Last year was a challenging one for the retail pharmacy business. For example, Walgreens Boots Alliance said it would close about 1,200 stores from 2025 through 2027, with this year seeing the end of 500. Rite Aid has closed many stores as part of its bankruptcy filing.
This isn’t a new story. From 2011 to 2021, nearly 30% of U.S. pharmacies shut their doors, with independent stores disproportionately affected, according to a recent report published in Health Affairs.
As a new research report from Colliers says, the role of retail pharmacies has changed over time, moving far beyond roles as medication dispensaries. Pharmacists are “among the most accessible and trusted sources of medical advice” while the locations provide wellness-related products, home goods, groceries, and personal products.
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