Online pharmacies recorded a sharp decline in sales during the last quarter of 2023 compared to the previous period of the current year, as well as compared to the corresponding quarter of the previous fiscal year.
According to data from Convert Group’s annual survey, based on a sample of 91 online pharmacies, with the participation of 13 of the 15 largest companies, the value of sales of online pharmacies in 2023 registered a moderate increase of 4% compared to double-digit growth of 13% in 2022 and also double-digit growth of 10% in 2021. In absolute numbers, the value of online pharmacy sales amounted to 283 million euros in 2023.
The sharp change in the market took place from September onwards when the value of sales marked a significant decrease of 8% compared to the corresponding quarter of 2022. A determining factor in this phenomenon was the harmonization with the instructions of the Development Ministry regarding discounts and promotions in physical and online stores, affecting to a very large extent online pharmacies, which have always had a discount orientation in their commercial policy.
In a related question from “Naftemporiki” to the Hellenic Association of Electronic Commerce (GR.EC.A), it was emphasized that the technical difficulty of implementing the law, the compliance costs of online pharmacies, but also the fear of imposing excessive fines due to the large number of codes and the risk of errors brought a freeze on discounts and offers in the digital channel as well as a corresponding loss of consumers and revenue.
