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Getting into specialty serves retailers' best interests
Kroger announced Thursday it will acquire the outstanding shares of Axium Pharmacy Holdings, a leading specialty pharmacy, and merge the two companies. By now, it should be clear that specialty is becoming an increasingly important part of the retail pharmacy mix, having grown more than sixfold in revenues between 2000 and 2011, with everyone from Rite Aid to Costco to Hy-Vee biting off a piece for themselves.
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Diabetes management earns front-end spot
As more Americans join the ranks of diabetics, the opportunity to target these consumers at the shelf becomes more crucial.
Retailers like Rite Aid are using pull-box displays that allow customers to physically handle a blood-glucose meter before they make that purchase decision. That kind of consumer engagement, evident throughout Rite Aid’s latest Wellness format store, for example, helps anchor diabetes as a front-end destination center.