Over-the-counter drug sales topped $36 billion in 2020
Great insight as always. I never thought of non-prescription drugs this way before. Very interesting.
These retail chains also invest in something called CLV (Customer Lifetime Value: https://www.inc.com/jonathan-steiman/whats-the-lifetime-value-of-your-customers.html). Basically, they want you to come back regularly and buy these drugs. Companies spend a lot of resources trying to figure out this value and create incentives.
Great insight as always. I never thought of non-prescription drugs this way before. Very interesting.
These retail chains also invest in something called CLV (Customer Lifetime Value: https://www.inc.com/jonathan-steiman/whats-the-lifetime-value-of-your-customers.html). Basically, they want you to come back regularly and buy these drugs. Companies spend a lot of resources trying to figure out this value and create incentives.