Asked by Bryan Cakir on May 31, 2024
Verified
What is unique about drugstores as a general merchandise retailer? What competitive pressures could limit growth in sales and profits?
Drugstores
Retail shops where medications and other healthcare products are sold.
Competitive Pressures
Forces that challenge a company's market position, including competition from other firms, pricing strategies, and innovation demands.
- Understand the principal disadvantages and obstacles related to off-price and traditional retail models.
- Differentiate among various kinds of food and general merchandise retail entities and their defining traits.
Verified Answer
PL
Pamela LewisJun 01, 2024
Final Answer :
Drugstores are specialty stores that concentrate on pharmaceuticals and health and personal grooming merchandise. Prescription pharmaceuticals represent almost 70 percent of drugstore sales. Competitive pressures will continue from other kinds of retailers who expand their product assortments to include items that were once the province of drugstores. In addition, pressures will continue to mount on the high prices of drugs and to reduce health care costs.
Learning Objectives
- Understand the principal disadvantages and obstacles related to off-price and traditional retail models.
- Differentiate among various kinds of food and general merchandise retail entities and their defining traits.
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