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Forbes reports that Walgreens is developing more than 30 small-format pharmacies for urban areas that will have a strong self-care and wellness component.

The story frames the strategy this way: "As Walgreens examines its future real estate needs and sheds costs and corporate jobs to be more competitive in the future, look for smaller stores that the retailer will open 'in the big cities,' company executives disclosed this week. Walgreens plans to escalate cost cutting to more than $1.8 billion annually by fiscal 2022 from the current target of $1.5 billion annually and reconfiguring real estate and space will play a role."

The move follows similarly heath care-driven efforts by CVS and Walmart, though those new operations appear to be larger than the Walgreens format.
KC's View:
I completely agree with the expanded focus on selfcare/healthcare … but I'm a little confused by the apparent belief that this shift in focus is a cost-cutting measure. Hate to say it, but this stuff requires investment, a tolerance for pain, a willingness to fail, and a belief that internal disruption and entrepreneurship are required to compete these days.

Walmart and CVS don't appear to be thinking small. Far from it. It remains to be seen if Walgreens can measure up.