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Creating an online pharmacy

Bullionstar

Bullionstar

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Have you ever woke up early on Saturday mornings or having to rush off from office just to purchase some healthcare products from the hospital’s pharmacy for your family members? Don’t you just wish for a 24/7 pharmacy store? With Singapore’s rapidly ageing population, an online pharmacy definitely serves a niche demand for the busy working executives taking care of their elderly parents.

CGH mypharmacy
Enter CGH’s mypharmacy, Singapore’s first online pharmacy store. I have been using mypharmacy for the past 4 months to purchase continence products for my dad and I totally love it! I no longer have to wake up early on Saturday mornings or rush down to the hospital from work.The key reasons why I like mypharmacy:

1) Free delivery for minimum purchase of $100 items
2) You can choose to pay by cash, cheque or credit card
3) Loyalty points for redemption
4) Wide range of products
5) Very transparent shipping policy (you can check out the shipping schedule for the expected date of arrival of your purchase).

Online Business Idea
There is definitely a demand for online pharmacies given Singapore’s greying population. If you are interested, you can focus on selling healthcare products rather than healthcare supplements/medicine. Some of the followings you need to consider:

  • Choose a good e-commerce webhost with payment facilities and backend support (for you to do trending)
  • Policies on claims and reversal
  • Ensure that your website content is up-to-date and the design visually pleasing
  • Delivery fee (if applicable)
  • Shipping policy (expected date of delivery for different dates of online booking)
  • Where and how to stock up your goods cheaply
  • Loyalty points to retain customers
  • Decide on the variety of goods to sell

Given that there are so many online e-commerce templates offered by webhosts, setting up an online pharmacy is definitely achieveable for even those without html skill. But in order to compete effectively against big player like CGH, you have to be prudent and plot your business strategies wisely. Just another online business idea for your consideration!

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Updated: December 27, 2014 — 4:26 pm

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