Ongoing projects the NACDS Retail Advisory Board has been working on led to two Insight Sessions at the NACDS Total Store Expo (TSE) earlier this month. One was on the state of digital marketing among retailers and the other explored the difference between a new item and an innovative new item, which will later be published as a white paper.

U.S. digital ad spending continues to grow and is expected to comprise 45 percent of total ad spending by 2020…

The digital marketing presentation covered three years of primary research on how chain pharmacy retailers leverage digital marketing to grow their businesses.

The researchers updated the study this year and during their presentation at TSE—“Winning with Digital 2016”—they discussed how companies are expanding their digital marketing capabilities to drive awareness and sales. The study shows that U.S. digital ad spending continues to grow and is expected to comprise 45 percent of total ad spending by 2020, however the researchers noted that even though digital marketing has been around for 20 years, it is still in its infancy.

The presentation candidly discussed the challenges inherent in digital marketing and found that most companies are still undertaking multiple activities to build on their digital capabilities. They offered several strategies for companies as they continue to try and master successful and quantifiable digital marketing initiatives.

The fourth annual NACDS Total Store Expo (TSE) brought thousands of retailers and suppliers together to see the latest products and learn about emerging technologies and trends in health and wellness, beauty, pharmacy and more.

The TSE offers a cross-industry approach focused on the entire store, and the innovative format has proven to be a success.

On Saturday alone, more than 7,000 Meet the Market meetings took place, jump-starting business transactions that flourished throughout the conference.

NACDS Leaders Speak

During his remarks at the Business Program, NACDS Chairman Martin Otto, chief merchant and chief financial officer of H-E-B, described the ability of pharmacy-based healthcare solutions to help confront an array of socio-economic challenges facing the nation. NACDS President and CEO Steven C. Anderson, IOM, CAE, spoke about NACDS’ effectiveness in putting the “public” back into public policy.

Otto said NACDS has three essential roles: to create a marketplace for suppliers and retailers to get together; to advocate on behalf of pharmacy; and to participate actively in public policy solutions.

Otto noted that access to pharmacy patient care can help to reverse trends in increasing poverty and declining education. He said, “…it’s important that we as an industry help to take the lead in what healthcare and the related pieces look like,” adding that “…we should work very, very hard to provide access to quality, affordable healthcare to all Americans.” He said that spending on healthcare is crowding out spending for education and social services, which increases poverty and creates a vicious cycle. Otto said that because there is not enough money to adequately fund these priorities, Americans need to find ways to spend more wisely. Otto emphasized that there are solutions and, he said, “collectively we can lead the way—and we at NACDS can play a big part in that.”

Anderson described the declining state of political efficacy in the nation – which refers to the people’s belief that they can affect, and have a say in, the direction of the government – and contrasted that with NACDS’ member-focused and patient-centered approach to everything it does. He gave examples of NACDS programs which reflect the Association’s “authenticity of mission and effectiveness in [ READ MORE ]