Press release
When Pharmacies Close, Grocery Stores Deliver
Over the past few years, major pharmacy chains have closed thousands of stores across the country. While the speed of these closures is unprecedented, this trend has been building for more than twenty years. Between 2010 and 2021, nearly 30% of US pharmacies closed.
Because many of these closures occur in lower-income neighborhoods, and contributing to a rise in pharmacy deserts.
For many communities, grocers with in-store pharmacies are filling the void.
The opportunity
Today, six in ten adults in the US take at least one prescription, and 25% take four or more. With more of these individuals visiting in-store pharmacies, in addition to meeting a critical need in underserved communities, grocers can seize this moment to improve the customer experience, increase shopper loyalty, and drive growth.
Pharmacists have the training and licenses to provide healthcare offerings that go far beyond medication dispensing–for example, vaccinations, blood pressure screenings, and disease management consultations. By offering these services during a routine grocery shop, stores can provide additional convenience and value to customers.
There are also major benefits to be achieved from connecting the pharmacy to the front of store, including increased shopping basket size. As pharmacists are among the most trusted healthcare providers, product recommendations can be made through one-on-one consultations. Stores can also offer holistic healthcare apps that provide nutritional guidance and product promotions in the same tool where consumers manage their medications and fitness–offering shoppers a way to get and stay healthy.
The bottom line
Navigating this increase in traffic is not without its challenges. Many pharmacies are already short staffed and, as lines grow longer, team and shopper frustration is likely to rise as well. Grocers will need to invest in pharmacy systems and tools that streamline workflows and ensure a better experience for both customers and employees.
But, the potential rewards are immeasurable. And, for grocers serving rural or underserved areas, the opportunity is particularly meaningful: these stores may be the only place an individual can access their medications or receive regular care.
In the face of widespread uncertainty, independent grocery stores are uniquely positioned to give shoppers a reliable place to not only access their medications, but improve their overall health. And the opportunity is yours to fill.
This article was originally published by the National Grocer’s Association.
Sources:
KFF: “Public Opinion on Prescription Drugs and Their Prices”
Health Affairs: “Trends in Retail Pharmacy Closures”
Supermarket News: “Unprecedented Pharmacy Closures Are Leaving Many Without Access”
Kiplinger, FT, The Sun: Reports on recent store closures at Walgreens, CVS, and Rite Aid