By now, I’m sure everyone has heard the news that Rite Aid is buying the Brooks and Eckerd chain of drugstores, making it the largest chain on the East Coast. If you haven’t heard the news, check out these stories:
Now that we’re all caught up on the news, let’s review the consequences underlying this big merger. In this era of mega-supercenters (a la Walmart and Target), the little guy either learns to adapt and leverage the boutique concept, or they get squeezed out. We have seen this over and over again in different retail industries.
This is being played out in the pharmacy sector, as well. On USATODAY.com, the article entitled "Amid Rite Aid deal, independent drug stores ailing" summarizes some of the details that independent pharmacies totaled 47% of all stores in 1994, but they are now only 32% of the total stores.
The only independents I can think of in Richmond are the one on West Cary Street by VCU and Westwood Pharmacy. Anyone else?