What is Walgreens? Your Guide to Understanding This Iconic Drugstore
You‘ve surely spotted the ubiquitous corner Walgreens stores with their bright red signs in neighborhoods across America. But with the changing times, you may be wondering — what exactly is Walgreens in 2024?
This article will give you the insider details on Walgreens‘ 120+ year history from neighborhood pharmacy to healthcare giant. I‘ve done the research so you can understand what makes Walgreens special and how it stays relevant in the age of Amazon.
The Origin Story: Walgreens‘ 120+ Year Journey
Walgreens has a long heritage as an accessible neighborhood drugstore. It all started in 1901 when founder Charles R. Walgreen Sr. purchased his first pharmacy in Chicago. Just 12 years later, Walgreens had quickly grown to 20 stores with premium “compounded medicines” and low prices attracting devoted customers.
Today, Walgreens has over 9,100 pharmacy locations nationwide and has expanded far beyond just filling prescriptions:
- 2014 merger with Europe’s Alliance Boots created the Walgreens Boots Alliance
- $132.5 billion in sales in FY 2021 makes it one of the largest companies globally
- Over 400,000 employees worldwide
Yet amidst this growth into a veritable empire, Walgreens still retains its community pharmacy feel in stores. Next we’ll explore why people still love and rely on Walgreens.
Why Consumers Still Choose Walgreens in 2024
Convenience and accessibility. With so many locations across all 50 U.S. states, you’re bound to spot a Walgreens on plenty of street corners and shopping centers near you. The chain puts great emphasis on convenience and easy access for customers.
Trusted pharmacy services. As one of the largest pharmacy chains worldwide, Walgreens offers specialty expertise that makes it a go-to for complex long-term medications. In 2021, pharmacy sales accounted for over $50 billion.
Affordable pricing. Prices are generally more affordable than small independent pharmacies, especially for generic prescriptions. Membership programs like the myWalgreens loyalty rewards also help regular customers save.
One-stop shopping. No more making multiple stops! Walgreens lets you pair prescription pickups, medical equipment, or photo printing with grabbing drinks, snacks, household items, beauty supplies, and more.
Premium photo printing. Walgreens has led innovations in photo printing technology since the early 20th century. It remains many customers’ pick for premium photo books, canvases, calendars, mugs and gifts.
Specialty products. Walgreens offers many specialty items you won’t easily find elsewhere, from high-end beauty to medical aids like braces, supports, and mobility equipment.
Next, let’s explore exactly what products and services you’ll discover at your local Walgreens.
Inside a Walgreens Store: Product Selection and Services
A key factor that sets Walgreens apart from big box stores is its unique blend of pharmacy and retail. Here are some highlights of what you’ll find in store:
Pharmacy: Walgreens pharmacists have expertise across countless medical conditions and are always ready to answer your questions on medications, immunizations, and more in store or via online chat/text services.
- Walgreens filled an incredible 858 million prescriptions in 2021!
- 3 out of 4 U.S. residents live within 3 miles of a Walgreens pharmacy.
Over-the-Counter Medications: Walgreens has over 7,500 OTC products for pain relief, digestive health, pediatrics, specific conditions like arthritis, and much more. Many items offer Walgreens‘ lower-priced equivalents to big brands.
Vitamins, Minerals and Supplements: Choose from vitamins & supplements tailored to concerns like immunity, heart health, bone/joint support, probiotics, energy, mood, sleep, mens‘ & womens‘ health
Beauty: Walgreens is upping its beauty game with over 4,000 products covering makeup, skincare, haircare, fragrances, nails, grooming devices and accessories from brands like L‘Oreal, Neutrogena, Olay, E.L.F cosmetics, Birchbox and Winky Lux. Beauty consultants in select stores provide tailored product recommendations too.
Home Healthcare: Walgreens carries medical items you’d need at home — bathroom aids, braces & supports, monitors and electronics, specialty beds & accessories, and more. You can even get complex medical equipment like oxygen or CPAP machines delivered. Certified experts help with selection and insurance billing.
Household Essentials: Pick up laundry, cleaning and paper products, pet supplies, baby & child necessities, snacks & food items, office supplies, electronics accessores and prepaid cards for gas, dining, retail stores. Walgreens has you covered if you‘ve run out or forgot something at home.
Photos: Walgreens photos services include same-day photo printing from smartphones/cameras/storage devices, photo books, enlargements, prints, gifts like mugs and calendars and holiday cards designed right in store or online.
Alcohol (select stores): Beer, wine, and liquor available for purchase where state laws permit. Pick up a nice bottle of wine or case of beer when getting your groceries and save a trip!
As you can see, Walgreens aims to be your go-to convenience store for health, wellness and the everyday items you need most.
How Walgreens Compares to Other Retailers
Walgreens has managed to hold its own against retail giants like Amazon, Walmart and Target expanding into healthcare products by playing to its core strengths:
Walmart: Despite having many locations with pharmacies, Walmart has more limited pharmacy services compared to Walgreens. Walgreens offers specialty expertise in complex medical therapies and works directly with doctors and insurance providers. Its pharmacists also provide services like immunizations, health consultations and guidance Walmart does not.
Amazon: While Amazon sells health-related products online for home delivery, Walgreens provides services Amazon can’t replicate. These include in-person pharmacist advice, last-minute OTC medication purchases, same-day photo printing, and medical equipment fittings and demonstrations.
CVS: Walgreens‘ biggest competitor CVS acquired insurance and health companies like Aetna to expand its healthcare reach. But when it comes to the retail store, Walgreens is focusing more on adding specialty beauty items and enhanced photo printing options to attract customers. And its loyalty program offers slightly better rewards for the average buyer.
Why I Believe Walgreens Will Stay Relevant
In my opinion as a 20-year retail analyst, Walgreens is strategically evolving to retain its foothold. While adding ecommerce options, it banks on the convenience, superior customer service and sense of community its physical stores cultivate.
And by combining accessible healthcare and pharmacists with expanded retail offerings, it gives you an efficient one-stop experience big box stores can’t match. When you need OTC cold medicine, toilet paper, candy and photo prints fast with friendly service, Walgreens delivers.
So next time you head out to run errands, consider stopping by your neighborhood Walgreens. With exceptional pharmacy expertise and so much more, you might just discover your new go-to convenience store!
