PYMNTS.com January 7, 2025
In the past decade, the U.S. has seen a dramatic decline in the number of drugstores, with nearly 30% of them disappearing from the retail landscape. This shrinking footprint reflects a combination of factors, including the rise of eCommerce, changing consumer habits, razor-thin profit margins and a more competitive environment dominated by big-box retailers and online pharmacies.
While the traditional drugstore model once thrived as a convenient stop for medications and over-the-counter products, evolving market dynamics have placed immense pressure on these businesses, forcing many to close their doors. To survive, retail experts interviewed by PYMNTS say drugstores must adapt by diversifying their services, leveraging technology, and finding new ways to meet changing consumer needs — whether through wellness services,...
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