Five healthcare trends retailers should watch

Michael Browne

As the population ages, technology grows and consumer behaviors across all ages and demographics evolve, healthcare retailers, suppliers and providers recognize that they are not immune to change. Attendance at the recent National Association of Chain Drug Stores (NACDS) Total Store Expo exceeded expectations and far surpassed last year, indicating that one, business is back after the COVID years, and two, the healthcare retail industry is hungry for innovation, new products and services — and new ways to deliver those to consumers.

Here are some of the key trends and hot topics facing the healthcare industry, according to Tom Moran, vice president of beauty, health and wellness, Advantage Solutions, whose team represents healthcare product companies and works with retail drug chains and pharmacies.

Moran sees these changes as opportunities for the healthcare industry, as well as for Advantage’s healthcare business.

“Drugstore chains have consolidated, and there are now just a handful of major chains,” he says. “But now we’re also selling to other players in the field, like the group purchasing organizations (GPOs), urgent care, flexible spending accounts (FSAs), the Optums and Humanas and Express Scripts of the world. There are a lot of avenues for the services and products we provide.

“Our role in the industry is to look at all of these trends and data points and help guide our clients to the right future.”