Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In

Promising Performance for Pharmacies

by 
Jocelyn Bauer
 on 
April 2, 2020
Promising Performance for Pharmacies

Pharmacies have been deemed “essential” by the government and have been allowed to remain open during the pandemic. But, many pharmacies are more than just an alternative place to stockpile goods, with a focus on necessary items like medications. They’re expecting to serve as additional testing stations for COVID-19.  

So, we looked at three of the top pharmacies in the country to see how significant the impact of the virus has been on traffic to these retailers.

Strong Second Week  

As expected, visits for pharmacies have been strong throughout the pandemic. When we measure average weekly visits between January 2019 to March 22nd, 2020 we see each retailer drawing significant traffic increases for the second week of March. Visits for CVS during this time were 27.8% above the baseline, amounting to a 27.1% increase in visits compared to the equivalent week in 2019, the highest week of traffic for the brand among the period measured. 

The second week of March 2020 also garnered a major traffic increase for Walgreens. Visits for the retailer for the second week grew 29.9% year-over-year from visits that were exactly at the baseline for the period in the equivalent week in 2019.

And, results didn’t vary when we analyzed traffic to Rite Aid, another pharmacy giant. Visits for that second week were 27.0% above the baseline, a 24.2% increase from the same week in 2019 when visits were 2.8% above. And, similar to CVS, this week was the highest trafficked week throughout the period measured.  

Seeing as major supermarkets in the US also saw similar traffic patterns for the same week in March, with the weekend generating the highest visits, that second week of the month might have been the turning point that drove people to essential stores, stocking up on any necessary items, in turn boosting visits.  

Declines Begin

Interestingly, while all three brands saw growth in the first week of March and a peak in the second week, declines began in the third week across the board. CVS and Walgreens saw minor decreases of 3.5% and 2.3% respectively, while Rite Aid saw a drop of just over 7.0%. With the high peaks in the first and second weeks indicating moves by shoppers to stock up, it is not surprising that the following week saw a decline, especially with greater movement restrictions coming into play across the country.

But, context is still critical. The first two weeks in March were so strong that even including the third week dip, there has been a massive jump in year-over-year traffic. Looking at the three week period and comparing it to the equivalent weeks in 2019, shows all three brands seeing major jumps led by Walgreens with a 12.3% increase. This is especially impressive considering wide scale closures being announced by both Walgreens and Rite Aid.

Takeaways 

The pharmacy sector surprisingly did not see a dramatic peak in late February, but the delayed rush came in full force in March. The first two weeks saw massive traffic increases for CVS, Walgreens and Rite Aid nationwide. And, while the third week did bring decreases, the overall weight of the initial surge offset any declines when looking at the full period year-over-year. 

Will a sustained social distancing period lead to an ongoing trend of traffic dips, or will the sector continue to see a positive effect on store performance?  

Stay on top of the situation with our Covid-19 Impact Tracker and check back in with our blog for the latest updates. 

