Mobility analytics and location intelligence play an important role in business by helping to understand the behavioral patterns of consumers in any given zone of interest or point of sale.
Pedestrian flow analysis, location intelligence and point-of-interest categorization have revolutionized the way retail and wholesale industries implement expansion, commercial and operational strategies in the pharmaceutical sector.
The Fischel Nunciatura drugstore, located near La Sabana Park in San Jose, Costa Rica, is a sales point that is a 15-minute walk away and has a potential market of over 23,000 consumers, 11% of whom are interested in health care issues.
Using the Geomarketing solutions we have developed for our clients, CentralAmericaData's Trade Intelligence team analyzed the environment of some of the main locations of the drugstores in Central America. Below is an extract of the study's findings.
In Nicaragua, the Ortega administration ordered the closure of five of the 38 branches operated by the Medco pharmacy chain for having joined the national strike on May 23.
The order to cease operations of the five branches was notified through the Ministry of Health, however, the company will appeal the decision of the authorities.
Laprensa.com.ni review that representatives of the company reported that "...
The owner of Farmacias Fischel has announced the acquisition of 100% of the pharmacy chain La Bomba, in a transaction whose amount was not disclosed.
Grupo Cuestamoras, owner of the Fischel drugstore chain bought the pharmacy chain La Bomba, in a transaction that is still subject to approval by the Commission for the Promotion of Competition.
The Cuestamoras group has announced the purchase of a majority in the Cefa-Fischel corporation, which operates a chain of pharmacies present in Costa Rica and Nicaragua, in addition to laboratories and other drug distributors.
The purchase request was filed with the Commission to Promote Competition by Cuestamoras on May 8, and is subject to approval.
Panamanian pharmacies are offering more than medications, turning into convenience stores.
Capital.com.pa reports that: "This is a business model used by large chain pharmacies in the United States, for whom the Trade Promotion Agreement (TPA) has opened the doors of the country and apparently local pharmacy chains are preparing for possible competition. "
The arrival of Honduran chain Kielsa has raised fears over a market takeover and monopolistic practices.
"This is a Honduran chain entering the market using the hook of discounts and low prices, supposedly favoring large wholesalers, bankrupting small and medium business, and without any counterbalancing competition, they are the owners of the market," said the president of the United Pharmacy Association of Nicaragua (AFUN), Alberto Lacayo.
A study by the Universidad de Costa Rica notes that one company controls the distribution of 80% of drugs sold, with price differences of up to 1,000%.
An article in Nacion.com reports that there is "little or no competition in the private sector of medicine, product of an industry that is "highly concentrated", causing Costa Rica to have higher drug prices compared to other Central American countries."
Corporation Cefa-Fischel is gaining more and more of the market share in Costa Rica, with tactics that are being denounced as anti-competitive business practices.
An article by César Quirós Brenes in Elfinancierocr.com reports on up to what point Cefa-Fischel Corporation has reached in the drug retail sector in Costa Rica: "Of the 950 active pharmacies as of 15 June, 67 (7% of total) are Fischel stores.
More than 700 small pharmacies are still struggling to survive against the competitive advantages of the big chains and supermarkets.
Most of them form the National Union of Pharmacy Owners (Unprofa), whose president Orlando Perez acknowledged that "supermarkets and large pharmacy chains, represent strong competition for the small scale places, seeing the sale of drugs as a business rather than a social service for their communities. "