The Top Drug Retailers Battle for RX Sales in Durham, NC
The ‘Research-Triangle’ in North Carolina is providing more than just vast information from its top schools in the area. The Durham-Chapel Hill, NC core-based statistical area is proving to be a battle ground for pharmacy retailing, with the ‘Big Three’ leading the way.
What makes the Durham area so interesting is the amount of diverseness in the retail environment. CVS, Rite Aid, and Walgreens – the largest traditional pharmacy chains in the nation – hold the top three spots. The market also demonstrates how a high-performing regional chain – Kerr Drug – can succeed against the former. Kerr made a huge jump in market share from fiscal 2010 to fiscal 2011, opening one store while increasing its prescription drug market share by 2.5%. Walgreens also opened a new store, taking away share from CVS and Rite Aid while nearly closing the gap for the #2 spot.
Durham-Chapel Hill, NC CBSA*
*Source: 2012 Chain Store Guide Drug Industry Market Share Report
Supermarkets and supercenters have been increasing their presences in the pharmacy landscape, and the Durham market is no exception. Walmart opened a new supercenter in the area and increased its share 1.1% to land in the top 5. Even though Harris Teeter (also a regional chain) and national retailer Kroger both lost share in the market, the two companies operate a combined 11 pharmacies inside their grocery stores. Big-Box retailers Target, Costco, Sam’s Club, and Kmart round out the major retailers with pharmacies in the area.