Walgreens vs Walgreens
August 6, 2013 8:04 PM Subscribe
Is there a way to settle this bet between me and my wife? Which Walgreens makes more money - the one in Times Square or the one on the strip in Las Vegas (which we happen to be standing in right at this very moment)?
I would bet Las Vegas. There's a Duane Reade on every corner in New York. You don't have to go to Walgreen's.
posted by roomthreeseventeen at 8:09 PM on August 6, 2013
posted by roomthreeseventeen at 8:09 PM on August 6, 2013
How much free time do you guys have on your hands and how much is on the line in this bet? I think an easy way to guesstimate would be to pick 6 random times of the day, go in the Walgreens, lurk next to a register and tally up all the purchases at that register for ten minutes at a time. Multiply by number of registers in each store.
You would also have to factor in the store rent in NYC vs. Vegas.
posted by cairdeas at 8:09 PM on August 6, 2013 [2 favorites]
You would also have to factor in the store rent in NYC vs. Vegas.
posted by cairdeas at 8:09 PM on August 6, 2013 [2 favorites]
Clarification request. Makes more money = takes in more revenue, or earns a greater profit? And are you adjusting for square footage, or just straight up store vs. store?
posted by Conrad Cornelius o'Donald o'Dell at 8:10 PM on August 6, 2013
posted by Conrad Cornelius o'Donald o'Dell at 8:10 PM on August 6, 2013
Just ask. If you're feeling chatty, befriend the manager there in Vegas. "Can you help us settle this bet? Here's the number to the Times Square location; would you be willing to call the manager for us? We don't even need to know the numbers, just which is higher!" If you ask right, and if the manager's friendly, that should work. People in Vegas understand the importance of bets. Besides, you'll stoke the manager's curiosity.
If you're not the chatty type, then mail a letter to Walgreens corporate. Tell them it's a bet between you and your wife. Somebody in customer relations will find it either funny or charming and take the ten minutes to get your answer.
posted by cribcage at 8:18 PM on August 6, 2013 [12 favorites]
If you're not the chatty type, then mail a letter to Walgreens corporate. Tell them it's a bet between you and your wife. Somebody in customer relations will find it either funny or charming and take the ten minutes to get your answer.
posted by cribcage at 8:18 PM on August 6, 2013 [12 favorites]
I would bet Las Vegas. There's a Duane Reade on every corner in New York. You don't have to go to Walgreen's.Duane Reade is now a subsidiary of Walgreens, in case that is something you would take into consideration in your calculation.
posted by roomthreeseventeen at 11:09 PM on August 6 [+] [!]
posted by xiaolongbao at 8:20 PM on August 6, 2013 [1 favorite]
There's some data on the Investors pages, but I can't easily find store rankings.
I suggest writing to the address listed under media relations.
posted by Miko at 8:26 PM on August 6, 2013
I suggest writing to the address listed under media relations.
posted by Miko at 8:26 PM on August 6, 2013
Here are the locations in and around Times Square. One 'true' Walgreens and 9 Duane Reades. I'd guess you're wondering about the Walgreens-branded store only to make it simpler?
posted by xiaolongbao at 8:31 PM on August 6, 2013
posted by xiaolongbao at 8:31 PM on August 6, 2013
Whoever runs their twitter might be amused enough to reply, maybe if you take a pic of the Vegas location they can RT or something.
posted by bleep at 8:38 PM on August 6, 2013 [1 favorite]
posted by bleep at 8:38 PM on August 6, 2013 [1 favorite]
Response by poster: "Clarification request. Makes more money = takes in more revenue, or earns a greater profit? And are you adjusting for square footage, or just straight up store vs. store?"
That is an excellent question, and to be honest, we had not thought through it that far!
posted by brozek at 8:43 PM on August 6, 2013
That is an excellent question, and to be honest, we had not thought through it that far!
posted by brozek at 8:43 PM on August 6, 2013
My bet's on Vegas. (I'm thinking revenue is the better form of comparison, but I do wonder about the overhead costs.) There are two on the strip, actually-- the one by Planet Hollywood, and one to the north on or in the Venetian. (I'm only familiar with the one at PH.)
Drug stores are comparatively rare in LV, and it's a lot harder to get around-- illegal to flag cabs (what a racket!) and public transit is weaksauce. On the other hand, the things many people go to the drugstore for (the most basic OTC meds, water/drinks/snacks, batteries) can be gotten at any hotel store. In New York, though, people have more to choose from, and can get around more easily from location to location. Walgreens too busy at my starting point? I'll try again at my destination.
In the last two years, the skywalk built the Strip, and attached to the side of PH, eliminated pedestrians from that intersection across from the Cosmo, so more foot-traffic is directed past Walgreens as they pass over Flamingo Blvd there. You can still cross at street level a little to the north where the PH property meets the Paris property, but being efficient while walking is an important thing on the Strip, as you are surely noticing.
Stay hydrated, and always bet on black!
posted by Sunburnt at 8:46 PM on August 6, 2013
Drug stores are comparatively rare in LV, and it's a lot harder to get around-- illegal to flag cabs (what a racket!) and public transit is weaksauce. On the other hand, the things many people go to the drugstore for (the most basic OTC meds, water/drinks/snacks, batteries) can be gotten at any hotel store. In New York, though, people have more to choose from, and can get around more easily from location to location. Walgreens too busy at my starting point? I'll try again at my destination.
