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Consumers Spending Less on Prescription Drugs
Date:2/25/2009

e winning the share war in this economy. Wal-Mart grew its customer base 9% over the past year.

  • The share gains for value-based retailers come at the expense of the stores that consumers perceive as having higher prices. Rite Aid lost a disproportionate amount of market share to Wal-Mart, approximately 2% over the past year, because consumers believe it has higher prices.

  • Despite the increasing importance of price perception, location remains the no. 1 reason why consumers choose a particular retailer for prescription drug purchases. Walgreens and CVS continue to maintain share based primarily on convenient locations.

  • Price-sensitive consumers are responding to discount prescription drugs programs. More than half (57%) of Wal-Mart pharmaceutical shoppers cited the retailer's $4-generic-drugs program as a main reason for their choice of retailer.


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SOURCE Kurt Salmon Associates
Copyright©2009 PR Newswire.
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