Monthly fuel bills add up to less spending
WHAT IT MEANS AND WHY IT’S IMPORTANT — Size matters, especially if it’s the size of the monthly fuel bill. Just because gas prices haven’t eclipsed $5 as many analysts had feared, doesn’t mean those lower-than-expected prices at the pump aren’t impacting buying and trip decisions, as evidenced by this latest survey.
(THE NEWS: Shoppers continue to alter purchasing behaviors amid rising gas prices. For the full story, click here.)
As of July 11, the average price for a gallon of regular was $3.631, according to AAA’s "Daily Fuel Gauge Report," and that’s almost 92 cents higher than this time last year.
Rising gas prices remains a big concern for retailers — 92% of Drug Store News readers said retailers certainly would lose trips if gas prices shot above $5 per gallon. However, consumer sensitivity to prices at the pump appears to be much lower than that $5 mark.
Retailers who underscore their value proposition stand the most to gain with today’s consumer: a shopper still reeling from the latest economic recession who’s concerned over what seems to be ever-increasing energy prices.
For example, CVS/pharmacy is going a long way toward raising its value visibility with its “MoneyTrashers” program, where the retailer delivers quarterly ExtraBucks reward statements to the mailbox. CVS/pharmacy also is tapping into social media to help drive that value proposition — “liking” CVS on Facebook, for example, provides tips to loyal consumers on how best to save at their local pharmacy.
Walgreens’ Joe Magnacca walks DSN.TV through the company’s hottest new store
NEW YORK — In an exclusive video store tour, Walgreens’ president of daily living products and solutions Joe Magnacca walked Drug Store News editor Rob Eder and the DSN.TV cameras through the new Duane Reade flagship store at 40 Wall St.
The first-ever co-branded Duane Reade-Walgreens store, which opened to the public July 6, could be called the Dean & Deluca of drug store retailing. Among key features, the store, which is located in the iconic Trump Building in the heart of downtown NYC, includes a vastly expanded beauty department with in-store nail and hair salons, as well as the new "Up Market" food concept, which takes "fresh" to an entirely new level with two in-store sushi chefs, a fresh juice/smoothie bar and much more. Check out the store for yourself in this DSN.TV video exclusive!
Click here for the exclusive DSN.TV video store tour with Walgreens’ Joe Magnacca.
Click here to see extensive photos of the new store.
Supervalu hosts Family Day at the Stockman & Dakota Corral at 11 stores
MINNEAPOLIS — Supervalu said that its banners are hosting an event at 11 locations nationwide on Saturday to celebrate the company’s private-label Angus premium beef brand.
The Family Day at the Stockman & Dakota Corral event will include games, a celebrity grill-off showdown and more.
The event will be held from 10 a.m. to 3 p.m. local time on Saturday, with the celebrity grill-off showdown will take place from 11 a.m. to 1 p.m.
Click here to view the list of stores participating.