What are the strengths, weaknesses and future prospects of shopper's drugmart

Shopper's Drugmart organization has several weaknesses, strengths, and prospects. The strengths include convenience, the latest products, quick and easy prescriptions, and prioritizing welfare. In addition, its weaknesses include intense competition and lack of globalization. It also has prospects, including significant investment, high business opportunities, global tie-ups, and leveraging brand equity.

Step-by-step explanation

Shopper's Drugmart is a Canadian retail enterprise based in Toronto, Ontario. It is the largest pharmacy chain in Canada, providing pharmaceutical, beauty, and health products. The retail has several weaknesses, strengths, and prospects. It has many stores across Canada to make life easier for citizens.

Strengths

 Drugmart strengths include convenience, latest products, quick and easy prescriptions, and employees' and customers' welfare. The chain retail shop is convenient since it has more than 1,300 stores opened in different locations in Canada (Hassanzadeh et al., 2018). It also offers online services where customers purchase products delivered to their doorstep. In addition, the organization offers the latest products such as skincare, makeup, and health items. It offers easy and quick prescriptions since a customer needs to inquire about a particular product that is instantly delivered to them. It also minds the welfare of its employees and customers by providing COVID-19 vaccines in walkways and appointment and unbiased customer service.

Weaknesses

The organization's weaknesses include intense competition and lack of globalization. It experiences high competition from local and international stores such as Walmart, Walgreens, Kroger, Rite Aid, Sobeys, Rexall, Logo, Timberland, and CVS Caremark. The competitors provide similar customer services with Drugmart, hence limited market share. In addition, it lacks a global presence in other countries, indicating that it sets its standards domestically (Papastergiou et al., 2018). It makes the organization lack globalization opportunities such as access to new cultures, markets, talents, technological advantages, and high standards of living across the globe.

Future Prospects

The future prospects of Shopper's Drugmart include investment, high business opportunity, global tie-ups, and leveraging brand equity. The chain store will have high investments enhancing funding of strategic research funding and healthcare policies. It will have a high business opportunities by marketing itself as a high brand and supporting health campaigns, leading to its expansion Elliott, C. (2019).  It will achieve global partnerships due to its expansion which will attract more investors. It will also leverage brand equity and extend its products and services into homecare category. Negative prospects include government barriers in the pharmacy industry affecting its operations.