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Throwback Thursday: NACDS Total Store Expo edition

BY DSN STAFF

Here at Drug Store News, we’re gearing up for the 2015 National Association of Chain Drug Stores Total Store Expo, which will take place at the Colorado Convention Center in Denver from Aug. 21 to 25.

Take a look at an editor’s note from one of last year's show dailies and check out DSN's 10 tips on how to make the most of this year’s NACDS TSE.

 

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10 things to do at NACDS TSE 2015

BY Lesley Thulin

With the National Association of Chain Drug Stores’ big Total Store Expo, kicking off this weekend in Denver, Drug Store News has compiled a list of 10 things to do to help prepare for success at this year’s show.

1. Download the app.
With the NACDS Events app, users can receive up-to-date conference information and personalize their schedules, search for and bookmark participating companies, and access NACDS social media, TSE said. The app is compatible with iOS and Android devices.

2. Do your homework.
Visit the retailers you want to meet with and familiarize yourself with their business. “Preparation and performing in-depth due diligence prior to attending TSE is critical,” Rich Swanson, principal of The Swanson Group, said.

3. Attend the Meet the Retailer session.
If you haven’t done #2, be sure to catch up by attending these 20-minute power sessions where top retail executives brief closed-door audiences on how to engage with their chains.

4. Attend the Meet the Market session.
Industry vets told Drug Store News that companies should send two to four associates to this event, which showcases new, up-and-coming and small companies the day before the show floor opens. NACDS arranges thousands of appointments for the full day of “speed date” meetings — last year, more than 700 companies participated in Meet the Market.

5. Attend the educational programming sessions.
NACDS will provide educational programming through 10 Pharmacy Insight Sessions on issues spanning from pharmaceutical trends and forecasts, to medication adherence and the role of motivational interviewing. Eight of these sessions are accredited for pharmacist CE.

6. Attend the Business Program.
A good way to remain relevant with the retailers at NACDS TSE is to understand the critical issues that drive and impact their business. The Business Program is a good way to catch up.

This year, television journalist and author Tom Brokaw will offer Sunday’s keynote address. Brokaw’s most recent book, “A Lucky Life Interrupted,” details his experience battling cancer.

7. Hit the show floor…but save something for the evenings!
Dave Wendland, VP of Hamacher Resource Group, suggests dressing comfortably, listening closely and following up quickly with contacts. “Although TSE only lasts a few days, follow-up may go on for weeks/months,” he said. “Don’t forget the importance of keeping promises and commitments when you return from Denver.”

But be sure to pace yourself, because there are tons of networking opportunities outside of standard business hours, including the NACDS TSE welcome event, closing event and nightlife entertainment — this year’s big musical guest, the Goo Goo Dolls will rock NACDS’ Monday night Denver Extravaganza.

8. Do the Product Showcase.
Preparation is the name of game at TSE for retailers and suppliers alike, and retailers looking for hot new products and new merchandising ideas will be hitting the Product Showcase. Want to get a head start? Check out the Product Showcase online before you even hit the show floor. 

9. Vision 2026.
Glimpse into the future of what retail pharmacies will look like in 10 years. Companies, such as Kantar Retail, IBM Watson and Menasha Packaging Company, will offer their perspectives on the changing diagnostic landscape, healthy living landscape, store environment, and economic/logistics engine.

10. Set goals for your time at TSE.
“Set your expectations/objectives in advance,” Matt Poli, head of marketing at the Emerson Group, told DSN. “Create a list of three, five, [or] 10 things you want to accomplish at Expo and stay focused.” 

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Target bullseye focused on evolving two offerings

BY Michael Johnsen

MINNEAPOLIS — Target chairman and CEO Brian Cornell on Wednesday outlined why he's bullish on Target's future: The company is executing against a comprehensive digital offering that will soon deliver two- or three-day shipping to shoppers within striking distance of more than 450 locations and Target is fine-tuning a food product mix designed to resonate with guests. Target is striving to become a leader in digital, Cornell said.
 
“This is critically important because research shows digital relevance drives traffic and engagement across all selling channels,” he told analysts Wednesday morning. 
 
Today, Target is shipping from 140 store locations and plans to expand that shipping capacity to more than 450 stores by year's end. “Ship-from-store capabilities allows us to balance inventory across the network, leverage the capital and labor already in our stores and reach guests more quickly,” he said. 
 
Target will begin testing an available-to-promise solution this fall in which it will offer guests a specific delivery date commitment based on current inventory allocation. “We believe this capability will drive further increases in digital conversion rates, which are already improving rapidly as guests respond to a faster and firmer delivery commitment,” Cornell said.
 
Second on Target's to-do list is evolving category roles.
 
“Beyond our efforts on signature categories, we're also focused on testing and learning how we can reposition our food offering to better serve our guests,”Cornell said. "Through guest research we already know we need to be more clearly highlighting wellness in our food offering, through both assortment and the information we provide,” he said. “We know we have the opportunity to provide fresh, healthy options and more relevant localized assortment … within food, our marketshare in wellness is already double our food share overall.”
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