Rite Aid Pharmacy can blame itself for perpetually lagging behind drugstore rivals like CVS and Walgreens. A new report claims the chain has trouble keeping products listed in sales ads nearly 80 percent of the time.
In Not as Advertised: Out-of-Stock Sale Items and Rite Aid’s Bid for Customer Loyalty, a conglomerate of drugstore unions blasts the pharmacy’s archaic manual stocking system.
Rite Aid offers customers a loyalty card for discounts on sale items, usually marked by a bright yellow sticker. When products go out of stock, workers manually slap blue stickers on in their place along with the date a new order is placed – some of which were found to be more than six months old.
The group paid 1,110 visits to about 220 of the chain’s locations across the country (five visits per store) and found 40 percent of stores had at least one sale item missing every time.
Seventy percent lacked sale items in four out of every five visits. New York City establishments were particularly found to be lacking, with 20 percent of items absent from shelves.
Retail loyalty systems are one of the most effective ways to save, but if customers are confronted by empty shelves chances are they’ll either walk out with a pricier item or search for lower prices elsewhere.
In the chain’s defense, spokeswoman Susan Henderson told Time Money Land they weren’t contacted before the study was conducted: “While we are disappointed to hear of any out of stock situations, it is difficult for us to accurately assess and comment on these findings,” she said.
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United States citizens now spend roughly 16% of their total time online on Facebook. That’s an enormous figure.
In Q3 2010, the number was around 10% and it shows no sign of slowing down. That is bad news for Google, Yahoo, Microsoft, and AOL, which are struggling to compete. Of those four, only Google increased over the last year but not even the search giant could match Facebook’s growth.
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In the real world, using salary as a measure, a Goldman Sachs staffer is worth much more than a Wal-Mart employee. An average Goldman Sachs employee is paid a bonus of $500,000, while the average Wal-Mart employee salary is $20,000.
On Facebook, the opposite is true. In the eyes of an advertiser, a Wal-Mart employee is worth nearly twice as much as a Goldman employee, according to Facebook’s suggested advertising bid prices.
Kim-Mai Cutler at VentureBeat looked at Facebook’s suggested advertiser bid price on per category basis. What she found is pretty interesting.
As you can see in this chart, the most expensive company to target is Facebook. The next most expensive is Wal-Mart. Goldman and Bain employees are duking it out for the cheapest.
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Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
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