a customer places an order with prescription details, the delivery partner will assign the order to a delivery executive. Delivery companies handle the personnel based on different models of remuneration. Hence, embracing the hyperlocal market in India is a great opportunity for them to save and grow their business like never before.

Transparency and efficiency

Your customers receive the lion’s share benefit offered by this delivery model. They get the luxury to evaluate options available for reaching an informed decision. The biggest benefit customers get is efficient delivery from a hyperlocal market. This is something that adds to the CSR (Customer Satisfaction Rate) offline stores to help them get new customers in the future.

Increased competition

Customers get the most benefit from this innovative delivery model. It acts as an effective system that encourages offline retailers to improve the quality of their business efficiency, transparency, and relevant standards and practices. As a result, customers get the best quality of medicines at a competitive price.

A single device for all your errands

Just a few taps on your smartphone’s screen and your customers avail services on the go. This is something on-demand pharmacy apps are now trying to provide you through the application of Hyperlocal concept.