Convenience store OTC medicines sought during every holiday... product lineup unchanged for 13 years

[Financial News] It has been found that the demand for over-the-counter medicines at convenience stores increases significantly during periods when it is difficult to access pharmacies, such as holiday seasons. Although 13 years have passed since the introduction of the convenience store over-the-counter medicine system, the range of products sold has virtually remained unchanged; consequently, there are calls to expand the product range to better reflect reality in order to enhance public convenience.
According to industry sources on the 26th, CU's sales of over-the-counter (OTC) medicines during last year's Chuseok holiday (October 5–7) increased by 70.1% compared to the same days of the previous week. During this year's Lunar New Year holiday (February 16–18), sales also rose by 88.6% compared to the same days of the previous week. The simple average sales growth rate for these two holiday periods reached 78.9%. This is interpreted as a significant increase in consumers seeking OTC medicines at convenience stores during holiday periods when pharmacies are closed. In particular, actual consumer demand has been confirmed, given that convenience store OTC medicines are a system designed to address mild symptoms during times when accessing pharmacies is difficult, such as late at night or on public holidays.
The over-the-counter (OTC) medicine system was introduced in 2012 to resolve the inconvenience of purchasing medicines during late-night hours and holidays when pharmacies are closed. Currently, 13 types of items, including fever reducers, cold medicines, digestive aids, and pain patches, are permitted for sale at convenience stores. However, due to the discontinuation of production for two types of Children's Tylenol, the actual number of items available for purchase is 11. Although the Enforcement Decree of the Pharmaceutical Affairs Act allows for the designation of up to 20 items, no additional items have been added since the system was introduced.
It is not that there were no discussions at all regarding the expansion of product categories. Between 2017 and 2018, plans to add antidiarrheal and antacid drugs were considered, but no conclusion was reached amidst opposition from the Pharmaceutical Association and others. Discussions were subsequently suspended for a long period, but policy debates resumed in earnest last year.
During the parliamentary audit last October, Minister of Health and Welfare Jeong Eun-kyeong stated that improvements were needed to the system for over-the-counter medicines, which has been in place for over 10 years, to reflect changes in the environment, and expressed her intention to push for adjustments to product categories and relaxation of sales requirements. Subsequently, on November 28 of last year, a policy discussion on "Over-the-Counter Medicines in Convenience Stores for the Promotion of Public Health" was held at the National Assembly, where the government, consumer groups, and the Korean Pharmaceutical Association discussed directions for improving the system.
The government is discussing plans to expand the list of over-the-counter (OTC) medicines from the current 11 to up to 20 in the second half of this year. While antidiarrheals and antacids are being mentioned as potential candidates, the Pharmaceutical Association maintains that a cautious approach is necessary due to safety concerns. However, it is reported that the Committee for Deliberating the Designation of OTC Medicines has not yet been formed, nor has a specific schedule for selecting items been set. This means that there are still procedures to overcome before any additional designations can be made.
Industry experts point out that since expanding the range of over-the-counter medicines available at convenience stores is not merely a matter of increasing sales outlets but rather about improving public access to medicines during hours when pharmacies are closed, the system needs to be revised to take both consumer demand and the safety of medicines into account.
An official from the pharmaceutical industry stated, "Since the volume of over-the-counter medicines sold in convenience stores is very small compared to the total, its impact on sales growth is extremely limited," adding, "I believe a review of over-the-counter medicine items is necessary from the perspective of convenience rather than expanding sales channels."

[email protected] Jeong Sang-hee Reporter