OPPORTUNITY AND DEVELOPMENT OF PHARMACY BUSINESS AFTER NOVEL CORONAVIRUS 2019 OUTBREAK
DOI:
https://doi.org/10.14456/tbps.2020.17Keywords:
Pharmacy, Development guideline, PESTELAbstract
In the first half of 2020, Thailand was faced with the crisis of the novel coronavirus 2019 outbreak leading to economic slowdown and regression. Even though community pharmacies provide the primary service of having the role in medical supply and promoting suitable drug use in the community, it also can be a profitable retail business. During the outbreak crisis, some areas of the pharmacy was income impacted, but after the outbreak crisis, the recovery was still uncertain which might expand to the operation and profitability. The analysis for the opportunity in crisis then used to develop the pharmacy might be the way to allow the business to grow. This article aimed to suggest the opportunity and development of pharmacies after the novel coronavirus 2019 outbreak. The analysis employed PESTEL and several development concepts such as the participation in “get the medicine from pharmacy to reduce congestion at the hospital” and “Pracharat Blue Flag Project”. The use of technology to enhance the service efficiency such as clients/patients record, public relation, teletechnology to give health and medicine advice and the development of pharmacy area management to be proportional, clean, beautiful and attractive for Thai and foreigners who were customers or tourists that will increase after the crisis. The development from these guidelines might help pharmacies in long-term growth and to help the community as a whole.
References
Department of Disease Control. Emergency Operation Center. Coronavirus disease 2019 (COVID-19) situation report [Internet]. Nonthaburi: The Department; 2020 [cited 2020 May 15]. Available from: https://ddc.moph.go.th/ viralpneumonia/guidelines.php (in Thai)
Bangkokbiznews. Unemployment fears on the rise [Internet]. Bangkok: Bangkokbiznews; 2020 [updated 2020 Jul 13; cited 2020 Jul 28]. Available from: https://www.bangkokbiznews.com/news/detail/889009?utm_source=homepage_hilight&utm_medium=internal_referral&fbclid=IwAR1l6reENgyqCyn_cYBIWrdFHKT3M7PwTBoJiAAM_HqEMUQOGEVmk4cTzoc (in Thai)
Bank of Thailand. Business outlook report [Internet]. Bangkok: Bank of Thailand; 2020 [cited 2020 May 14]. Available from: https://www.bot.or.th/Thai/Monetary Policy/EconomicConditions/BLP/BLP_TH_Q1_2020_cbkhlkip.pdf (in Thai)
IMFBlog. The great lockdown: worst economic downturn since the great depression [Internet]. Washington (DC): IMF; 2020 [updated 2020 Apr 14; cited 2020 Jul 28]. Available from: https://blogs.imf.org/2020/04/14/the-great-lockdown-worst-economic-downturn-since-the-great-depression/
Suwannatat P. Thai consumer behavior affects from Covid-19 [Internet]. Bangkok: Brand Inside; 2020 [updated 2020 Apr 15; cited 2020 May 6]. Available from: https://brandinside.asia/thai-consumer-behavior-affect-from-covid-19/ (in Thai)
Community Pharmacy Association (Thailand). Drugstores of community pharmacy [Internet]. Bangkok: The Association; 2019 [cited 2020 May 6]. Available from: http://pharcpa.com/share/file/file_241.pdf (in Thai)
Pithayanukul S, Chara-um S. The decision making of Thai consumers towards pharmacies using. J Bus Adm (APHEIT). 2017;6(2):135-45. (in Thai)
Longtunman. Boots or Watsons, who is bigger? [Internet]. 2017 [updated 2017 Sep 12; cited 2020 May 16]. Available from: https://www.longtunman.com/1968 (in Thai)
Prasert P. Receive-medicine-at-pharmacy project towards to sharing business, government budgets share to business sectors [Internet]. Bangkok: komchadluek; 2019 [updated 2019 Dec 3; cited 2020 May 19]. Available from: https://www.komchadluek.net/news/breaking-news/ 391547 (in Thai)
Jareeratanaprakorn R. Compare with Boots-Watsons-Tsuruha, who will have leverage [Internet]. Bangkok: ThaiFranchiseCenter; 2019 [updated 2019 Aug 30; cited 2020 May 17]. Available from: http://www. thaifranchisecenter.com/document/show.php?docuID=4969 (in Thai)
Marketeer. Drugstore market: although local chain is small but it gains an advantage [Internet]. Bangkok: Marketeer; 2018 [updated 2018 Aug 10; cited 2020 May 21]. Available from: https://marketeeronline.co/archives/67351 (in Thai)
Food and Drug Administration. Medicines Regulation Division. Searching and statistic [Internet]. Nonthaburi:The Division; c2016 [cited 2020 May 17]. Available from: http://www.fda.moph.go.th/sites/drug/SitePages/Statistic.aspx (in Thai)
