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Drug Store Loyalty Programs at a Glance
Pharmacy & Drug Store Landscape
Premium Loyalty Programs & Consumer Desires
Types of Retail Loyalty Programs
Loyalty Program Stats & Highlights
Pharmaceutical Spending by Channel
Ranking of US Pharmacies by Rx Revenues
Online & Mail Order Sales
The Complexities of the Loyalty Program
Standout Loyalty Features & Winning Formula
COVID-19 Challenging New Landscape
Healthcare Loyalty + Banking Innovations
Key Case Studies / Examples
Trend Implications: The drug store loyalty landscape is becoming complex, receiving internal and external market pressures from the healthcare ecosystem as well as tech players looking to disrupt the space. With healthcare remaining a growing and hot industry, many companies remain focused and committed to it, with some banks offering great perks and rewards.
Key Insights: While the landscape of drugstore and pharmacy loyalty remain complex, it is clear that Americans appreciate their good deals and certainly remains true for pharmaceuticals.
The drugstore loyalty landscape is ruled by two dominant players with little room for other players to rise.
While brick and mortar loyalty remains dominant, other healthcare players have begun their own partnerships to offer unique discounts.
Business Opportunity: While the healthcare opportunity remains clear, the perks approach many banks have taken is a crowded space and one hard to navigate as evidenced by previously failed attempts.
As healthcare companies vertically integrate, there remains opportunity to partner with these growing networks to offer built in banking infrastructure and backbone for growing connectivity.
Drug store loyalty program matrix including insights on the cards like:
Ease of Earning
Ease of Redeeming
While Drugstores play a critical role in pharmaceutical acquisition, there are many other players that include insurers, PBMs, and specialty pharmacies. In many cases, especially in the current landscape, these lines have begun to heavily blur, showcasing an ecosystem that often has a provider (such as CVS or Optum) all under one company.
Premium Loyalty Programs & Consumer Desires: Customers say loyalty is more difficult for retailers to maintain than ever before. Those who belong to premium loyalty programs are frequent purchasers, as many premium loyalty members shop at that program’s retailer at least once a month.
Types of Retail Loyalty Programs: Premium loyalty programs are valuable tools for marketers that are seeking to expand CX with key customers. Close to 70% of premium loyalty members plan to join additional premium programs in 2020.
Stats & Highlights: The most popular programs are related to groceries, dining, drugstores, and apparel. Americans decide not to enroll in loyalty programs for reasons like they don’t shop at the retailer enough or they don’t see enough value.
Members of retailers’ customer loyalty programs generate more revenue for retailers than do customers who are not members of the loyalty programs. The key areas that retailers focus most on in terms of their loyalty programs are program growth and revenue production metrics.
While retailers believe that their programs are differentiated from those of their competitors, customers don’t. Some of biggest challenges retailers face regarding their loyalty programs relate to technology, strategy, financial management and people/talent.
The components and key features of Sephora’s Beauty Insider Program, EyeBuyDirect’s Focus Loyalty Program, and Boots’ Advantage Card include invitation only, tiered programs with mobile apps and personalized offers.