Kroger Hopes Vaccine Distribution Efforts Will Grow Its Healthcare Arm
Kroger Plans to Administer Millions of COVID-19 Vaccines
Grocery store chain Kroger (KR) has administered over 1.3 million COVID-19 vaccine doses and it plans to deliver millions more over the spring and summer. Kroger is the fourth-largest pharmacy operator in the US by script count. It operates 2,250 pharmacies and 220 clinics, mostly concentrated in the Midwest and the South.
In addition to helping with vaccine rollout, the grocer has also administered hundreds of thousands of COVID-19 tests, offered virtual healthcare services, and delivered prescriptions free of charge over the past year. The grocer hopes these efforts will help it expand its healthcare business even after the pandemic subsides.
Planning for Post-Pandemic Consumer Habits
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Competing With Other Pharmacies
Kroger’s pharmacy faces significant competition from other grocery chains offering pharmacy services and from companies focused on pharmacy operations. For example, CVS (https://sofimobile.page.link/?link=https%3A%2F%2Fwww.sofi.com%2Fsofimobile%2Fwealth%2Fbrokerage_tearsheet%2FCVS&efr=1&ibi=com.sofi.mobile&isi=1191985736&apn=com.sofi.mobile&ofl=https%3A%2F%2Fwww.sofi.com%2Fwealth%2Fapp%2Fstock%2FCVS) and Walgreens (https://sofimobile.page.link/?link=https%3A%2F%2Fwww.sofi.com%2Fsofimobile%2Fwealth%2Fbrokerage_tearsheet%2FWBA&efr=1&ibi=com.sofi.mobile&isi=1191985736&apn=com.sofi.mobile&ofl=https%3A%2F%2Fwww.sofi.com%2Fwealth%2Fapp%2Fstock%2FWBA) can sometimes offer lower prices on prescription drugs because of partnerships with insurance providers.
Walmart (https://sofimobile.page.link/?link=https%3A%2F%2Fwww.sofi.com%2Fsofimobile%2Fwealth%2Fbrokerage_tearsheet%2FWMT&efr=1&ibi=com.sofi.mobile&isi=1191985736&apn=com.sofi.mobile&ofl=https%3A%2F%2Fwww.sofi.com%2Fwealth%2Fapp%2Fstock%2FWMT), the largest grocer in the country, is investing in its healthcare arm and adding in-store clinics at many of its locations. As consumer habits change, there are many unanswered questions for the grocery industry and the healthcare industry. Kroger is working to position itself for success in a changing market.
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