Walgreens, CVS, and Rite Aid are about to have a chance to show consumers that they are still relevant, and that goal stretches beyond the vaccine.
The coronavirus pandemic dealt a blow to drugstore chains as shoppers cut down on their number of store visits and had more prescriptions delivered to their homes. But the COVID vaccine promises to send many of those shoppers straight to their nearest drugstore to receive their shots, and that presents an opportunity for the chains to prove the value of their investments in their businesses.
As rivals such as Walmart and Amazon encroach on drugstores' traditional territory, all three of these drugstore retailers have made big changes, including modernizing stores, opening primary care clinics, and emphasizing wellness.
The companies have had their share of internal changes, too. CVS and Walgreens are both getting new CEOs. Rite Aid is in the midst of a turnaround effort complete with a new logo and store design.