Prachachat Business Online. Shutdown 5,000 pharmacies avoiding new laws unqualified FDA takes the market [Internet]. Bangkok: Prachachat; 2020 [updated 2020 Feb 3; cited 2020 May 17]. Available from: https://www.prachachat.net/marketing/news-417107 (in Thai)
Pattarat. COVID-19 affects Thai consumers “beer-vehicles” coma: people are afraid of going to the mall though covid-19 is under control [Internet]. Bangkok: Positioning; 2020 [updated 2020 Apr 15; cited 2020 May 17]. Available from: https://positioningmag.com/1273606?fbclid=IwAR2lYakSzQ3F1sF4sjgwVo-tBL9kYXasaB2NzWtsJHEnDIuqvrFEixgEsH4 (in Thai)
Torgerson E. Independent vs. chain pharmacies [Internet]. Fitchburg (WI): National Cooperative; 2019 [updated 2019 Apr 4; cited 2020 May 16]. Available from: https://www.nationalcooperativerx.com/independent-vs-chain-pharmacies/
Marketing Pharmacist. Drugstore 3.5 ten billion growth [Internet]. 2018 [updated 20218 Nov 10; cited 2020 May 19]. Available from: https://mktpharma.wordpress.com/ 2018/11/10/ร้านขายยา3-5หมื่นล้านเฟื/ (in Thai)
Promrekha R. Chain store: competition and development in medicine market. Compet Focus [Internet]. 2013 [cited 2020 May 19](10):1-2. Available from: https://otcc.or.th/ ebook/2019/04/23/10-ebook/ (in Thai)
Office of National Higher Education Science Research and Innovation Policy Council (NXPO). Thailand’s post-COVID scenarios and strategic issues. [Internet]. Bangkok: NXPO; 2020 [updated 2020 May 1; cited 2020 May 19]. Available from: https://www.nxpo.or.th/th/4124/ (in Thai)
Sanguanprasit C. TMB Analytics: the shape of the COVID-19 economic recovery; 3 scenarios for Thai business sector and employment [Internet]. Bangkok: The Standard; 2020 [updated 2020 May 15; cited 2020 May 17]. Available from: https://thestandard.co/tmb-analytics-3-thai-business-and-employment-assumptions/ (in Thai)
Rothaermel FT. Strategic management: concepts and cases. New York: McGraw-Hill/Irwin; 2012. p. 56-61.
Yüksel I. Developing a multi-criteria decision making model for PESTEL analysis. Int J Bus Manag. 2012;7(24):52-66.
Oxford College of Marketing. What is a PESTEL analysis [Internet]. Oxford: The College; 2016 [cited 2020 July 15]. Available from: https://blog.oxfordcollegeofmarketing. com/2016/06/30/pestel-analysis/
UKEssays. Alliance boots pestel analysis business essay [Internet]. Nottinghamshire (NG): UKEssays; 2018 [cited 2020 July 15]; Available from: https://www.ukessays.com/ essays/business/alliance-boots-pestel-analysis-business-essay.php?vref=1
Global Compose. Sample essay on PEESTEL analysis of CVS pharmacy [Internet]. Houston (TX): Global Compose; 2017. [updated 2017 Nov 7; cited 2020 July 15]; Available from: https://www.globalcompose.com/?s=Essay+on+pestel+analysis+of+cvs+pharmacy
Case Stream. Ibm Watson case PESTEL analysis [Internet]. 2020 [cited 2020 July 15]; Available from: https://casesteam.com/kelloggs/ibm-watson/pestel-analysis.
Ministry of Public Health (Thailand). Office of the Permanent Secretary. Strategy and Planning Division. Five-year national strategic plan for public health (2017-2021) [Internet]. Nonthaburi: The Division; 2017 [cited 2020 May 17]. Available from: http://www.ckh.moph.go.th/ hospital/file/sl81036_094659.pdf (in Thai)
National Health Security Office. National Health Security Office invites 4 groups of the patients get the medicine at the pharmacies near their home without going to the crowded hospital reducing covid-19 risk [Internet]. Bangkok: The Office; 2020 [updated 2020 Mar 8; cited 2020 May 17]. Available from: https://www.nhso.go.th/ FrontEnd/NewsInformationDetail.aspx?newsid=MjcxMw== (in Thai)
National Health Security Office. Pharmacy registered with the MOPH to reduce congestion at hospitals [Internet]. Bangkok: The Office; 2020 [updated 2020 Apr 1; cited 2020 May 17]. Available from: https://www.nhso.go.th/ FrontEnd/page-contentdetail.aspx?CatID=MTI4OA== (in Thai)
Office of the National Economic and Social Development Council. NESDC economic report: Thai economic outlook in first quarter of 2020 and forecasts [Internet]. Bangkok: The Office; 2020 [updated 2020 May 18; cited 2020 May 18]. Available from: https://www.nesdc.go.th/ewt_dl_ link.php?nid=10212&filename=QGDP_report (in Thai)
Rodmuan K. The outbreak of COVID-19 has caused Thai economy to drop [Internet]. Bangkok: Thaipost; 2020 [updated 2020 Apr 8; cited 2020 May 18]. Available from: https://www.thaipost.net/main/detail/62427 (in Thai)
