Walgreens is a lead competitor in the drugstore industry. Throughout the years, Walgreens has developed a very well known and respectable name for itself by implementing various effective retail strategies. Like any company in a competitive market, Walgreens has its share of opportunities and threats and has remained at the top of the industry. This company must stay up to date with the trends of society to provide a wide variety of products and services to its very diverse customer base. Many customers are loyal to this company because of their frequent trips to the pharmacy; however, it's a one stop shop for everyday items like snacks, school supplies, household items and greeting cards. The competitive pricing and friendly employees keep customers loyal to Walgreens even if they are not making frequent visits to the pharmacy.
In 1901, a young man bought a small drugstore in Chicago. C. R. Walgreen's innovative ideas and unique hospitality enabled Walgreens to thrive and become America's premier pharmacy. C. R. Walgreen trained all his employees to provide fast and friendly service. He made it enjoyable to work at Walgreens, and since the pharmacy had a large customer base and was doing well, employees were paid relatively high wages. By 1910, Walgreens had developed a large clientele, and C. R. Walgreen decided to expand the company. The second Walgreens was established followed by the third. By 1920 there were more than forty Walgreens drugstores. It is remarkable that Walgreens has prospered so much over the years, despite a difficult beginning and the Great Depression. As of 2013, Walgreens is the nation's largest drugstore chain with net sales of 72.2 billion, net earnings of 2.5 billion, and has returned 1 billion in dividends to shareholders. The company currently employees 248,000 people in its 8,582 locations across the nation. .
One of this company's biggest threats is its competition with other companies that offers a pharmacy.