For many years, Duane Reade was the leading drug chain in the New York City metropolitan market. Some of Duane Reade’s stores were the highest volume per door drug stores in the entire country because of their high traffic locations. Yet Duane Reade in the mid 2000’s was hemorrhaging top-line sales due to the encroachment of competitors and their relatively poor customer shopping experience. Continue reading Taking a Retailer from Worst to Best
For years, Rite Aid was toying with the idea of instituting a customer loyalty program. They finally put one into place in the last few years and the program is now helping one of the Drug Industry’s least productive retailers to generate (finally) strong results. Continue reading Rite Aid Proves Again – It Can Be Much More Beneficial to Retain Customers Than to Find New Ones
Over the last 4 years, the US economy has been in either a negative growth or in a slow growth mode. Unfortunately, the FED and most other forecasters believe that this trend will continue for at least the next 3 – 4 years with US GDP growth increasing at an annual rate of only 2%-3%. Because of the overall market weakness many companies too have seen their revenues decline. Continue reading If You Need Growth In Your Business, But Think You Can’t Afford It, How About a Free Lunch?