Bluefin Payment Systems’ Post

Headlining this week's CHC Newsflash: Walgreens has lowered the prices of 1,300+ national and store brand products across health & wellness, personal care and seasonal categories. The company also plans to introduce a series of promotional campaigns, including the return of the popular myW Days in mid-July 2024. Examples of price reductions include: One A Day (Bayer) 80-count Men's and Women’s Gummy Vitamins now US$11.99 (down from US$13.49); Salonpas Pain Relief Patch (Hisamitsu America) now US$10.99 (was US$11.99); and Eucerin Advance Repair Hand Cream (Beiersdorf) now US$5.99 (vs US$7.29). Prices may vary by location, Walgreens.com and the Walgreens app. “Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials,” said EVP, President, Walgreens Retail & Chief Customer Officer, Tracey Brown. Value is one of the main talking points in our Strategic Narrative 2024, which is the backbone of my Global Trends presentations. In the case of Walgreens, it comes down to reducing the prices of more than 1,300 brands. Presumably, the major marketers are funding all or part of this price-cutting. That makes perfect sense as a large cohort of consumers just don't have the disposable income even for must-have products. So trading down to store brands or generics is a clear way forward, as is buying smaller packs or responding to price-cuts. But as I’ve said a thousand times, value isn't always about price. If a product has improved efficacy, consumers may be prepared to pay more and still believe that this was good value for money. “Get to work, get the kids to school” is a powerful proposition! To read more of my thoughts on this and other key CHC headlines and developments, trial our combined news service by contacting Melissa #consumerhealthcare #CHC #CHCNewsflash #CHCNewDirections #Walgreens #USA #value #pricing

🏪 Last week, I read that Asda is stocking a home heart test kit that delivers cardiovascular results to the NHS within minutes. 🫀 The test, developed by PocDoc, provides a full cholesterol profile, heart age, and even the risk of having a heart attack or stroke – all for under £10, available in 242 of its pharmacies. 💡 Why is this significant? 🌅 Asda’s move signals the dawn of a new era where supermarkets play a pivotal role in democratising access to personalised health insights. The convenience of picking up a test kit during a grocery run and sharing the results with your healthcare provider in minutes marks a radical shift in how we think about preventive healthcare. But this is just the beginning... 📑 In our recent Future of Mission-Driven Gut Health report, I discussed how supermarkets could lead a similar revolution in gut health by partnering with microbiome test providers. 🛒 Imagine getting a gut health test for a fraction of the current cost (£250+ via D2C brands) while doing your weekly shop. The tangible educational and nutritional impact on both individual health and the health of the nation could be transformative. Want to know more? Download the full Gut Health Report here 👇 🔗 https://lnkd.in/e9T4QESQ #Retail #Supermarkets #GutHealth #Innovation #HealthTech #Tesco #Asda #Sainsburys #Morrisons

Costco's new weight-loss program merges grocery with pharma, setting a new bar for customer loyalty. 🛒💊 This blend of health and retail sparks a major shift. How will this integration affect wellness access and retail dynamics? Could this be the future of shopping? https://lnkd.in/gtgwY4DM #RetailInnovation #HealthAndWellness #CustomerLoyalty #foodtrends

America’s drugstores are testing smaller locations and more ways to offer care as price-sensitive shoppers look elsewhere. Customers may see Walgreens stores that are one-fourth the size of a regular location or CVS drugstores with entire primary clinics stuffed inside. If these experiments succeed, the new stores might improve access to care and create a more lasting connection with customers, analysts say. #healthandwellness #pharmacyretail

What does it take to engage 74 million loyal shoppers, both online and in-store? 🤔 The retail media arm of the largest retail pharmacy chain, CVS Pharmacy, is showing how it’s done. Hear from Pamela Young, Head of Sales for CVS Media Exchange (CMX), to learn more about their #RetailMedia offering and how they leverage over 25 years of ExtraCare membership loyalty to enhance the experience for brand partners and shoppers. Watch the full video 🔗 https://lnkd.in/dgbKPsrM #CVSHealth #AdTech #CMX #MeetTheRetailers

Are you interested in how top retailers in North America are approaching their Retail Media strategy? Check out this great interview with Pamela Young from CMX, who provides an amazing overview of CVS and how they use their impressive loyalty program to enhance their RMN!

When it comes to customer experience at the nation’s largest retail pharmacy chains, there is plenty of room for improvement, according to Tilak Mandadi, the chief digital, data, analytics and technology officer at CVS Health. Among other things, customers can be caught off guard by the price of their prescriptions when they go to pay, they might face never-ending menu options when calling customer service, and if they want to quickly pick up toiletries, they often find them locked up in cases. A shortage of pharmacists isn’t helping matters, either. And although #technology has revolutionized the consumer experience for ordering pizza and calling taxis, complex legacy systems and strict regulations around #health #data have made it slower to transform #pharmacy and #healthcare.

📈 Subscribers, our EVP Michael Blackburn has the scoop on Walgreens : Despite challenges 2Q24 sales surged by 6.3%, but with a twist! Dive into the details of the roller-coaster quarter, from improved pharmacy sales to surprising setbacks. https://shorturl.at/mvRZ4 🛒💊 #Walgreens #WBA #QuarterlyResults #RetailPharmacy #Healthcare #EarningsReport

#Walgreens and #CVS are testing smaller stores and offering more #healthcare services to attract customers. The new stores are less expensive to run and can serve areas without enough people to support a larger store. CVS Health is opening primary care clinics inside some of its stores, targeting areas that need primary care. #Independentpharmacies are also expanding their #healthcare services, such as offering immunizations and testing. The shift towards healthcare services reflects the changing landscape of the #drugstore industry, which is facing increased competition and changing customer preferences.

The corner of Happy and Healthy is getting downsized. Drugstores are taking a page from retailers and going small. From Walgreens to CVS, the chains are testing out smaller locations complete with clinics inside to better connect with customers. A bigger part of the issue has to do with rising real estate costs and markets that are simply oversaturated. In cities like San Francisco, Walgreens and Starbucks are practically interchangeable, popping up on every block. While providing convenience and access to customers may have been the name of the game, it's arguably also way too much. Growing competition from big box retailers like Walmart, rising costs, shrinking reimbursement rates, and increasing theft have made that 'grow like weeds' strategy an unmanageable one. The other issue has to do with the expansion of drugstores into the healthcare industry. Running a drugstore is very different from running a full-scale clinic, and too many aren't properly staffed to even provide the most basic services such as vaccinations. Sizing down is the new strategy which has its pros and cons. Gone are the large tabloid magazine racks and the extensive greeting card selections. Drugstores are going small, offering smaller selections of items and more focus on health services. The clinics can have primary care doctors, social workers and people to help with insurance coverage, which is good for patients. Of course, there's a flip side to all this. Chains like Walmart and even Costco are expanding their offerings, which provides a one-stop shop where customers can shop for groceries and pick up their prescriptions. Shrinking down is a gamble for drugstores especially depending on their location. While the strategy may make sense in big cities, it doesn't make so much sense in smaller cities and rural areas. In fact, drugstore closures are already leaving gaps in minority neighborhoods. On the surface, the focus on building closer relationships with customers is a positive one. The challenge for drugstores is determining whether they're sacrificing too much in terms of convenience and access. And more importantly, companies like Walgreens and CVS still need to figure out if they can adequately provide clinical services to their customers, while carving out a space in a tough overall retail environment https://lnkd.in/gccbndZW #drugstores #pharmacy #retail #healthcare #clinics #walgreens #cvs