Greek Online Pharmacies: Sales up 7% in Q1 2023

A growth rate of 7% and total online sales of 69 million euros were recorded by Online Pharmacies, during the first quarter of 2023. The average price of the value of the electronic basket increased by 9% and stands at 43.70 euros compared to 42.90 in the corresponding period of 2022.

Purchases from online pharmacies do not include over-the-counter medicines (non-prescription medicines), as Greece is the only country in Europe that has not been harmonized with European Directive 2011/62/EU and European Regulation 699/2014 ​, while it has not even implemented the relevant OECD recommendation for online pharmacies, as recorded in a report by the Organization in 2017 on the competitive conditions of the sector. In fact, the joint ministerial decision of April 20, 2022 determines that in Greece it is forbidden to sell MISIFA online, and they can only be available in physical pharmacies.

These data along with many more valuable findings are included in the quarterly report published on Friday by Convert Group.

Among the categories that increased in value (€) of online purchases at 3-month level, the following stand out: +7% in beauty and personal care products, +2% in nutritional supplements and vitamins and +2% in baby and children’s items. Health products experienced a 31% drop in sales, as products that were long in the highest demand positions (such as protective masks and coronavirus diagnostic tests) are no longer a priority for the buying public.

The biggest finding of Convert Group’s quarterly report is that for the first time in years there is restraint in discounting on online channels, as the percentage fell to 38% on Recommended Retail Price from 43% in the corresponding period last year.

In the marketing channels, on a quarterly basis, Google ads are still in first place bringing 45% of the total transactions, and marking an increase of 6 points compared to the previous year. Also, price comparison platforms are responsible for 15% of transactions, while Organic Results for 14%

Consumers continue to show their preference towards mobile & tablet devices for making their online purchases with a percentage of 67% compared to desktop & laptop devices (32%). In terms of placing orders, morning and midday hours (9:00-12:00 and 12:00-15:00) are preferred, while Monday and Tuesday are the most popular days.