Walmart is aggressively positioning itself to take advantage of the market as pharmacies such as CVS and Walgreens see a slowdown in demand and begin shuttering their stores. The retailer has recently started offering low-cost delivery service prescriptions to some homes in a few states; plans are already underway to roll out this service across the country by early next year. This new service has the capacity to revolutionize the way a lot of people in America fill their prescriptions and here is everything you need to know.
How much does Walmart’s prescription delivery cost?
Walmart’s new service is not just about convenience – it is also affordable. The cost for delivery is set at $9.95 for standard customers, but if you are a Walmart+ member, you get the prescription delivery service for free. This perk is part of Walmart’s push to offer more value to its loyal customers and outshine its competitors.
- Standard delivery: $9.95
- Free for Walmart+ members
For anyone who orders regularly from Walmart or already relies on their services, this can add up to significant savings.
Why are CVS and Walgreens Struggling?
While Walmart is expanding its services, CVS and Walgreens are closing hundreds of stores across the country. CVS announced that it will close 900 stores as part of its restructuring efforts, and Walgreens plans to shut down about 1,200 locations over the next three years.
The challenges facing CVS and Walgreens include:
- Falling reimbursement rates: Pharmacies are receiving less money back from insurance companies for prescription drugs.
- Increased competition: Companies like Amazon and Walmart are offering cheaper, more convenient options.
- Inflation and reduced consumer spending: People are spending less on non-essential items, which affects profits from products like cosmetics and household supplies.
These issues have forced both CVS and Walgreens to reevaluate their business models and scale back their operations.
What makes Walmart’s service stand out?
Walmart’s strength lies in its ability to offer low prices and convenience. Along with delivering prescriptions, Walmart allows customers to combine their medication delivery with other items they may need – like groceries or household essentials. This all-in-one shopping experience is a game-changer for busy customers who do not have the time to make multiple trips to the store.
Here are a few features that make Walmart’s prescription delivery service unique:
- Tamper-evident packaging: Ensures your medication arrives safely and securely.
- Real-time tracking: You can follow your prescription’s journey and receive a photo when it’s delivered.
- Consultation option: If you order a new prescription, Walmart prompts you to have a phone consultation with their pharmacy.
Which States will Walmart start delivering prescriptions in?
Walmart’s prescription delivery service has already launched in six states:
- Arkansas
- Missouri
- New York
- Nevada
- South Carolina
- Wisconsin
By the end of January, Walmart plans to offer prescription deliveries in 49 states, with the exception of North Dakota due to state laws.
This new delivery option makes it easier for customers in these states to have their prescriptions – and other household items – delivered right to their door.
Will Walmart’s prescription delivery date take market share from CVS and Walgreens?
While CVS and Walgreens currently hold the largest market share for prescription drugs in the U.S., Walmart’s new service poses a significant threat. CVS leads with over 25% of the market, while Walgreens follows at nearly 15%. In contrast, Walmart only holds around 5% of the prescription drug market. However, as Walmart rolls out its prescription delivery service in more states, this number could grow, potentially taking a slice of the pie from its competitors.
Tom Ward, Walmart’s Chief E-Commerce Officer, emphasized that this service was introduced in response to customer demand. “This is actually the No. 1 service requested by our customers,” Ward said, pointing out that people want convenience when it comes to their health and wellness needs.
By offering affordable, reliable delivery services, Walmart is positioning itself as a major player in the pharmaceutical industry, and this could spell trouble for its struggling rivals.
