According to The New York Times, small independent pharmacies in New York City are beginning to benefit from a decline in chain stores in the city.
The chain pharmacy industry nationwide has experienced major problems and disruptions recently. Pharmacists have conducted walk outs or even quit over poor working conditions and aggressive productivity targets. Online shopping has taken some sales away and anti-shoplifting measures, like the locked cases, are raising costs and making shopping at chain pharmacies less convenient, the story reported.
The personal connection is also appealing to consumers. “I’m the kind of person who likes to speak to the patients,” said Dr. Rana Makki, supervising pharmacist at Bronx Specialty Pharmacy, a few doors down from a Rite Aid, explaining why she works there instead of a chain. “We know who you are, delivery is faster here and there you have to deal more with people stealing,” she explained to the Times.
New York City is also a special situation when it comes to drug stores. While the total number of pharmacies grew slightly over the past year in the city, there is a robust independent pharmacy presence. The Times reported of the 2,964 pharmacies registered with New York State as of November, only about 15 percent were a CVS, Walgreens, or a Rite Aid.
The substantial number of local pharmacies in New York City stands out among the nation’s urban areas. A 2021 study found less than 1 percent of New York City residents live in a pharmacy desert. An extremely small number when compared to 13% of residents in Los Angeles, 20% in Chicago and 29% in Houston who do not have drug stores near their households.
But not all is rosy for the independent pharmacies. Drugstores in the city, including chains and independents, experienced twice as many thefts in 2022 compared with 2019, rising from 6,031 to 12,343 incidents. According to a recent report by John Jay College since 2006, pharmacy theft has risen by more than 500 percent — more than any other category of retail, the story reported.