Amazon forays into the pharmacy industry with Prime

3 min read | November 18, 2020 04:23 PM AEDT | By Kunal Sawhney

Google News:

Amazon forays into the pharmacy industry with Prime

Recent News

Why REIT Income Remains a Key Focus on ASX 200

Defensive Strength ASX 200 Hidden in Infrastructure Assets

Can ASX 200 Banking Giants Shape Retirement Security?

Can ASX 200 Wealth Leaders Shape Australia’s Retirement Future?

Make Kalkine Media
My Trusted Source

Summary

Amazon has launched its Pharmacy at doorstep business in the US market for consumers seeking prescriptions at their home.

Amazon Pharmacy is a new digital store on the Amazon website that allows customers to purchase medication online through the website or mobile app

A recent study has revealed that Amazon is a low price leader in 21 categories.

Now Amazon.com will deliver prescriptions at your doorstep. Amazon Pharmacy is a new store on the Amazon website, allowing customers to purchase medication online through the desktop website or Amazon application.

This move by the e-commerce giant is likely driven by the worthwhile US healthcare industry. Prime customers will get additional perks of two-day free delivery and lucrative discounts when not paying with insurance.

The pandemic has already scaled the operations of e-commerce players. And the latest move by Amazon depicts the urge to tap the potential demand of the online pharmacy industry.

Amazon’s highly successful Prime service depicts the focus of the company on its consumers. With a pharmacy store, the Prime service will likely deliver value addition to the consumers.

This decision to enter the US healthcare market will force the incumbent brick and mortar players to keep pace with the underlying changes in the industry.

Amazon Pharmacy store offers a similar browsing experience which is user friendly. The company said customers could easily browse medications, including branded and generic versions.

Customers will be able to check their insurance co-pay and the price without insurance, which would include the discounts offered by the company.

Amazon Pharmacy Vice President TJ Parker said that the business is designed to put the customer first and they continue working to make the store user friendly. Amazon customers can also compare prices and get medications delivered at their doorstep.

Low price leader across 21 categories

On 17 November, the company cited a study according to which Amazon is a low price leader across various categories.

The study compares the prices of over 18k products across Walmart, Target, Staples, Wayfair, Home Depot, Macy’s, Best Buy, Nordstrom, Chewy, Lowes, CVS, and Kroger.

It concluded that the e-commerce giant consistently and most often provides customers with the lowest prices across the product categories.

Amazon said they work hard to provide customers with the best prices across categories and products every day as the customers expect lower prices at the online store.

Home furniture, beauty, health and personal care, vitamins and supplements were categories, on average, where Amazon was found to be the best place to buy for large savings to customers.

The comparison also included categories like consumer electronics, household supplies, office supplies, electronics, appliances etc.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.