Priceline growing to 440
July 21, 2016
AUSTRALIAN Pharmaceutical
Industries says its Priceline-branded
network will reach 440 stores by
the end of next month, boosting
net numbers by 20 on 2014/15.
In a presentation to investors
this week API ceo Stephen Roche
highlighted
the
“sustained
growth with
momentum”
experienced by Priceline, which
last year recorded sales in excess of
$1 billion at the register excluding
dispensary, with gross profit
increasing year on year.
Interestingly, the presentation
also revealed that prescription
growth through Priceline stores
is more than double that of the
Pharmaceutical Benefits Scheme,
with Priceline dispensary volume
up 5.2% compared to the total PBS
growth of 2.25% in 2015.
Priceline also grew its market
presence in front of shop, with
the company boasting a 21%
market share in skincare, 43.5%
in cosmetics and 40% in beauty
accessories according to Aztec/
Neilsen figures.
The brand is firmly focused on
women and claims a 93% reach
among females 18+ in Australia.
Lynne Gallucci, API’s general
manager retail operations,
also took part in the update,
highlighting Priceline’s “unique
service proposition” which aims
to leverage the specialist roles of
pharmacists, pharmacy assistants,
health advisors and beauty advisors.
She also detailed the Priceline
Sister Club
loyalty
program
which now
claims 6.1
million members, who on average
spend 41% more than nonmembers.
This year Priceline is rolling out
a Next Generation store which
builds on the success of the brand
and will take it into a “new era of
competition,” according to Gallucci.
Roche also noted the increasing
returns to shareholders as the
network grows, with incremental
earnings almost tripling if the group
expands to 600 stores.
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