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Chain Drug Review Published “COVID Has Set the Stage for Drug Stores’ Next Evolution” by Matt Katz, Chris Ventry, and Nick Kramer

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Chain Drug Review published an article written by Matt Katz, Chris Ventry, and Nick Kramer. The piece looks at the need for drug stores to undergo a transformation to accommodate the trends, opportunities, and challenges that developed throughout the pandemic. They suggest areas for these stores to focus on stating, “In their next stage of evolution, by understanding the new, pandemic-accelerated ways consumers shop, drug store chains will need to expand fulfillment operations while streamlining operations and still have the ability to quickly identify key changes in buying behavior.”

They looked at lessons learned from other industries that sprinted to digital in order to accommodate customers during the pandemic and emphasized that BOPIS will continue to remain an integral part of many retailers. “This requires a whole reworking of channels that will allow chain drug stores to meet shoppers where they want to engage, whether through the physical or the virtual door of the store. In other words, it requires digital to be seamlessly integrated with physical.”

Read the full article here.

Matt Katz

Matt Katz serves as a Managing Partner and heads the Retail & Consumer Packaged Goods and Private Equity practices at SSA & Company

 

 

Chris Ventry serves as a Vice President in the Retail & Consumer Packaged Goods practice at SSA & Company

 

 

Nick Kramer serves as Vice President, Digital – Analytics at SSA & Company

 


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