SCB Economic Intelligence Center. EIC evaluates 2020 and its wide impact: people tend to be unemployed the most in the history emphasizing household sector [Internet]. Bangkok: SCB; 2020 [updated 2020 Apr 20; cited 2020 May 18]. Available from: https://www.scbeic.com/th/detail/ product/6775 (in Thai)
Sorat T. Unemployment situation and new normal ease Covid-19 curbs [Internet]. Bangkok: Econthai; 2020 [updated 2020 May 9; cited 2020 May 18]. Available from: http://www.tanitsorat.com/file/รายงานพิเศษ%20สายงานเศรษฐกิจอีคอนไทยสถานะการว่างงานและนิวนอร์มอลคลายล็อคไวรัสโควิด-19.pdf (in Thai)
Foundation of Thai Gerontology Research and Development Institute. Situation of the Thai elderly 2016 [Internet]. Bangkok: The Institute; 2016 [cited May 17, 2020]. p. 8. Available from: http://www.dop.go.th/en/ know/2/108
Karaket J. Thailand and aging society [Internet]. Nakhon Pathom: Institute for Innovative Learning, Mahidol University; 2019 [updated 2019 May 15; cited 2020 May 17]. Available from: https://il.mahidol.ac.th/th/i-Learning-Clinic/general-articles/ประเทศไทยกับสังคมผู้สู/?fbclid= IwAR03nffrMoSlLtfEVsMTSwMtSqoog5f2UuQXl-aLFfMOgUcCUKa2HS7ZFF4 (in Thai)
Wunderman Thompson Thailand. COVID-19 helping clients plan for uncertainty [Internet]. Bangkok: Wunderman Thompson Thailand; 2020 [updated 2020 Apr 15; cited 2020 May 17]. Available from: https://www.dattel.asia/wp-content/uploads/2020/04/Wunderman_Thompson_Thailand-Dattel_Covid-19_Helping_Clients_Plan_for_Uncertainty _15042020.pdf
Marketingoops. “COVID-19” troubles, how “digital” react? Check insights consumers in the first quarter of 2020 with “new normal” happening!! [Internet]. Bangkok: Marketingoops; 2020 [updated 2020 Apr 25; cited 2020 May 17]. Available from: https://www.marketingoops.com/ digital-life/digital-2020-april-global-statshot-report/?fbclid=IwAR38TM354mKOnvHWXLkxzhbZZ2oS9bMXJ3yw0L2w4QvUZA5SgXbaezSTpNs (in Thai)
Marketingoops. WPP group reports Thai consumer behavior changed to 10 new normal behavior between covid-19 period [Internet]. Bangkok: Marketingoops; 2020 [updated 2020 Apr 24; cited 2020 May 12]. Available from: https://www.marketingoops.com/reports/behaviors/wpp-group-social-distancing-covid-19-change-consumer-behavior-to-new-normal/?fbclid=IwAR38TM354mKOnv HWXLkxzhbZZ2oS9bMXJ3yw0L2w4QvUZA5SgXbaezSTpNs (in Thai)
Hopkins JS. Mail-order drug delivery rises during Coronavirus lockdown [Internet]. Washington (DC): APHA Pharmacy Today; 2020 [updated 2020 May 13; cited 2020 May 13]. Available from: https://www.pharmacytoday.org/ trends/trends-2020-05-13-story1
Goundrey-Smith S. Examining the role of new technology in pharmacy: now and in the future. Pharm J [Internet]. 2014 [cited 2020 May 16];Suppl:11134174. Available from: https://www.pharmaceutical-journal.com/examining-the-role-of-new-technology-in-pharmacy-now-and-in-the-future/11134174.article
Wongsuphasawat K, Kittisopee T, Powpaka S. The relative importance of store attributes on consumers responses toward drugstore: the moderating effect of buying purposes. Thai J Hosp Pharm. 2008;18(1):10-26. (in Thai)
Sutaksina W. Factors affecting buying decision on medicine in drugstores in Bangkok [master's thesis]. Bangkok: Thammasat University; 2015 [cited 2020 May 16]. Available from: http://ethesisarchive.library.tu.ac.th/thesis/2015/ TU_2015_5702030627_3573_1986.pdf (in Thai)
Puengjit R. Kumlangphaet W. The study of consumer behavior in pharmacies, Bangkok. West Univ Res J Humanit Soc Sci. 2015;1(2):48-61. (in Thai)
Saejew O. Factors affecting customer's satisfaction in chain drugstores in Bangkok [master's thesis]. Bangkok: Thammasat University; 2017 [cited 2020 May 16]. Available from: http://ethesisarchive.library.tu.ac.th/thesis/2017/ TU_2017_5902031409_7346_5975.pdf (in Thai)
Akarachantachote N, Tantawanich S, Phataranavik P, Rattanathepee U. The clustering of type 1 pharmacies. RMUTSV Res J. 2018;10(2):289-306. (in Thai)
Downloads
Published
Issue
Section
License
All articles published and information contained in this journal such as text, graphics, logos and images is copyrighted by and proprietary to the Thai Bulletin of Pharmaceutical Sciences, and may not be reproduced in whole or in part by persons, organizations, or corporations other than the Thai Bulletin of Pharmaceutical Sciences and the authors without prior written permission.
