The total 2014 combined annual revenue for retail drug industry was $305 billion, according Drug Channels Institute. The biggest retailers in this industry are Walgreen Co., CVS Caremark, Corp. and Rite-Aid, Corp with Wal-Mart and Target developing more of a presence in recent years. Those 3 major retailers make up %70 of the industry revenue. The industry had grown substantially in the last 50 years and will continue to innovate and develop well into the near future. The average age of the U.S. consumer is increasing rapidly as the Baby Boomer generation grows older which leads to increased demand for health services to those who are 65 year old and above. Walgreen primary customer profile is a 25-54 year old woman with two children. This …show more content…
making it the largest retail chain pharmacy in North America. A large chain means a large pool of resources including inventory, talented employees, and knowledge via networking. In addition, Walgreens attempt to provide convenience in its stores by offering drive-through service, all-night hours, snacks, photofinishing, greeting cards, and general merchandise in addition to medications. Also, Walgreen employees are loyal and the company strives to keep their loyalty by taking such measures as making the stores handicapped accessible for workers as well as …show more content…
They are basically a pharmacy that offers many necessary everyday items to consumers. Some of the general categories of items the stores offer are makeup, toys, candy, and toiletries. The store offers private labels, such as Big Flats beer or Walgreens soda. Another offering is manufacturer brands, such as Pepsi soda, Tresemme shampoo, and Crest Toothpaste. Lastly, the company also offers generic brands of some drugs, such as Walgreens Pain Reliever. By having many choices for consumers the store can make the sale and the consumer can get exactly what they want, whether it be the cheap, average, or high end