The Impact of Closures at Walgreens and CVS Starting Tomorrow
The news that both Walgreens and CVS pharmacies will be closed starting tomorrow to create more time for restocking shelves have left many wondering what this will mean. The closures will have an impact on customers, industry workers, and local businesses alike. Here, we take a look at what these closures will mean for individuals, industry workers, and small businesses.
Impact on Individuals
As Walgreens and CVS close their doors to restock, customers will have to find alternate pharmacies to fill their prescriptions and shop for personal care items. Here are some points to consider:
• Many individuals who have prescriptions filled at Walgreens and CVS are elderly and disabled and may find it difficult to locate a new pharmacy.
• While other pharmacies may honor the existing prescriptions, there could be a delay in transferring them or understand the customer’s needs or health plan.
• CVS and Walgreens often carry hard-to-find items like diabetic test strips, flex pens, and cold and sinus symptomatic relief medications, which may be difficult to find in alternate pharmacies.
• Customers may have to pay more as new pharmacies may have different costs for prescriptions.
Impact on Industry Workers
Though the closures are necessary to protect public health, industry workers at both Walgreens and CVS are experiencing repercussions from the decision.
• Employees whose employment is dependent on the pharmacies will be out of work for the duration of the closures and could face major financial losses.
• Those who are kept on will be subject to a busy and stressful environment as both companies will struggle to restock shelves fast enough to meet demand.
• Some employees may face a decrease in hours due to the backlog of work and long wait times.
Impact on Small Businesses
Small businesses that rely on customers from Walgreens and CVS to drive foot traffic and local commerce could suffer greatly from the closures.
• Many small businesses are supplied by the closed pharmacies and could face financial losses as they struggle to source new suppliers in a timely manner.
• The closures could be detrimental to small retail stores that rely on the pharmacies’ high foot traffic and have just recently reopened.
• The closure could have a long-term effect on small businesses in the area as customers develop relationships with, and loyalty toward, new pharmacies.
Walgreens and CVS’s closures to restock shelves potentially have far-reaching consequences for individuals, industry workers, and small businesses alike. Whether the move to close the pharmacies is beneficial in the long run will depend on how fast Walgreens and CVS are able to restock shelves and how long customers’ loyalty to new pharmacies lasts.