Diabetic consumers spend 35% more on OTC products
Today’s diabetes patients represent a coveted consumer base for retail pharmacy no matter how you characterize that diabetes spend. For example, consumers with diabetes spend 35% more on OTC products than the average consumer, noted Jeff Gregori, group VP consumer and shopper analytics for Nielsen, during a presentation at the 2016 National Association of Chain Drug Stores Total Store Expo. And that’s because diabetes patients index higher across several leading OTC categories — adult incontinence, eye care, foot care and sleeping aids, for example, according to Nielsen sales data.
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“That’s hands down more than any other ailment,” Gregori said, “and it’s because they face so many challenges beyond their initial diagnosis.”
According to the 2015 Nielsen Diabetes Survey, 63% of diabetics who received their diagnosis within the past two years struggle with weight control, and 40% find staying fit or in shape challenging. And this doesn’t get much better after time, Gregori noted, because as many as 60% of diabetics who had been diagnosed more than five years ago still struggle with weight control, and 39% with staying fit or in shape.
“There is a real logical connection between that 35% that the overall diabetic spends on OTC,” Gregori said. “The reason for that is they’re struggling. They’re struggling in the beginning, and [the OTC spend] is a consequence of that struggle.”
And that’s just in front of the pharmacy bench. On average, Type 2 diabetics take 5.4 prescription medications, according to Nielsen, with as many as 80% of Type 2 diabetes patients taking an oral prescription medication. For the 52 weeks ended Dec. 26, 2015, sales of diabetic-related products totaled $592 million, Nielsen reported, representing growth of 5.1%. In addition to nutritional supplements, which accounted for 29% of that spend, total diabetes-related products included blood-glucose meters, cough-cold and allergy products and lancets and syringes.