Walgreens, the biggest US drugstore chain, sells lots of products in its 13,000 stores worldwide.
But soon it will stock far fewer items, cutting back according to a strict new standard: Does this product add to, and strengthen, Walgreens’ brand equity?
Laggards – even top-sellers with high loyalty scores – will be kicked off the shelves. Only products that consumers love, and that align with the Walgreens’ brand, will survive.
“We sell many products. Arguably, we sell too many products in our stores today”, Adam Holyk, SVP/CMO for the Deerfield, Illinois-based Walgreen Co., explained at the P2P Summit, an event held by the Path to Purchase Institute in Chicago.
Going forward, Walgreens will focus on the products that matter most, building its image as “the expert offering curated solutions to help our customers”, he said.