CVS Pharmacy is one of the largest American pharmacy chains. In addition to providing prescription drugs, CVS offers a wide range of products, including cosmetics and seasonal goods. As for its current fulfillment process, it is possible to buy its products directly in pharmacies and on its online site. However, although the company’s income grows every year and millions of Americans use its services, many unhappy clients leave it, preferring other drugstores.
The pharmacy fulfillment process improvement, aimed at retaining customers and attracting new ones, represents a significant financial opportunity for CVS, contributing to an increase in the company’s income. The customers who leave the chain reduce its revenue: for instance, a million clients could bring almost $1 billion. Therefore, if CVS implements the necessary improvements and manages to keep all clients, it will increase its income.
I would advise CVS to improve several aspects to keep the customers. CVS should increase the number of employees because the massive influx of visitors makes it difficult to concentrate, leading to dire consequences. Tired employees accidentally give customers the wrong drug; therefore, clients may suffer, and the company will pay huge fines (Masters, 2021). Since last year Amazon Company began to deliver drugs to customers at home, the shares of other pharmacy chains, including CVS, fell (Pound, 2020). Therefore, CVS can also think about this format, especially during the pandemic. The CVS Rewards program also requires improvement: customers have to sign a HIPAA waiver to receive it, allowing the company to disclose confidential information. Thus, CVS should pay more attention to several issues of its operation.
To implement all these changes, CVS should improve its IT system and develop its site. Since many visitors complain that the length of the receipts is often enormous and can be as long as 5 feet, CVS can send them to clients due to its sites. Thus, CVS still needs several changes to remain one of the most popular drugstore chains in the United States.
Although CVS belongs to the most extensive pharmacy brands, several omissions should be corrected, which will positively affect the brand’s reputation and, accordingly, its revenue. As for general principles of the redesign process, CVS needs to understand what kind of services its customers want, orient in the outcome, increase the staff, and develop its site. Implementation of several improvements will make this large company an American favorite.
Masters, K. (2021). Understaffing at some CVS pharmacies in Virginia has put patients at risk, former employees say. Virginia Mercury. Web.
Pound, J. (2020). Walgreens drops 9% to lead drug store stocks lower after Amazon launches pharmacy business. CNBC. Web.