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ENGLEWOOD CLIFFS, N.J. — Already one of the world’s leading CPG suppliers, Unilever is on course to extend the reach and bolster the impact of its diverse product portfolio. Terry Thomas, executive vice president and chief customer officer for Unilever U.S., is one of the individuals spearheading that effort. Responsible for $12 billion a year
With many nonessential brick-and-mortar retailers being forced to close due to lockdown measures during the pandemic, drug stores were able to fill the void for consumers looking to stock up on beauty and wellness products. In effect, the pandemic made drug stores a premier shopping destination for beauty products. Drug stores catered to a wider
Retail pharmacy operations present significant regulatory risks. In particular, most pharmacies are enrolled as Medicare and Medicaid providers and are therefore subject to complex requirements governing the submission of claims to these government health care programs. Failure to comply with these requirements can result in civil monetary penalties and even exclusion from participation in federally
It wasn’t that long ago that “retail” referred to a local store run by one person who understood every aspect of the business and managed everything by hand. Yet, retailers in general and drug retailers specifically have seen rapid and explosive growth, both geographically and in the complexity of their product offerings and services. Multinational
Amid COVID-19, homebound consumers turned to digital health services, apps and wearables to replace the pharmacies, gyms or doctor’s visits they’d normally go to pre-pandemic. As a result, consumer behaviors have been rewritten, causing nearly every industry to reevaluate how they do business. For drug stores, this means adopting a digital storefront, where they can
The U.S. prescription drug market has reached half a trillion dollars, much of it dominated by large pharmacy service providers. But with a pie this big, it’s little wonder that new players are looking to horn in on the action — in particular “digital native” start-ups that give customers the direct consumer-centric relationship and flexible
Drug stores have been forging partnerships with digital health care and telehealth providers over the last few years to enable a shift from sick care to self-care, empowering shoppers to take ownership of their health and wellness. CVS and Walgreens expanded their digital platforms to offer remote medical services since shoppers are hesitant to see
Sitting at the intersection of retail and health care, 2020 and 2021 have been profoundly challenging years for the retail drug store channel. The onset of the COVID-19 pandemic had once-in-a-generation impacts across the full business — both pharmacy and retail. On the pharmacy side, there were shifts in chronic versus acute prescription volumes, channel
Nearly every brand has faced enormous disruption to the ways they reach consumers during the past year. A typical consumable CPG brand may have previously experienced 5% of total sales online and 90% in store. Now, as e-commerce approaches 20% of total commerce, the stakes have grown much higher. There is a sense of urgency
As nutritional products continue to post impressive growth, chain drug stores must decide how to best differentiate their stores and e-commerce platforms from pure e-commerce players. To me, establishing chain drug as the most trusted and reliable channel to shop this $20 billion category should be priority No. 1. Success will rely on promoting high-quality,
The promise and power of personalization is always based on relevance, which requires the most robust understanding of how customers shop and their ever-changing needs in terms of categories, products, brands, information, price, value and channel. Throughout the pandemic, there have been tremendous changes that impact almost every way these customers shop — from their
As society is becoming vaccinated and moving through 2021 further past the height of the COVID-19 pandemic, we find ourselves in a world much different than it was just 15 months ago. The changes necessitated by the pandemic shutdowns have permanently changed many behaviors and transformed several aspects of customers’ lives. People will be working
Health has become one of the top priorities for consumers over the past year, with vitamin, minerals and supplement (VMS) sales skyrocketing nearly 20% since the pandemic started, far ahead of the overall CPG market. Even with vaccines rolling out, a commitment to sticking to self-care regimens and disease prevention will still be prevalent. Retailers
Even before the pandemic, pharmacies were struggling. Now, the pressures are even greater as demand shifts, digital disruption escalates and the need for health equity is in the spotlight. Access to health care is critical for Americans, and 90% of Americans live within five miles of a pharmacy. While there are some components of health
