Articles Tagged with ''drug stores''

Inflation has accelerated the trend of higher-income consumers shopping at dollar stores, experts report.

As consumer behavior has changed significantly since the onslaught of the COVID-19 pandemic, inflation is having a momentous impact on drug and dollar store channels, experts note.

Known as the place to pick up your meds along with those “few extra things,” drug stores are now exerting extra effort to compete with online retail giants, accommodate consumers’ growing health needs and demands, and leveraging technology to enhance their offerings.

With more consumers using click-and-collect models and home delivery for prescription medications, eCommerce continued to drive double-digit growth in the non-traditional drug store channel, which generated $264.5 billion in sales, a $14.3 billion profit and a 1.4 percent growth rate from 2010-2015, according to IBISWorld’s December 2015 report titled “Pharmacies & Drug Stores in the US.”

Although consumers tend to be loyal to their preferred drug stores, 30 percent are more likely to patronize a drug store if it has a loyalty card that offers savings, thus increasing shopper loyalty, according to Diana Smith, senior research analyst of retail and apparel at Mintel.