“Walgreens Raising the Fashion Quotient”

1. “Walgreens Raising the Fashion Quotient” Patty Brantley Hien Nguyen Amanda Randall

2. 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

3. 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

4. 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

5. Competitors

6. 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

7. 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

8. 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

9. 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