In the last two years, the skywalk built the Strip, and attached to the side of PH, eliminated pedestrians from that intersection across from the Cosmo, so more foot-traffic is directed past Walgreens as they pass over Flamingo Blvd there. You can still cross at street level a little to the north where the PH property meets the Paris property, but being efficient while walking is an important thing on the Strip, as you are surely noticing.
Stay hydrated, and always bet on black!
posted by Sunburnt at 8:46 PM on August 6, 2013
You could definitely ask. The managers will have stats on relative store performance, and don't really have any reason not to tell you. I'm aware of which Target stores are the best performers in the chain overall and in liquor sales just from having lived in the towns where they're located -- it's no secret.
posted by asperity at 8:57 PM on August 6, 2013
posted by asperity at 8:57 PM on August 6, 2013
I'm guessing NYC. Tourists in vegas want everything for free and most of them just went broke. Prices are probably the same at the strip as they are everywhere else in Nevada, and the patrons have plenty of free beer and don't need medication for anything but fun.
People in Times Square just paid 100$ to watch a Broadway show at 10am, they have no idea that a plastic umbrella doesn't cost 35$. Plus the overpaid new yorkers who work around there have every possible ailment and will pay top dollar for literal snake oil over the counter if necessary.
All that said the most profitable Walgreens in the World is probably in Florida, and all it does is stock Oxy.
posted by Potomac Avenue at 9:43 PM on August 6, 2013
People in Times Square just paid 100$ to watch a Broadway show at 10am, they have no idea that a plastic umbrella doesn't cost 35$. Plus the overpaid new yorkers who work around there have every possible ailment and will pay top dollar for literal snake oil over the counter if necessary.
All that said the most profitable Walgreens in the World is probably in Florida, and all it does is stock Oxy.
posted by Potomac Avenue at 9:43 PM on August 6, 2013
I've done a fair amount of localized purchasing analysis for a different industry, and in general NYC always comes out on top. I'd bet NYC, and honestly, if I was a betting man I'd put money on NYC. Here are a few things that you might want to consider:
1. profitability per square foot.
2. Localized markup of product.
3. Product mix - especially at the pharmacy - (NYC will have a greater number of people and greater number of medicines prescribed there).
4. It isn't a measurement of just throughput capacity, it is a measure of average shopping cart. The increased purchase power of NYC vs anywhere in the world will correlate with a higher end shopping cart - which is further exacerbated by the NYC markup factor. Only needing 3 people in NYC for equivalent sales of 5 people would benefit NYC greatly.
posted by Nanukthedog at 11:38 PM on August 6, 2013 [1 favorite]
1. profitability per square foot.
2. Localized markup of product.
3. Product mix - especially at the pharmacy - (NYC will have a greater number of people and greater number of medicines prescribed there).
4. It isn't a measurement of just throughput capacity, it is a measure of average shopping cart. The increased purchase power of NYC vs anywhere in the world will correlate with a higher end shopping cart - which is further exacerbated by the NYC markup factor. Only needing 3 people in NYC for equivalent sales of 5 people would benefit NYC greatly.
posted by Nanukthedog at 11:38 PM on August 6, 2013 [1 favorite]
Go when business is slow and ask the manager (IIRC, all Walgreen's managers are pharmacists). Although he/she isn't likely to know the details re the NYC store, you could at least get an educated guess.
posted by she's not there at 11:43 PM on August 6, 2013
posted by she's not there at 11:43 PM on August 6, 2013
In other words, what cribcage said. (It is so annoying when people post a comment without reading what others have already written.)
posted by she's not there at 11:46 PM on August 6, 2013
posted by she's not there at 11:46 PM on August 6, 2013
Here's another thing to consider: beer. Can pharmacies in Nevada sell alcohol? If not, then I can't imagine the Vegas store beating the Times Square store, because pharmacies in New York most definitely can and do sell beer. (Hell, the DR in Union Square now sells beer on tap in growlers!) And, needless to say, that's a very good way to make money.
posted by Conrad Cornelius o'Donald o'Dell at 7:22 AM on August 7, 2013
posted by Conrad Cornelius o'Donald o'Dell at 7:22 AM on August 7, 2013
Something to gnaw on. Walgreens used to be my customer and I once asked, "why are you guys always across the street from CVS?" The answer may shock you. Apparently two drug stores next to each other have more transactions than a drug store all on it's lonesome.
Here's an article about it.
Go figure.
posted by Ruthless Bunny at 7:45 AM on August 7, 2013
Here's an article about it.
Go figure.
posted by Ruthless Bunny at 7:45 AM on August 7, 2013
Apparently prescription sales were 63% of Walgreens' profits in 2011, they're probably like 80% by now. I'm guessing there are more NYC residents filling prescriptions than tourists visiting the strip.
posted by RobotVoodooPower at 7:59 AM on August 7, 2013
posted by RobotVoodooPower at 7:59 AM on August 7, 2013
Almost certainly Las Vegas, because doesn't it sell booze as well as beer? I don't believe you can buy liquor in the Walgreens in Times Square, but the last time I was in Vegas, my husband bought a fifth of bourbon at the Walgreens on the Strip.
posted by devinemissk at 9:39 AM on August 7, 2013
posted by devinemissk at 9:39 AM on August 7, 2013
This thread is closed to new comments.
posted by oceanjesse at 8:07 PM on August 6, 2013