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“Walgreens Raising the Fashion Quotient”. Patty Brantley Hien Nguyen Amanda Randall. Brief Introduction. Our Article.

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walgreens raising the fashion quotient

“Walgreens Raising the Fashion Quotient”

Patty Brantley

Hien Nguyen

Amanda Randall

brief introduction
Brief Introduction

Our Article

"We\'ve always been a strong destination for health and beauty, and now we\'re layering on the fashion, jewelry, accessories and apparel angle to even further meet shoppers\' lifestyle needs,"

-Tiffani Bruce, Walgreens spokesperson

walgreens vs target
Founded in 1901

$42 million annually in revenue

5,580 stores in 2006

Founded in 1962

$52 Million annually in revenue

1,488 stores in 2006

Walgreens vs. Target
competition
Competition
  • Increased competition due to slow population growth
  • Retailers can only grow by taking sales away from competitors
  • By creating a differential advantage, a retailer can set itself apart from the competition
goals
Evolve Walgreens into a lifestyle alternative to Target

Differentiate themselves from pharmacy competitors such as Rite-Aid and CVS

Tap in to the needs of woman shoppers

Change retail mix to fit demographic

Goals
business strategy
Business Strategy
  • Offering apparel, jewelry and accessories
  • National Brands and Private Labels
  • Prices ranging from $10-$50
  • Store apparel driven by season
  • Fashion apparel may be added to the web site
non price competition strategy
Non-Price Competition Strategy
  • Altering the retail merchandise mix of the company to meet market demands
  • Differentiating itself from the competitors
  • Offer private label brands
  • Increased services for

customers

sources
Sources
  • http://finance.yahoo.com/q/pr?s=WAGhttp://www.walgreens.com/?ext=goobrand+walgreen&gclid=COqmsvqowYsCFRVdYQodwz3dCQ
  • http://investor.walgreens.com/faq.cfm
  • http://investors.target.com/phoenix.zhtml?c=65828&p=irol-homeProfile
  • Women’s Wear Daily WWD: Walgreens Raising Its Fashion Quotient.

By Rusty Williamson

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