Walgreens Raising the Fashion Quotient Patty Brantley Hien Nguyen Amanda Randall

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 Founded in 1901 $42 million annually in revenue $42 million annually in revenue 5,580 stores in ,580 stores in 2006 Founded in 1962 Founded in 1962 $52 Million annually in revenue $52 Million annually in revenue 1,488 stores in ,488 stores in 2006

Competition Increased competition due to slow population growth Increased competition due to slow population growth Retailers can only grow by taking sales away from competitors Retailers can only grow by taking sales away from competitors By creating a differential advantage, a retailer can set itself apart from the competition By creating a differential advantage, a retailer can set itself apart from the competition

Competitors IntratypeIntertype Rite-AidWal-Mart CVSTarget IntratypeIntertypeWal-martWalgreens

Goals Evolve Walgreens into a lifestyle alternative to Target Evolve Walgreens into a lifestyle alternative to Target Differentiate themselves from pharmacy competitors such as Rite-Aid and CVS Differentiate themselves from pharmacy competitors such as Rite-Aid and CVS Tap in to the needs of woman shoppers Tap in to the needs of woman shoppers Change retail mix to fit demographic Change retail mix to fit demographic

Business Strategy Offering apparel, jewelry and accessories Offering apparel, jewelry and accessories National Brands and Private Labels National Brands and Private Labels Prices ranging from $10-$50 Prices ranging from $10-$50 Store apparel driven by season Store apparel driven by season Fashion apparel may be added to the web site Fashion apparel may be added to the web site

Non-Price Competition Strategy Altering the retail merchandise mix of the company to meet market demands Altering the retail merchandise mix of the company to meet market demands Differentiating itself from the competitors Differentiating itself from the competitors Offer private label brands Offer private label brands Increased services for Increased services for customers customers

Sources Qodwz3dCQ Qodwz3dCQ Qodwz3dCQ Qodwz3dCQ Womens Wear Daily WWD: Walgreens Raising Its Fashion Quotient. Womens Wear Daily WWD: Walgreens Raising Its Fashion Quotient. By Rusty Williamson By Rusty Williamson