14 April 2020
IQVIA issued the report “Russian pharmaceutical retail market: weekly trends in times of the COVID-19 outbreak based on IQVIA PharmaTrend” which describe the latest market trends.
The report shows COVID-19 progress time lines for Russia, implications for Russia and the pharmaceutical & OTC market players, OTC & Pharmaceutical market updates –monthly view including regions, latest weekly market view with focus on Moscow and St. Petersburg.
Key points of current situation.
In the context of the COVID-19 crisis, Russian OTC businesses are highly disrupted with short term strong demand, limited ability for rep calls potential delivery issues, plus a mid-term economic crisis and impact on consumers:
• Current extreme demand for C&C shifts perspective;
• At the same time reps cannot visit pharmacies & HCPs and this might have a long-term impact on the business;
• Online communication to pharmacists will become more important and should be enriched with value;
• Ecommerce has just been liberalized fast in Russia (direct to home delivery) which will shift the whole market place;
• The current COVID-19 crisis will be followed by a massive economic crisis, leading to reduced spending;
• As a consequence and outright price war can be expected in the crisis which needs to be compensated by additional value creation for the categories & brands.
1. Review of current marketing & sales strategy in all key areas:
• Positioning of key brands – value proposition of total category and your brands – differentiation;
• Promotion strategy – investment in ATL and chains, plus separate topic online – DTC online;
• Distribution strategy – current and future role of doctors (potential lifetime recommender), distributors and the role of the pharmacy chains in online context as recommender plus POS promotion, category management, T&C, and future role of the rep in online context etc.;
• Price strategy in the light of the flow from extreme demand to extreme decline and blurred value proposition – enrich categories and brands with additional value – cross category contribution, plus potential new categories;
2. Renew strategy and update forecasts for at least three different optional scenarios for decision making;
3. Develop implementation plan with complete resource mapping for your Russian business for 2020-2023.
To read and download the full report follow the link here.Print
18 September 2020
18 September 2020
17 September 2020
16 September 2020