Walgreens SWOT Analysis

Walgreens was originally founded in 1901, in Chicago, as a single store company. Today, they are the second largest drugstore chain in the nation with approximately 5,200 stores in 45 states; however, they are the leader in the industry in terms of sales. In 2005, Walgreens generated 42.2 billion dollars in sales. This figure is a milestone in that it marks the 31st year that Walgreens has set a sales record for the industry. At $46 per square foot, Walgreens averages twice the sales per square foot than their competitors. In light of this success, they project 7,000 stores by 2010. (DSN Retailing Today, 6/12/06) Walgreens expands through organic growth. They prefer to build, or rebuild their own stores and as a result, the average Walgreens store is six years old.(MMR,5/8/2006) The Walgreen chain of pharmacies offers prescription and non-prescription drugs.

In addition, they sell general merchandise such as beauty and household items, snacks as well as offering a photo lab. They have also begun to add clinics and specialty drugs to their services. Walgreen Pharmacies pride themselves not only on service but convenience and therefore out pace their competitors with the number of stores open 24 hours a day. The average Walgreen visit is seven minutes. To promote their policy of convenience Walgreen Pharmacies are located in high traffic areas while 80% are in free standing buildings and 4,300 offer drive through prescription pick-ups.(Retail Traffic, 5/1/2006)

With theses attributes, Walgreens averages a fifteen percent increase in their sales from year to year, and it looks like this statistic will remain constant for the years to come.

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