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Health and Beauty Specialist Retailers in the US

United States beauty specialist retailing market: $330 billion industry by 2017

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2014-02-25 20:47:01 - Health and Beauty Specialist Retailers in the US - a new market research report on

Walgreen and CVS Caremark, along with another parapharmacy/drugstore retailer, Rite Aid, collectively accounted for 58% of the United States beauty specialist retailing market value sales in 2012. The leading players continued to grow through expansion into strategic locations, improved store formats and wider product mixes. They also benefited from expanding their respective private label lines, which appealed to consumers looking for low-cost over the counter (OTC) healthcare products and grocery products. These retailers hope to benefit from consumer demand for convenience by increasing the selection of impulse food and drink products, extending opening hours and continuing to establish stores in busy locations. However, Walgreens stores lost billions of dollars of revenue from the Express Scripts incident in 2012, and CVS



was able to benefit from that opportunity.

Health and beauty specialist retailers sales grew by 3% in current value terms in 2012. Growth was slightly lower than the review period CAGR as Walgreens sales growth stalled after the tumultuous parting of Express Scripts early in the year. The major drugstore chain lost many customers during the dispute, and although the two sides renegotiated a contract mid-way through the year, it will be a challenge to win back those customers who left for rival CVS Caremark or retailers in other channels with in-store pharmacies, such as mass merchandisers, supermarkets and hypermarkets.

In constant value terms, health and beauty specialist retailers is expected to grow at a CAGR of 4% through to 2017, slightly higher than in the review period. Each channel will contribute, as they have historically, but parapharmacies/drugstores is expected to contribute the most, with a 4% CAGR expected. Diversification of products and services will be necessary for these retailers as the traditional pharmacy-patient relationship changes.

More and more consumers are migrating to alternative channels and options for their prescription drug coverage, often because they can find a lower price elsewhere, and parapharmacy/drugstore operators must offer new ways to draw customers back into their stores. Walgreens new flagship stores present a compelling model in this regard and future growth may depend on retailers ability to execute the new paradigm. Competition between the major chains will remain heated, especially as further acquisition activity will be limited by the dwindling field of potential targets.

Key Headlines

- Health and beauty specialist retailers registers 3% growth to reach US$273 billion in 2012
- Moderate sales growth across all health and beauty specialist channels contribute to overall growth
- The number of outlets grows by 1% in 2012
- The top two companies, Walgreen and CVS Caremark, continue to dominate in value terms
- Over the forecast period, a CAGR of 4% is expected in constant value terms, with the category reaching US$330 billion in 2017

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