Online OTC healthcare segment witnessed exponential growth reaching Rs 2.5 million, with year-on-year growth of 65 in 2011-2012. The market is stipulated to grow at 35-40 annually in next 18-24 months (2012-2014). The segment witnessed strong transaction volume sales of 40% on year-on-year basis in 2011-2012. Fast moving lifestyle along with pollution and stress across personal-professional cycles are core drivers of online OTC healthcare segment in Bangalore. Further, majority of consumers are shifting towards nutritional supplement and healthier lifestyle enhancing online transactions for non prescription based drugs in Karnataka capital city.
Three online platforms control 100 of Bangalore OTC healthcare virtual marketspace in 2012. Healthkart.com is the market leader with transaction volume share of 75. Bigbasket.com is the fastest emerging online OTC healthcare platform offering product portfolio of 125 non prescription drugs in Bangalore in 2011-2012.
[...] In May 2012, Bigbasket.com introduced 1-2% discount programme on majority of its 125 OTC healthcare product catalogue to improve volume sales. Further, Healthkart.com launched three month long buy one Tier2RetailResearch India Pvt Ltd | Confidential 35% 30% 15% 20% Source: Survey results with online OTC healthcare website executives (Oct-Nov 2012) Bangalore: Online OTC healthcare Market Outlook 2012 get one free promotional campaign between JanuaryMarch 2012. Bangalore and Hyderabad are the biggest markets for online OTC healthcare owners such as bigbasket.com and healthkart.com in 2012. [...]
[...] Chained pharmacy operators such as Religare, Medplus, Trust and Apollo will enter into online OTC healthcare and ayurvedic marketspace offering virtual and mobile based transaction options by 2015. Higher overhead expenses related to offline selling space (average commercial rentals increasing in Bangalore) along with shift of consumers towards traditional brick Tier2RetailResearch India Pvt Ltd | Confidential Bibliography 1) Survey results with online OTC healthcare website executives (Oct-Nov 2012) 2) www.euromonitor.com Bangalore: Online OTC healthcare Market Outlook 2012 & mortar chemist outlets will drive chained pharmacy specialist virtual OTC healthcare factory initiatives. [...]
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