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.
Pent-Up Demand Ahead of October Sales Events
4 Strategies Retailers are Using to Drive Traffic to Their Venues
5 Key Regional Grocery Players Impressing in 2023
Upscale Kitchenware Trending Up
Costco Finds More Room for Growth
Four C-Store Chains Making an A-Grade
National Parks + Outdoor Summer Activities
Diving Into Darden: Summer 2023 Update
The Summer Event Effect
Messi: Massive in Miami
Looking Back on Back to School 2023
The Anchor Recap: August 2023
Placer.ai Office Index: August 2023 Recap
Placer.ai Mall Index: August 2023 Recap
Placer.ai White Paper Recap: August 2023
Starbucks Pumpkin Spice Latte Strikes Again
Big Scoop: We All Scream For Ice Cream
Sports Away: Lululemon & Nike’s Momentum Continues
Summer Visits Heat Up For Recreation and Outdoor Gear Chains
No CSS overwrite - July 2023 Office Index Recap
Staging - August 2023 Mall Indec
Mid-Atlantic Grocery Deep Dive
Experiential Chains Heating Up This Summer
Petco Goes Big by Going Small
Ulta Beauty: Leading the Discretionary Pack
Discount and Dollar Chains Continue to Thrive
Summer of Sports: DICK’s Sporting Goods and Hibbett Sports
Off-Price: Succeeding Into Summer
The Anchor Recap: July 2023
Superstores Maintaining Pandemic Gains Amidst Economic Headwinds
2023: Home Improvement at the Halfway Point
July 2023 Office Index Recap
Placer.ai Mall Index: July 2023 Recap
widget test
The Taylor Swift Visit Lift
Southwestern Grocery Dive
July 2023 White Paper Recap: Halfway Point Review & Quarterly Index
Yum! Brands: Driving Dining Visits
Slurpees and Summer Movies Stimulate Consumer Foot Traffic
Cool Beans: Summer Coffee Update
Checking In on Back to School 2023
Crocs and New Balance Tip The Scales
Burger Bliss: Shake Shack and In-N-Out Stacking Visits
Chipotle & McDonald's Continue to Reign Supreme
Vibenomics and Placer.ai Partner to Enhance Retail Media In-Store Measurement
California Grocers Here We Come!
Marriott’s Different Audiences
Bonchon and Kura Sushi Thrive in the Fast-Casual Scene
A Shoe In: Footwear Climbs to the Top
Cheers! Raising a Glass to Beverage Retail
Placer.ai Office Index: June 2023 Recap
Placer.ai Mall Index June 2023 Recap – A Turn of the Tide and a Dive into Open-Air Lifestyle Centers
Local Kitchens: Redefining the Restaurant
Unlocking Urban Insights: The Value in Manhattan’s Employees
Ohio State Parks On The Rise
How is Inflation Impacting the High-Income Shoppers?
Five Fast-Growing Dining Chains
What To Expect From Prime Day and July Sales Events in 2023
The State Of Fashion: How Are Apparel Retailers Faring in 2023?
2023’s Latest Dining Success Story: GEN Korean BBQ House
The NBA Finals: A Location Intelligence Perspective
Moving the Market: The Impact of Domestic Migration on Housing Costs
Post-Pandemic Museum Update
The Darden-est Things
The Enduring Demand for Urban and Suburban Retail
Leveraging Data to Evaluate the Impact of Municipal Investments
Trader Joe's Success Amidst Food Inflation and Changing Consumer Behavior
Placer.ai Office Index: May 2023 Recap
Fitness at its Fittest: Staying Strong in 2023
Movie Theaters, Off-Price, and Home Improvement: May 2023 Recap
Placer.ai Mall Index - May 2023 Recap
What’s Working for Bath & Body Works?
Why Are Specialty Grocers Thriving in 2023?
The CAVA Craze: A Location Intelligence Perspective on the Mediterranean Marvel
How Will Primark’s US Expansion Impact Target?
All Eyes on Eyewear
Northwestern U.S. Grocery Dive
Return of the Lunch: Salad Chains Are Thriving
Retail Media Networks – Off the Beaten Track
Bet Your Bottom Dollar: Discount and Dollar Stores Drive Foot Traffic
Ulta & Lululemon: Discretionary Spending On The Up
The Score After Q1: Sporting Goods Chains
Who Uses NYC Airports: Biting Into The Big Apple’s Main Transport Hubs
Off Price: Strength in The Face of Retail Challenges
Visits Improve for Home Improvement
Walmart, Target & Wholesalers in Q1 2023 – The Return of Mission-Driven Shopping?
Department Store Roundup: Q1 2023
Placer.ai Office Index: April 2023 Recap
Placer.ai Mall Index, April 2023 – A Rebound on the Horizon?
How Will Bed Bath & Beyond’s Bankruptcy Impact the Retail Space?
Buffet Restaurants: Filling Up on Foot Traffic
Thrift Stores: Vintage Visits Drive New Age in Apparel
The Windy City: A Hub of Post-Pandemic Opportunity
Diving into Dining Traffic - Q1 2023
Bring On The Joe
A Dollar (or more) For Your Thoughts: Five Below and pOpshelf
Dining Out With The Cheesecake Factory
Retail Foot Traffic Recap – March 2023
Digging Into 2023: McDonald’s and Chipotle Update
Placer.ai Office Index: March 2023 Recap