Retail First - Pricing Your Numark Own Brand
We're sure you are aware of the great quality own brand can bring to your store and customers, this is something we strive for at Numark.
Listing own brand products provides a great way to make healthy margins on the OTC side of your business. What if we told you, you could make even more money, whilst your customer still saves?
Quality and Efficacy?
Did you know that if a product is priced too low consumers are likely to question its efficacy and quality?
Often we're keen to sell own brand products as cheap as possible, although this is a cost saving for a customer, they may feel like the product won't fix their problem as well as a leading brand could, and therefore will not buy into the Numark brand.
Elevate the brand to instil confidence in customers through increasing the retail price. The customer still receives a high quality product and saves money whilst you make more cash margin! Many of our Numark branded products are alternatives to the leading brand so why charge 50%+ less?
This new pricing model prices the Numark brand approximately 20-30% more cost effective than the leading brand!
Helpful and accurate advice
Pharmacy is a unique experience for each customer, they often need added support with decision making and help finding the right product for them. This is where you come in - the Pharmacy Team!
With your trusted advice and recommendations customers will choose the Numark products over the brand, receive accurate helpful advice, a high quality product which will treat their problem, as well as, save money vs the brand. And that’s not it - YOU also make more cash margin than selling a brand.
Advising a Numark own brand purchase will drive loyalty and repeat purchase in your store. As Numark is exclusive to you, as our member, customers will return to your store and be confident in trying other products in the Numark range, thus leading to sales growth and increased footfall and loyalty.
Don’t worry, we’ve done the work for you!
We have amended all RRP on the system for you, which adopts this new model, so you don’t have to work it out! Making this small change means you will see huge benefits to your own brand business.
It’s up to you!
We’d like to take this opportunity to remind you that retail pricing is totally your choice for your business. We have looked at market place competitors and have based our recommended price accordingly, as well as, supporting you to maximise profits in these challenging times.