Retail News Breaks Archives
Walgreens, CVS recognized as top retail brands
March 12th, 2010
DAYTON, Ohio – Walgreens and CVS are near the top of the list of the nation's most valuable retail brands in 2010, according to Interbrand Design Forum.
In the brand consultancy's second ranking of the top 50 U.S. retail brands, Walgreens finished at No. 5 and CVS came in at No. 6. Last year, Walgreens was seventh and CVS was fifth.
The No. 1 retail brand? Once again, it was the world’s biggest retailer, Walmart.
Walgreens and CVS were the only drug store chains on the list. Others in the top 10 of the Most Valuable U.S. Retail Brands list were Target (No. 2, up from No. 4 in 2009), Best Buy (No. 3, down from No. 2 in 2009), Home Depot (No. 4, down from No. 3 last year), Sam's Club (No. 7, up from No. 9 in 2009), Dell (No. 8, down from No. 6 last year), Coach (No. 9, up from No. 10 in 2009) and Amazon.com (No. 10, up from No. 14 last year).
Interbrand valued retail brands on the basis of how much they stand to earn for their companies in the future. It assessed brands in such areas as financial strength, market leadership, influence in consumer selection and the likelihood of generating ongoing revenue.
The consulting firm cited Walgreens' efforts to improve its pharmacy, health services and photo offerings as well as its enhanced web site and mobile access options. The chain also was recognized for encouraging the use of electronic prescriptions, which totaled 45 million in 2009 versus 15 million the year before.
CVS, meanwhile, was recognized for its innovative integration of its retail pharmacy and Caremark pharmacy benefit management businesses, a combination that Interbrand called "a game-changer" and said is getting stronger by enabling the stores to capture business from Caremark members. Also cited were CVS' remodeled stores, which Interbrand said offer a pleasant shopping experience, as well as its loyalty card program, which the consultancy noted is driving front-end business.