Walgreen’s President On Recession Impact

In case you didn’t see it, Gregory Wasson (President and COO) from Walgreens did an interview with The New York Times on how the economy is impacting them and answered a few other questions about their strategy.

Q. How is the slowdown affecting purchases of prescription drugs and health and beauty aids?

A. We certainly are seeing a slowdown in prescription drugs. In this economy, patients are not seeing their doctors as frequently. There may be some cases they are skipping doses of medications to control costs. As far as over-the-counter items, we see consumers definitely looking for value. We’re also seeing a big increase in private label product. The consumer is willing to buy down.

To read the rest of the interview…click here.

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