Headquartered in Deerfield, Illinois, Walgreens is an American company that is the second largest pharmacy store chain in America. It was founded in 1901 and has around 8200 stores in 50 states around America and some stores in South America as well. Moreover, it now operates in 11 other countries as well as a result of its expansion and growth over all these decades.
Walgreens operates in the market where their strategy has always been to focus on the customers and provide them with personal experiences that they could use to improve the health of their patients and customers. Their idea is to improve health and then reducing the total cost of healthcare. They have been determined in providing convenient access to healthcare by introducing their loyalty program through which they keep the data of their patients and provide them with customized needs for their future related to healthcare. With this, they are able to create personal connections with their customers as well as work on their goal of giving better, personalized healthcare to their patients. They work on providing the necessary healthcare whenever the patient wants through their loyalty program and incentives.
Moreover, Walgreens has been working towards healthcare in terms of expansion of their services so they constantly keep on adding services and expanding their business in order to provide the customers with improved healthcare. For this, they invest a lot in their research and development and have expanded in terms of clinical services by targeting and treating chronic diseases and thus eventually improving health of their patients. This is also connected to their loyalty programs through which they let the patients know when they need these vaccinations by keeping their data. Through this, the patients feel connected and can rely on Walgreens regarding their healthcare. This creates a huge competitive advantage for Walgreens.
Walgreens also has a competitive advantage because of the placement of their pharmacies. For instance they plan ahead by placing the convenient stores in every possible location so that their potential customers would find it easier to connect with Walgreens in terms of their healthcare solutions. They also additionally work on their stores by adding more convenience physically which shows the patients that their business is making beneficial changes. Moreover, they have also located their stores in various countries which show that they have worked on their expansion and growth and they bring more profit for their business by moving to other locations.
Walgreens is also expanding in terms of their acquisitions with different hospitals through which they are able to place their pharmacies outside the hospitals in order to make it even more accessible for patients who are admitted to the hospital. Strategies like these have helped Walgreens expand and grow in all these years and thus they are currently serving as the second largest pharmacy chain in America and their growth rate in other countries has also been evidently increasing with passing years.
References
About Walgreens. Retrieved January 24, 2018, from http://news.walgreens.com/fact-sheets/about-walgreens/
Walgreens Boots Alliance: Strong Outlook Regardless Of Rite Aid Outcome. Retrieved January 24, 2018, from https://seekingalpha.com/article/4062128-walgreens-boots-alliance-strong-outlook-regardless-rite-aid-outcome
Walgreens Competitive Advantage. Retrieved January 24, 2018, from https://storify.com/Abarrett2/walgreens-competitive-advantage