Drugstores are accelerating plans to reinvent themselves as health care destinations

Companies like Walgreens and CVS have managed to keep revenue growing during the pandemic -- but they've also been hurt by falling sales of products in non-essential categories like beauty. Before the pandemic, these companies were trying to reinvent themselves as primary care destinations, by adding more spaces in store and online for health care products and services beyond just refilling prescriptions. Now, the coronavirus pandemic has only made that transformation more urgent.

Latest Stories

  • FEB 11, 2021

    ‘The beginning of a new era’: How Zenni harnessed its vertically integrated business model to reach record heights

    After an initial slowdown in March due to supply chain constraints, online eyewear brand Zenni Optical says it saw record growth in 2020. With people stuck at home, the company received an influx of new customers trying to avoid going to the eye doctor. And since most were working from home, Zenni's line of blue light blocking lenses grew at an unprecedented clip. According to chief product officer Bai Gan, this past year was "the beginning of a new era" for eyewear brands. He joined the Modern Retail Podcast this week and talked about why.

  • FEB 08, 2021

    Why many online grocers still can’t accept SNAP customers

    Although there are a few regional stores now enrolled in the SNAP pilot, most prominently Texas’s H-E-B, the pilot is largely centered around three companies -- Amazon, Walmart and Aldi. And while the USDA claims that the pilot covers “over 90%” of households, only a handful of the small and medium-sized groceries that service much of the U.S. are approved to accept SNAP payments online.

  • FEB 05, 2021

    Despite record growth, Peloton’s supply chain is hurting its bottom line

    Nearly a year after sales for its connected indoor bikes surged, Peloton is still struggling to fulfill demand in a timely manner. The fitness company, which went public shortly before the pandemic, is heavily investing in owning the supply chain and reducing delivery windows.

  • FEB 04, 2021

    ‘DTC companies were late to the omnichannel game’: Untuckit’s Aaron Sanandres on leading a dress shirt brand during a pandemic

    2020 was a tough year for casual dress shirt brand Untuckit, but it was able to adapt. While many retailers that catered to workwear completely changed their product lines to mesh better with the pandemic lifestyle, Untuckit opted to wait it out. "The decision was no -- no massive overhaul of our brand ethos was necessary," said Aaron Sanandres, co-founder and CEO. Sanandres joined the Modern Retail Podcast and spoke about all the changes his company experienced.

  • JAN 28, 2021

    Why Godiva is closing its U.S. retail stores

    Chocolate brand Godiva is the latest brand to close its retail shops due to the pandemic. The century-old company, which also operates wholesale and e-commerce channels, will shutter its brick and mortar stores and cafes in March. Like others, the confectionary brand will shift focus to its growing digital presence.

  • JAN 28, 2021

    ‘The purchase cycle is very considered’: Carvana’s Ryan Keeton on how the pandemic changed used car sales

    It's been a big year for online shopping -- online car shopping too. Carvana was able to ride that wave (or, perhaps, drive that used '09 Camry). It reported year-over-year revenue growth of 41% at its third quarter earnings. According to chief brand officer Ryan Keeton, the nine-year-old company was able to use the momentum it built over the last decade to capitalize on retail shifts during the pandemic. Keeton joined the Modern Retail Podcast this week and discussed his company's overall strategy.

  • JAN 26, 2021

    With ridership nosediving, airlines are trying to become DTC food brands

    Airlines are promoting their excess food in part because they have so much of it in storage. But by bringing their food and drinks more closely into people’s lives, they are also building their brands. For the airlines, this might signal a brief lifestyle brand pivot, where the snacks and drinks they keep onboard become part of the larger pitch for why a customer should fly with them.

  • JAN 25, 2021

    How Amazon is shaping the future of airport retail

    The company behind Hudson News is investing in Amazon's cashierless technology. The partnerships make a certain amount of sense. On the retailer side, this is one way to lower the barriers to entry as much as possible for customers. For Amazon, airport retail is a complex and expensive sector to enter -- so, the e-commerce giant relying on its technology to get a foothold into the market instead.

  • JAN 21, 2021

    ‘Big companies are not as good at innovation’: Canteen Spirits CEO Brandon Cason on disrupting the hard seltzer industry

    Canteen Spirits was ready to take on the hard seltzer industry -- and then the coronavirus hit. According to co-founder and CEO Brandon Cason, the first few months of the pandemic were hard. But things began to quickly ramp up once the first coronavirus peak subsided -- and the beverage brand is in growth mode once again. Canteen makes canned vodka-based sparkling beverages. Cason joined this week's Modern Retail Podcast and described the year's journey.

  • JAN 21, 2021

    Why retailers are paying employees to get the coronavirus vaccine

    Retailers are trying to get their employees vaccinated -- and fast. There's a clear incentive for retailers to encourage their employees to get vaccinated as quickly as possible: as more of their employees get vaccinated, it decreases the likelihood that one of them will contract the coronavirus at work. However, mandating that employees get the vaccine presents its own set of challenges.

  • JAN 20, 2021

    Retailers are exiting malls — and changing their store strategies

    As retailers increasingly open more stores in strip malls or open-air shopping centers, they're also rethinking what these locations should look like. Locations of Macy's new off-mall chain, for example run only 20,000 square feet, tens of thousands of feet smaller than the typical department store. As other retailers like Sephora and Foot Locker are looking at opening more off-mall locations, they're following similar playbook.

  • JAN 19, 2021

    Why Walmart is testing porch coolers for grocery delivery

    Walmart is testing ways to keep consumers ordering groceries online long after the pandemic. As grocery sales slow down, the retailer is partnering with tech startup HomeValet to install smart coolers on customers' porches.

  • MAR 03, 2021

    What is ‘omnichannel’ and why do we need it in retail?

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