Future of Online Pharmacies in India

Introduction

The corona virus pandemic can be considered as one of the worst calamities that human had to face till date. Not only the health but also the wealth of the people got affected due to the Covid-19 infection as thousands of people lost their lives and millions lost their livelihood.


The world economy was hit hard by the corona virus pandemic and stock exchanges around the world crashed after the outbreak of the disease. The full effect of the corona virus was not realized by the world governments till next few months, until the World Health Organization (WHO) gave a clear warning and declared the corona virus infection as a pandemic on March 11, 2020. Alas, the warning came very late. Cases from around the world started increasing exponentially. Nations who were ready for war were found ill-prepared to tackle this pandemic.



A New Beginning

Despite these tragic events, the two sectors which helped the Indian economy recover are e-commerce and pharma. During these difficult times, global presence of the Indian pharmaceutical industry came into limelight. The pharma industry in India at present generates a yearly revenue of 30 billion US dollars with a CAGR of 23% annually. The revenue is estimated to reach around 60 billion US dollars by the end of 2023.



India is considered World's Pharmacy, and is the second-largest manufacturer and exporter of medicines in the world. There is an immense potential for the growth pharma business in India due to the already developed medical infrastructure in the country and this the most valuable time for companies to grow their online pharmacies.



Post-Covid-19 Strategies for the Pharma Companies

Here are the few tips which will help the online pharmacies to take their business above and beyond:

1.    Knowing the company’s status: It gets easier to compete in the market if an owner knows in which position their business stands and how much revenue they collect. It will help them to focus on the loopholes which get ignored. 

2.    Making strategies to grab attention from the customers: A pharmacy cannot just display their products on any random website and expect to gain profit. They have to make a proper strategy to sell their products. How to get connected to the customers on different platforms? Proper management of the website that has been launched to sell drugs with a proper brand. Also, following the rule of no medicine without a prescription will enhance the integrity of the business. 3MEDs is one of the instances which run their online pharmacy business in Delhi focusing on all the above-mentioned rules and regulations. 

3.    Proper marketing of the product: Customers prefer to buy products from relevant government registered online pharmacies that have a proper license to continue their business. These online pharmacies should do proper marketing of their online application so that customers could gain the trust and switch to their domain for placing online orders. They must connect with them through Facebook page or any other social website for building more trust and reliability by providing multiple information regarding their websites.

4.    Easy navigation of the application or website: The owner should keep in mind the customer will give preference to the application only if they could easily navigate the app or website. They would not prefer to waste their time or bang their head on a website which will create a hassle. 

5.    Assurance to give 24 hours of delivery: Medicines are not a prodigal product. People purchase medicines for a necessity. So, they would prefer it to be delivered on the doorstep on an urgent basis. However, if a company assures its product to get delivered within 24 hours people will switch to their online application. 

6.    Adherence to rules and regulation: Customers most of the time who have access to online applications and specifically the online pharmacies are well educated. They prefer to know the authenticity of the applications and also the products which they are dealing in. They research the history of medicine and then place an order. In this regard, if the online pharmacy does not follow all the rules or does not have government registration as a repercussion, it has to lose its customer and business too. 

7. Interacting with customers: Customers always prefer to know their concerns are being heard and always eager to feel informed about the products or wellness options they are choosing for. Hence online pharmacies should focus more on reverting to the customers' queries at the earliest and should go through all the reviews. It will give a great boost to their business.

Conclusion

it is to believe that a well-strategized company could easily make more money by their hard work and dedication. Online pharmacies in India are in a great competition to prove their credibility in every possible way. Many new online pharmacies have launched their application in the year 2020 and continued their job impeccably. One of the best online pharmacies in Delhi 3MEDs has proved its capability in the health care business who is always available for 24 hours of online medicine delivery in Delhi.

 

Keywords: Online Pharmacy, 24 hours delivery, online pharmacy.  

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