BIGresearch’s January Retail Ratings:
Walgreens Remains
Store Shopped Most Often for Prescription Drugs
Wal-Mart Nudges CVS out of
Second Place Among
Consumers with Household Incomes Less than $50K
COLUMBUS,
OH -- (MARKET WIRE) – 2/5/08 – Walgreens is gaining in consumer share and
continues to be the retailer shopped most often for prescription drugs with an
overall share of 16.1% (compared to 15.5% in January 2007), according to
BIGresearch’s (http://www.bigresearch.com)
latest Retail Ratings Report for January 2008. Fellow druggist CVS, with a share
of 13% (compared to 12.8% in ‘07), and Wal-Mart, with 9.2% of the share (vs.
7.7%), round out the top three.
Wal-Mart’s $4 prescription drug program appears to be successful among consumers
who report a household income of less than $50,000. Walgreens still leads in
this consumer segment with a share of 16.6%, but Wal-Mart moves into second
place with 12.6% share. CVS follows closely behind at 12.1%.
“Wal-Mart pioneered the $4 prescription drug program and forced competitors to
respond,” said Pam Goodfellow, Senior Analyst of BIGresearch. “It’s no surprise
that their move is paying off among lower income consumers, especially during
turbulent economic conditions.”
Compared to 2007, Wal-Mart experienced positive growth in the prescription drug
category among consumers with a household income less than $50,000, with a
Consumer Equity Index™ (CEI) of 130.84. (CEI measures growth in share year over
year.) Walgreens also gained consumer share with a CEI of 104.18. CVS lost share
with a CEI of 96.70.
Among the top ten stores for prescription drugs, Costco (54.8%), Target (24.8%),
Wal-Mart (19.1%), Walgreens (5.7%) and Kroger (4.0%) maintained the highest Net
Promoter® Scores (NPS). The NPS asks customers to rate the likelihood of
recommending the store they currently shop most often for Prescription Drugs to
a friend on a scale of 0 (Not at All Likely) to 10 (Extremely Likely).
BIGresearch’s Retail Ratings Reports (RRR) are available monthly for 12
major merchandise categories. They are developed from BIGresearch’s monthly
Consumer Intentions & Actions (CIA) Survey of over 7,500 online interviews. In
addition to income breaks, the RRR are segmented by age and gender. For a sample
of the January report for Prescription Drugs (all consumers and those with
household incomes less than $50,000), reasons consumers shop a particular
retailer and Net Promoter Scores, please click the following link:
http://info.bigresearch.com/.
About BIGresearch
BIGresearch is a
consumer intelligence firm providing solution-based insights of consumer
behavior, present and future, in areas of products and services, retail,
financial services, automotive and media. BIGresearch conducts the monthly
Consumer Intentions and Actions Survey (CIA) of 7,500+ respondents and the
semi-annual Simultaneous Media Survey (SIMM) of 15,000+ respondents. More
information is available at
http://www.bigresearch.com.
*Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.
Contact:
Chrissy Wissinger
BIGresearch
450 West Wilson Bridge Road
Suite 370
Worthington, Ohio 43085
(614) 846-0146
chrissy@bigresearch.com