Amazon’s plans to enter the $560 prescription drug market with the purchase of PillPack has not caused significant concern for brick-and-mortar drugstores. Even with the rise of e-commerce and introduction of online pharmacies over the past several years, the corner drugstore continues to fill 90 percent of all consumers’ prescription medications and remains a sustainable anchor for retail shopping centers.
Chains such as CVS and Walgreens have already implemented strategies to continue drawing foot traffic into their retail stores and maintain their leadership positioning. These established brands have revamped their physical stores into health centers offering a broad range of ancillary medical services, expanded their offerings of convenience products and enhanced their health and beauty departments all in an effort to remain relevant and improve the customer experience. They have also introduced overnight prescription delivery services and entered into partnerships with health insurers and pharmacy benefit managers to maintain their share of customers’ business.
With offices in Miami, Orlando, New York City and Geneva, the team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email email@example.com.