The Drug Store Shopper - US - February 2015
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- health and wellbeing
- February 2015
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“Retail channel lines continue to blur with more outlets like mass merchandisers and supermarkets clambering to become consumers’ primary destinations for their drug store needs including OTC and prescription medications. Traditional drug stores can no longer afford to be just drug stores, and should continue evolving their positioning as health and wellness authorities to capture a greater share of younger shoppers highly interested in more effectively managing their health, and who will drive the future of the market.”
– Diana Smith, Senior Research & Apparel Analyst
This report answers the following questions:
The growth in total US retail sales is being influenced by growing populations of key demographic groups – namely adults 55+ and Hispanics. Lingering obesity rates will continue to impact the market as well as the effects of more people now having health care coverage as a result of the Affordable Care Act being implemented. While increasing competition from other channels like mass merchandisers and grocery chains are encroaching on traditional drug stores’ territory, most people still visit drug store pharmacies to fill prescriptions. Retail health clinics have low visitation rates at present but represent an opportunity for future growth as the number of clinics in the US continues to expand.
For the purposes of this report, Mintel has defined a drug store as a retail store where a primary component of the store is a pharmacy, selling prescription medicine and staffed with a pharmacist. Other categories commonly found at drug stores include over-the-counter medicine, beauty and personal care, household needs, and a limited selection of food. When referring to “drug stores,” this report primarily considers those that are traditional drug stores (such as Walgreens, CVS, Rite Aid, etc), not including other retailers with pharmacies such as grocery stores, warehouse clubs, or mass merchandisers. These other retailers are also discussed in the report as locations consumers may shop for drug store items, yet are not referred to as “drug stores.”
While the drug store retailing market is expected to continue growing over the next five years, increased competition from other channels like mass merchandisers, grocery stores, and warehouse clubs that increasingly offer pharmacies and retail health clinics will continue to be a threat to traditional drug stores. The aging US population as well as growth from Hispanics and the spillover effects from the rollout of the Affordable Care Act should benefit the market in the near-term.
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