It only took them about 20 years to figure it out: CVS urban store format
CVS is one of the nation's largest "drug store" companies with a heavy presence in urban markets such as DC, which they entered when they bought the old People's Drug Store chain in the early 1990s. Chain Drug Review, a trade magazine for the industry, reports in "CVS rolling out urban store format" that the company is creating an urban store model with more convenience goods items and self check outs, because in many neighborhoods, the stores function more like convenience stores rather than full-line drug stores.
From the article:
“Our research showed that our customers who live and work in our urban markets shop CVS more as a general store, so we are adapting our product mix and store layout to better address their needs,” he says.
I went into the CVS on 14th Street NW between G St. and New York Avenue last week, and it seems that they have already implemented this new format.
Labels: formula retail, retail, retail planning
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