Terry Yon: In Struggling Economy, Pharmacies Remain Essential
Despite massive cuts in discretionary spending among consumers, the purchases of gas, groceries and pharmaceuticals have not experienced as great of a decline. Terry Yon responds that pharmacies are necessary for our survival.
NEW YORK, NY, June 08, 2012
Although employment rates are on the rise, many consumers are still wary to increase spending on luxury items. A recent article in the San Francisco Chronicle observes a large reduction of discretionary spending. A recent Consumer Insights Panel, conducted by Emphatica, Inc., reveals what types of purchases shoppers have cut back on the most. What the study found was that most people avoid making purchased in electronics, fine dining and furniture. It also revealed that people are not as willing to make cuts in their pharmaceutical, grocery and gas purchases. Terry Yon, owner of TYA Pharmaceuticals, is not surprised by these trends, as pharmacies provide necessities to maintain health.The San Francisco Chronicle states "The survey also found that one in four consumers are cutting spending on pharmaceuticals, with 60 percent spending the same and 15 percent actually spending more." One explanation is that people are simply becoming more health-focused and avoiding unnecessary purchases to avoid more costly events in the future. Terry Yon connects these trends with the supply and demand rates at pharmacies, since many people rely on prescriptions for an extended amount of time.
Patients that rely on insulin for diabetes, antidepressants or birth control are all examples of routine prescriptions that can not be eliminated merely to save money; that action would result in devastating health consequences that could far outweigh the cost of the actual medication.
The article also references the differences in discretionary spending between age groups. Younger consumers, such as those between 18 and 24, are concerned with purchases that supply immediate satisfaction, whereas citizens over the age 60 are more familiar with economic struggles and are more conservative with their spending.
Terry Yon connects this trend to pharmaceuticals, and says that retired persons are more likely to rely on medication, where younger people are typically healthier and have had to spend large amounts of money on prescriptions.
Terry Yon has also researched consumer trends that reveal an even greater reluctance among consumers to cut back on pharmaceutical spending. For Yon, the cause of these trends is a simple matter of survival. "Gas for travel, food for life and drugs for health will remain the top three categories in salaries outgo. People must have transportation, food and take care of their health."
ABOUT:
As owner of TYA Pharmaceuticals, Terry Yon provides manufactured, packaged medications to large institutions. Through attention to detail and heavy focus on client needs, Terry Yon has grown his company into a top pharmaceutical organization in the state of Florida. Terry Yon and his staff at TYA Pharmaceuticals have provided services to groups all over the United States and has maintained a dedication to provide the best in customer case in addition to quality medical products.
Website: http://terryyonassociates.com/