Retail pharmacies like Walgreens Boots Alliance Inc. (NASDAQ:WBA) and CVS Health Inc (NYSE:CVS) have become less convenient for consumers, as customer complaints demonstrate.
Despite their widespread locations, long waits for assistance and prescription pickups have led to frustrations that mirror retail pharmacy chains’ broader challenges, CNBC reports.
These operational issues are symptoms of deeper financial struggles, leading to strategic shifts across the industry.
Also Read: CVS, Rite Aid, Walgreens Hit Hard By Online Pharmacy Trend.
The business model for retail pharmacies is increasingly under pressure. Declining prescription drug reimbursement rates, inflation, changing consumer behavior, and competition from e-commerce giants like Amazon.com (NASDAQ:AMZN) have eroded profit margins.
Additionally, chains have experienced staff burnout due to understaffing and growing workloads.
Though both companies enjoyed temporary gains from vaccine and test sales during the COVID-19 pandemic, the post-pandemic reality has revealed fundamental flaws ...
