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NEW YORK Drug store chains' foray into the consumer electronics game isn't sizing up, according to TWICE, a NewBay Media publication.
The magazine, which examines the world of consumer electronics, conducted research with market intelligence partner The Stevenson Co. to examine CE sales at drug store chains. The study found that CE sales for Walgreens, CVS/pharmacy and Rite Aid totaled $111 million last year, about 1% of CE revenue garnered by the industry’s top 100 retailers, TWICE said.
Most drug store chains sell such CE items as batteries and flashlights, as well as photo, mobile and computer accessories. But while front-end revenue for drug stores trails behind prescription revenue, TWICE pointed out that drug stores soon may profit from a pending CE boom with the introduction of such innovative products as digital health-and-wellness items and more.