Walgreens Swot Analysis
Overview Founded in 1901, Walgreens had revenues of $63.3 billion in fiscal 2009. As of Aug. 31 2009, the company operated 6,997 drugstores in 50 states, DC, and Puerto Rico versus 6,443 a year ago. In fiscal 2009 Walgreens added 544 new drugstores, including 70 by acquision, acquisition? growing by 8.6%. The company is principally in the retail drugstore business and its operations are within one reportable business segment. (Walgreens 2009)
Strengths
The successful implementation of technology in both the store and supply chain is a real strength for the Walgreens Company. They have successfully implemented the use of radio frequency identification (RFID) throughout its chain of stores. RFID allows Walgreens to monitor the impact of sales from specific displays. Wow! It provides Walgreens with the tools to maximize both its efficiency and profits. (Wilson 2006) Walgreens also offers the service of in-store medical clinics. These in-store clinics are conveniently located across from the Walgreens pharmacy offering customers a diagnoses and treatment inside the store. These services allow Walgreens to promote a strong brand image of both service and personal attention within the healthcare industry. (Walgreens 2010) Walgreens is a pioneer of energy conservation among retailers; in 2006 they installed solar panels on 96 stores and two distribution centers in California, and 16 New Jersey locations (Walgreens 2010).
This is a new paragraphWalgreens’ biggest strength is their knowledge of their customers. For instance, they know that their customer prioritize convenience; therefore they implement a saturation style store expansion plan to insure that customers are close to a Walgreens, because if not, they won’t shop there. By initiating programs such as their Rx Savings Advisor Walgreens has enhanced its focus on the aging population. This particular program is a tool whereby Medicare customers can identify the most compatible Part D prescription plan
Strengths
The successful implementation of technology in both the store and supply chain is a real strength for the Walgreens Company. They have successfully implemented the use of radio frequency identification (RFID) throughout its chain of stores. RFID allows Walgreens to monitor the impact of sales from specific displays. Wow! It provides Walgreens with the tools to maximize both its efficiency and profits. (Wilson 2006) Walgreens also offers the service of in-store medical clinics. These in-store clinics are conveniently located across from the Walgreens pharmacy offering customers a diagnoses and treatment inside the store. These services allow Walgreens to promote a strong brand image of both service and personal attention within the healthcare industry. (Walgreens 2010) Walgreens is a pioneer of energy conservation among retailers; in 2006 they installed solar panels on 96 stores and two distribution centers in California, and 16 New Jersey locations (Walgreens 2010).
This is a new paragraphWalgreens’ biggest strength is their knowledge of their customers. For instance, they know that their customer prioritize convenience; therefore they implement a saturation style store expansion plan to insure that customers are close to a Walgreens, because if not, they won’t shop there. By initiating programs such as their Rx Savings Advisor Walgreens has enhanced its focus on the aging population. This particular program is a tool whereby Medicare customers can identify the most compatible Part D prescription plan
References: should have its own page. Bhatt Raj. Analysis of US Drug Store Chains (2009). Chains, Knowledge Foundry Business Solution. Retrieved September 20,2010 from http://www.walgreens-pharmacy.com/ Walgreens. (2010) Retrieved September 20,2010 from http://www.walgreens.com/marketing/about/default.jsp?foot=company_info Walgreen Company 10-K 2009.(2009) Retrieved September 20, 2010 from http://www.wikinvest.com/stock/Walgreen_Company_%28WAG%29/Filing/10- K/2009/Ex- 13/D8749300#NetEarnings Wikipedia. (2010) Retrieved September 20,2010 from http://en.wikipedia.org/wiki/CVS_Caremark Wilson, Marianne. Walgreens Is Watching. (2006 February). Chain Store Age,82( 2), 63.