New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 06/18/2014 -- In 2013, growth for health and beauty specialist retailers reached 4% in current value terms, a one percentage point increase over the review period average. The 4% growth represented the strongest single year growth since 2008. It experienced very steady growth over the review period, never falling below 2%, due to the strong performance by all channels. Optical goods stores recorded the lowest current value growth of 2%.
Walgreens was the largest health and beauty specialist retailer over the whole of the review period and in 2013 held 24% value share or US$69 billion in sales. Walgreens' sales grew by 3% after experiencing a 4% decline in 2012. This decline was tied to the retailer's disagreement with pharmacy benefits manager, Express Scripts. The latter accounted for 10% of the store's pharmacy sales and the loss was even greater because of the decrease in store traffic. The two companies agreed to a new deal instituted in September 2012. Walgreens managed to recoup some of its loss but sales remained lower than its 2011 levels as many customers established relationships with competitors CVS and Rite Aid. In august 2013, Walgreens and Express Scripts offered a new plan called Smart90 that will allow certain members the choice of receiving 90-day supplies of maintenance medications through either home delivery or at Walgreens pharmacies for the same price. Walgreens hopes that this new partnership will encourage customers to return who departed the pharmacy in 2012.
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Health and beauty specialist retailers is expected to grow by a value CAGR of 3% in constant 2013 prices over the forecast period, considerably higher than store-based retailing's 1% CAGR. Growth in the channel will be led by drugstores/parapharmacies with a predicted 4% value CAGR and beauty specialist retailers with 3% in constant 2013 prices. While these two channels are expected to lead growth, all outlet types will contribute and no channel is expected to experience a decline.
Discover the latest market trends and uncover sources of future market growth for the Health and Beauty Specialist Retailers industry in USA with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Health and Beauty Specialist Retailers industry in USA, our research will save you time and money while empowering you to make informed, profitable decisions.
The Health and Beauty Specialist Retailers in USA market research report includes:
- Analysis of key supply-side and demand trends
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