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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
| Source: BIGresearch
COLUMBUS, OH--(Marketwire - February 5, 2008) - 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.