Online Pharmacies NPS® Study- Netmeds, 1mg, and more

Recently, NUMR conducted a survey about Online Pharmacies in India. Evidently, it uncovered some interesting insights. Although, still in the nascent stage, the Indian online pharmacy industry consisting of Netmeds, 1mg, Pharmeasy etc. is estimated to reach US $2.7 billion by 2023.  Apparently, increasing smartphone ownership, improved internet access, rising household income and increasing chronic illnesses are some of the factors responsible for driving the growth of e-pharma companies. However, customer satisfaction will be crucial in ensuring which companies comes at the top.

Therefore, here is the result of the survey.

QUESTION
Have you ever used an app or an online website for ordering medicines?

PART 1- NPS® (Customer Satisfaction of major Online Pharmacies)

In summary, out of all the companies used by majority of the respondents,

• LifCare had the highest NPS measuring 87.5
• However, 1mg followed it with  73.68
• Additionally, the NPS for Netmeds was 67.57.
• And, it was 61.76 for PharmEasy.
• Also, MedPlus Mart recorded an NPS of 45.45.

With the medicine delivery market set to exponentially grow over the next few years, I expect the role of customer experience to be the primary differentiator for growth.

-Amitayu Basu, CEO, Numr

PART 2- ONLINE PHARMACIES MARKET SHARE
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QUESTION
Out of the following, which online pharmacies have you used for ordering medicines?

Overall,

• The majority 28% chose Netmeds
• Followed by, PharmEasy with 18%
• And, 1mg with 15%
• Additionally, another 14% reported that they have used MedPlus Mart
• And, 8% chose LifCare
• Furthermore, 6% respondents selected Practo
• And, 5% selected Myra
• Also, 4% revealed that they have used Zoylo

PART 3- REASONS FOR USING ONLINE PHARMACIES
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QUESTION
1. What prompted you to use it?

In conclusion,

• A staggering majority of 56% reported convenience and ease as their reason.
• Similarly, another 22% stated the medicines are cheaper online as compared to a brick and mortar store.
• Additionally, 17% reported that they believed ordering medicines online was faster.
• Furthermore, 5% reported that their medicine was unavailable at their neighbourhood store.

Listen to Amitayu Basu, CEO, Numr speak about the importance of Net Promoter Score for Online Pharmacies

METHODOLOGY

Online Panel

SEC A1

This survey was conducted among the inhabitants of Delhi NCR, Mumbai, Bangalore, Chennai, Kolkata, and Ahmedabad. At the time of the survey, all the respondents were between 25 to 60 years of age. Moreover, they were all affluent vehicle-owners. Additionally, they were also avid moviegoers and extremely aware of the changing technological trends.

*NPS® or Net Promoter Score® is a metric for calculating customer satisfaction and loyalty. It is a proven indicator of Growth. It is based off a single question, that is, “On a scale of 0-10, how likely are you to recommend (a company or a service) to you friends, family or colleagues?” Customers who give a score of 6 or less are called Detractors. Those who give 7 or 8 are Passives where as those who give 9 or 10 are Promoters. Then, the NPS is calculated by subtracting the percentage of Detractors from the Promoters.

NPS® is the registered trademarks of Bain & Company, Satmetrix and Fred Reichheld