One of the most clever things a store can do is uncover a way to simply get more customers walking in the doors. Everything else (sales) tends to fall into place once you figure out how to do that. And these days no idea is left unturned, so it’s news when someone figures out how to get more people in the door.
Wal-Mart will do it by cutting costs on prescription drugs, over-the-counter medications. Maybe this seems like no big deal, but it is, because all they’ve done is find another way to convince shoppers to shop Wal-Mart first for staple items. And yes, drugs and meds are absolutely staple items in the U.S. in 2008.
Details:
- Over 1,000 over-the-counter products sell for $4 or less.
- Some 90-day prescriptions are only $10.
- $4 prescriptions already account for 40% of prescription business at Wal-Mart and Sam’s Club. (Can you IMAGINE how much money 40% of their script biz is?)
Other retailers have tried to compete with Wal-Mart in this arena, and Wal-Mart has even made some of these efforts in response to the competion. But who do you think will end up winning? It’s tough to bring down the giant.
(Now if only we could create a book to merchandise in the pharmacy…)
