Walgreen Drug Company A Haven for Savings in the Best Location

Location Walgreen drug Store

The History Behind Walgreen Drug Store
Supply and demand is a wonderful thing. The growing need for low cost drug prescriptions was the impetus for Walgreen Drug super success. It started in 1901 when a pharmacist named Charles R. Walgreen bought the drugstore where he had been working as a pharmacist. This store was located in Chicago. Eight years later, Mr. Walgreen opened his second store and added a fountain soda and luncheonette to make it more public friendly. In 1952, Walgreen Drug opened its first self-service store. At this point, Mr. Walgreen was starting to expand on the idea of making Walgreen Drug store more of a shopping mart than just a drug store. As his company rapidly grew, Mr. Walgreen decided to incorporate his store. Mr. Walgreen also decided to make his own brand of prescription drug in order to have more control over the quality and competitive pricing over his rivals.

The Convenience of Walgreen Drug Location
In 1915 there were only 5 Walgreen Drug stores all located in Chicago. As the demand for low cost drug prescriptions increased, Walgreen Drug store responded. By the 1920′s Walgreen Drug store had introduced the malted milkshake in their stores to meet the demand for ice cream. Walgreen Drug store was becoming more family oriented in its response to consumer demand. By the mid 1920s, Walgreen Drug had opened 65 stores but they were all still in Chicago. Walgreen Drug was becoming famous for its low cost drug prescription. The demand was undeniable, especially during the depression years. In 1927, Walgreen Drug opened its first New York store. By the beginning of the 1930s, Walgreen Drug had expanded its operation to boast 397 stores in 87 cities.

The Great Depression: Walgreen Drug Still Thrives
All corporations felt the effects of the Great Depression. But Walgreen Drug experienced profit. In fact, during the 1930′s Walgreen Drug established a system wherein independent drug stores could sell Walgreen Drug products. By the 1940′s Walgreen Drug had 489 stores.

Present Day Walgreen Drug
In 1984, Walgreen Drug had 1,000 stores. Walgreen continued to diversify its interests, setting up optical stations, and 24 hour photo shops. But the 1990s saw a marked growth in Walgreen drug expansion. As more people were over the age of 50, more prescription drugs were needed. Thus, fierce competition ensued between Walgreen Drug and Wal-Mart. But Walgreen stayed ahead of its competition by keeping up with cutting edge technology. Walgreen Drug instituted what is called (SIMS) Strategic Inventory Management System, which allowed consumers to conveniently key in their prescriptions. This system allowed customers to quickly receive prescriptions. By March 2004, Walmart had opened its 4,000th store. Always staying a step ahead of its competition through research and understanding consumer needs, Walgreen Drug anticipated the need for 24 hour service stores. Thus far, as of 2008, Walgreen Drug store is unlikely to cease growing as new drugs are introduced. Walgreen Drug store is now the largest American drug chain store whose principal rivals are Wal-Mart, CVS, and Rite Aid.