Walgreens raising the fashion quotient
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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”

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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


Competitors

Competitors


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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