The online pharmacies’ sales were reduced in 2024 as a result of the Development Ministry’s directive regarding discounts and the demographic problem.
The financial hardship of consumers was also reflected in the online pharmacy basket, as fewer and smaller orders were recorded in the previous financial year.
In particular, the online pharmacy market recorded a drop in sales and, as Convert Group explained, it is the first time that a lower turnover has been recorded since 2019.
Overall, the sector’s retail turnover amounted to 278 million euros, down 1% compared to the previous year. In 2022, turnover reached 269 million euros, recording an increase of 12% while it totaled 282 million euros in 2023, recording an increase of 5%. According to Convert Group executives, the online pharmacy sector has experienced double-digit growth rates in the past, due to the large discounts compared to the traditional pharmacies, the ease of service and the greater variety compared to the neighborhood pharmacy.
The change in the market began in September 2023 due to the harmonization with the instructions of the Development Ministry on the way discounts are displayed and communicated in physical and online stores, which affected the perception that the general public had about the discount orientation of online pharmacies.
In addition, the significant drop in births recorded in the last 2 years compared to previous years led to reduced purchases of the baby products category in 2024 by 15% in value, creating another headache for pharmacists and companies active in e-commerce.
In 2024, the actual discounts directly recorded by online pharmacies were 38% on the Suggested Retail Price.
