Study: Consumers Are Switching to Online Pharmacies in Search of Savings

Study Consumers Are Switching to Online Pharmacies in Search of Savings

Today we share the results of the Online Purchase of Drugs Survey, which was conducted in cities with populations of over 1 million in June 2020. 62% of the interviewed consumers surveyed believe that drugs are cheaper online than at an offline pharmacy.

Consumers admit the advantages of online shopping

56% of online consumers in the United States between the ages of 18 and 64 who have purchased at least one medication online in the last month admitted that they are less likely to visit offline pharmacies. During the COVID-19 pandemic, many Americans switched to buying medicines online.

A fifth (22%) of interviewed consumers began placing orders in online pharmacies no more than six months ago, but in this short period of time, the study participants managed to evaluate a wide range of benefits of online shopping.

During the period of self-isolation in the U.S., half of the online consumers (49%) purchased medicines mainly from online pharmacies. Many have used the services of Sky Pharmacy and had a positive buying experience, which has become an important factor in choosing online services in the future. Customers were convinced that online pharmacies not only provide quality service and sell original drugs but are often ready to offer lower prices.

At the moment, one of the main drivers of the growing popularity of online drug sales is the desire of Americans to save money. Consumers, according to their own estimates, spend on average more than $200 a month on the purchase of OTC drugs and willingly switch to purchases from online pharmacies if they provide more favorable offers on their sites.

83% of respondents compare the prices of medicines in different pharmacies before buying, while 62% of the interviewed consumers believe that medicines are cheaper online than in an offline pharmacy, which is a powerful incentive to make a purchase not only among the younger generation but also among the elderly.

The study participants pointed out other advantages of online shopping for medicines – the opportunity to purchase goods at any time convenient for them (90% of respondents answered this way), the opportunity to find a cheaper product compared to offline pharmacies (65%), a wide range of products (63%), as well as privacy when making a purchase (52%).

Further, one can expect that the online drug trade will receive a new impetus for development and push the growth of this segment of the pharmaceutical industry.

Category: Health and Wellness

Tags: medication, online pharmacy, online service, pharmacy

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