Nicholas Hall's North American Conference

New Jersey 2018

Nicholas Hall opened proceedings with his keynote speech by asking β€œAre we looking in the right place for growth?”. He said that the PharmacyPlus definition is wrong as the market is already 50% bigger at US$185bn when you include MLM and e-commerce. As an industry we need to be more than PharmacyPlus.

To achieve growth, Nicholas said we need to utilise the 4 elements of PACE:

1. Pharmacy – retail partners want more and more of the margin

2. Adjacencies: reaching beyond the 6 core categories of OTC and seeing where we can branch out.

3. Consumer – We need to make sure we are targeting the right demographics

4. e-commerce.

Who will win at e-commerce? Manufacturers of big OTC brands could be pushed out as there are thousands of suppliers offering a cost +10% basis. There is a challenge to change our ways but no company is devoting resources to e-commerce