ws the flexibility to needed to rapidly adapt to the changes in consumer demands. Smaller stores exploit the niches and business areas that don’t meet the criteria of the larger chains (Drug Store News, 2/17/97).Use of technology to streamline inventory management, ordering, insurance claims and many other processes is critical to the survival for all stores, large or small. The use of point-of-sale systems, merchandise and accounting software, and sophisticated systems, which predict precise inventory levels needed at any given time, all reduce operating costs. This technology allows pharmacists to provide more time for personal service with customers (Drug Store News, 4/24/2000). Drugstore design has changed to provide greater convenience and accessibility. The aging of the population has caused storeowners to design stores with easy access, and no large, crowded parking lots and long lines at the checkout. This is part of the reason many stores are relocating to their own individual property with their own parking spaces (Las Vegas Review-Journal, 9/8/98). Convenience and a good selection of frequently purchased necessities will allow the drugstore to compete with convenience stores. Efficient management of the front-end offerings and auxiliary services will provide a higher profit margin than that of the pharmacy alone. There are numerous cosmetic and beauty fads throughout a year that require constant changing of products and displays to remain up-to-date. The total performance of each stock-keeping unit is critical and should be assessed using activity-based costing, with low performing items being eliminated (Retailing 2005). There currently exists an under-served market for ethnic cosmetics in many parts of the US. Prominent displays providing a variety of products meeting those of the surrounding demographics have the potential to draw customers to a store, boosting sales in all categories (Women’s W...
