CVS and Walgreens are the Most Popular Retail Pharmacy Choices
January 23, 2014
An ongoing shopper behavior study conducted by The Integer Group and M/A/R/C Research shows that out of the 78 percent of shoppers who fill prescriptions at a retail pharmacy, 23 percent choose CVS and 19 percent choose Walgreens. Only 7 percent choose mail order to fill prescriptions, which is higher than Target, Costco or Sam’s Club pharmacies.
Survey respondents were asked to rank their priorities while shopping at their preferred retail pharmacy. CVS shoppers are most concerned with quality; 68 percent said they want to find the best quality items when doing routine shopping, compared to 48 percent of Walmart shoppers. Walmart shoppers are more focused on cost (58 percent) and also prefer to spend as little time in store as possible. Consistent with their price sensitivity, 37 percent of Walmart shoppers choose its pharmacy due to low dispensing fees. This is compared to 22 percent of Walgreens pharmacy shoppers, who are more likely to focus on time, therefore seek convenient locations and speed of filling prescriptions instead of lower dispensing fees.
Rite Aid shoppers are the most price-sensitive (68 percent said price is their top priority), but don’t mind spending more time in the store seeking the best deals, sales, and promotions. Grocery shoppers, overall, are least concerned with time and experience because the pharmacy is not their main trip driver. Shoppers are there for a weekly stock-up trip and 52 percent choose their grocery pharmacy because they can conveniently pick up a prescription at the same time.
“Recognizing differences across retailers and what shoppers are looking for in each store opens up opportunities to further personalize and connect with individual shoppers and allows retailers to make the in-store experience a positive one by knowing what their shoppers’ priorities are,” said Craig Elston, senior vice president, Insight & Strategy at The Integer Group.
Additional findings in the Healthcare and Pharmacy Edition of The Checkout include:
67 percent of Boomers choose a pharmacy based on their relationships with the pharmacist
50 percent of people most often rely on their general practitioners for health information
21 percent of Millennials go online for health information, compared to 15 percent of Boomers
50 percent of shoppers are regularly reading nutrition labels to help manage their health and wellness