CHAPTER 40THE RETAIL INDUSTRY: Not Your Father’s Drugstore

Michael PolzinDivisional Vice President, Corporate CommunicationsWalgreen Co.

Retailers are defined by the products they sell and the services they provide. Consumers head to the electronics store for a computer or Blu-ray DVD player. They do their weekly food shopping at a grocery store or mass merchandiser. For clothing, it’s typically the department store or specialty apparel store.

If a store’s focus is not clear, customers will not know why to shop there. To earn and keep customers’ loyalty, a store has to meet their expectations—and, more specifically, the customer’s needs for that particular shopping trip. Changing the mix of products or services carries the risk of confusing or ...

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