Are CVS and Walgreen the same?

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Are CVS and Walgreen the same

Consumers Value Stores and Walgreens is the World’s Leading Store, particularly in the United States, as it is the largest drugstore.

If you live in a metropolitan area, you’ve probably noticed that your local Walgreens and CVS are often close to each other. These two stores are always put together, so people believe the same person owns them because they shared a block in New York for about a year.

They’re next to each other because they’re competing businesses. However, their unusual location provides them with a competitive advantage. Let’s find out more right now!

Are CVS and Walgreen the same?

No! CVS and Walgreens are not identical brands.

Why do CVS and Walgreens always appear together?

As everyone knows, these names (CVS and Walgreens) are always put together, as is their location. They are primarily located in the same place near; each other, and as we say, everything has a reason, and the same is valid here. 

Walgreens has approximately 18,750 stores on the planet, with over 9,200 in the United States alone. CVS has 9,900 locations. These well-known stores are clustered together because each Store is already aware of the existence or location of its competitor in that location and thus does not need to expend additional effort in locating them. 

Because of the hoteling model, two pharmacies are frequently located nearby. This trend explains how businesses and brand popularity would behave in specific locations.

As consumers search for goods in their area, this can impact large chain stores and local corner shops. In this case, the increase or decrease in sales could be attributed to foot traffic from people moving between locations nearby that offer the same goods.

Is Walgreens the owner of CVS?

Furthermore, as the ‘Nash Equilibrium’ dictates, if either of the two moved away from changing their strategy and away from each other, both would risk losing a lot of customers.

The answer is no; they are technically separate companies, and neither owns the other. CVS Health is the company that owns CVS. Walgreens, on the other hand, is owned by Walgreens Boots Alliance. For the time being, there is no CVS-Walgreens merger. The first is the property of CVS Caremark, which is part of the giant CVS Health corporation. Meanwhile, the second (which also owns Duane Reade) is a subsidiary of the WBA holding company.

What is the backstory behind these stores’ locations?

Although we have already discussed how their proximity can benefit each of them, there is also a fun story behind it. According to some articles, the owner of Walgreens divorced his wife, and to exact revenge, her wife opened a CVS right next to Walgreens.

Are CVS and Walgreens the same in profit?

No! They are both fantastic stores with a wide range of products, but as of November 2019, Walgreens was the most profitable.

The previous one reported a net income of $1.5 billion during its third quarter in 2018, while the following reported a net income of $677 million during its fourth quarter in 2018.

Who has the most stores?

These are the two largest pharmacy chains in the United States, and they both have many locations where you can fill a prescription, buy over-the-counter medication, or pick up some essential household items for less. Walgreens has nearly 18,000 stores worldwide, with over 9,200 in the United States; CVS has over 9,900 locations in the United States alone.

Conclusion! 

It is a matter of business, and the sellers’ main goal is to keep their customer’s loyalty and trust. We all know that, like every other trait of ours, we are never delighted with a single retailer. As the saying goes, curiosity kills the cat, so we frequently take alternatives because a human always wants change, and this change always benefits either one of the retailers. As a result, the best option for these nation-leading drugstores is to be located right next to each other.

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