In its second-largest acquisition, Amazon buys the company for $970 million.
Shopper traffic to the bargain pages at online pharmacy Drugstore.com is up 75% compared to a year ago, the company says. More importantly, orders from shoppers visiting bargain pages—coupons, sale and clearance items—have increased 90% from a year ago.
Shopper traffic to the bargain pages at online pharmacy Drugstore.com is up 75% over a year ago, the company reports. More importantly, orders from shoppers visiting bargain pages-coupons, sale and clearance items-have increased 90% from a year ago.
Drugstore says it is focusing on capturing the value-conscious shopper, most recently reducing prices on 2,000 products. The company says it has also seen increased interest in its Drugstore.com Dollars program that awards customers 5% cash back for every eligible product they purchase during a calendar quarter. Customers may use their credit toward a purchase in the month following the quarter.
Drugstore.com, No. 48 in the Internet Retailer Top 500 Guide, reported sales growth of 6% in the first quarter and the highest net income in its history.
Drugstore is benefiting from consumers’ focus on spending on necessities. While consumers continue to cut back or be very cautious about non-essential spending, sales at health and personal care stores increased 5.4% year over year in April, the U.S. Department of Commerce reported this week.