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"The company has been evaluating changes in population, consumer buying patterns and future health needs to ensure it has the right kinds of stores in the right locations for consumers and for the business," the company said in a statement. "As part of this initiative, CVS Health will reduce store density in certain locations and close approximately 300 stores a year for the next three years."
The copay price break on 90 day Rx through the mail has to be hitting brick & mortar pharmacies hard. If the traffic doing monthly refills that also spends on their big mark-up retail drops off, it’s hard to cover the big labor costs.
Sounds about right. They probably have too many sites in certain places. Plus, we will see over the next decade (or less) lots more brick and mortar store closures. That, along with office site closures, ( due to workers working online from home) is going to make for a changed world.
Quote:
CVS said it will focus on three store formats: sites that offer primary care services, sites that feature an enhanced version of HealthHUB, and sites that offer the traditional mix of pharmacy services and retail.
They seem to have way too many stores just like theres way too many Dunkin Donuts.
I don't know about CVS, I tend to boycott them (don't ask it's personal). But can you point me to some of these Dunkin Donuts that are missing customers (and lines)? Feel free to share.
CVS is a freakin’ ripoff. This isn’t surprising at all. I went in there last night because I didn’t feel like driving to Target and paid almost $40 for non-fancy moisturizer, powder, and M&Ms. And this was also with a 35% off coupon. If I went to Target or Walmart, that same order would’ve been under $30. They’re simply way too expensive and everyone avoids them for this reason.
CVS is a freakin’ ripoff. This isn’t surprising at all. I went in there last night because I didn’t feel like driving to Target and paid almost $40 for non-fancy moisturizer, powder, and M&Ms. And this was also with a 35% off coupon. If I went to Target or Walmart, that same order would’ve been under $30. They’re simply way too expensive and everyone avoids them for this reason.
Agreed although on average, with those ExtraCare coupons and the like, my shopping trips are about the same as Target, price-wise.
But the high prices without ExtraCare coupons likely do scare people off. I wonder why CVS does that.
Agreed although on average, with those ExtraCare coupons and the like, my shopping trips are about the same as Target, price-wise.
But the high prices without ExtraCare coupons likely do scare people off. I wonder why CVS does that.
I’m not sure if maybe they were banking on people using the Extra Care program a lot more than they do? I definitely agree that using the EC coupons helps (and I do use mine as much as possible), but I will say often times when I’m in line and the store associate asks people in front of me if they have an EC card, it’s usually met with a ‘no’. I’m always tempted to tell them to swipe my card so I can get the points and they get a potential discount!
I think another possibility is that the high prices started to outweigh the convenience factor. I definitely noticed that prices have soared even in the past 3 or 4 years. I used to go all the time because there were about four of them in the town I was living in, but as the price disparity became glaringly obvious, I decided it just wasn’t worth it. So, off to Target or Walmart I go. I only go to CVS if I absolutely need a few small things and really don’t feel like leaving town. And even then I scour my email to see if I have a coupon.
Also, the greeting cards are outrageous! And they don’t have many less expensive but just-as-nice options the way Target and Walmart do.
We just changed healthcare coverage. The new plan has very tiered prices. CVS MinuteClinic is the best pricing anywhere near here for something quick. Unfortunately, the several closest CVS don’t have them so it’s a 24 minute drive. Walgreens is our closest pharmacy and it’s newer construction & has an office with a door for vaccinations. We’re unlikely to set foot in a CVS unless it’s to use that MinuteClinic to get something like a Lyme test/Rx or Tamiflu Rx.
They are going to have larger more strategically located stores. Makes sense for the bottom line. Not as many brick and mortar locations are needed as was once the case. Online purchasing has changed retail. Look at the banking industry for a glimpse of the future. No where near as many bank branches and ATM's as there used to be. Electronic banking and payment options brought great change.
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