Driving over two-thirds of customer loyalty, companies are increasingly recognizing the power of the consumer experience as a brand differentiator. Walgreens is no exception, recently creating the role of chief customer officer after examining how vital CX is to understand growth strategies and profit opportunities for the company and accelerate its transformation, both digitally and in-person. Walgreen’s first-ever president of retail products and chief customer officer, Tracey Brown, stopped by Adweek’s Commerce Week to discuss the relationship between consumers and brands and why it is important to keep all channels at the forefront.
Evolving consumer expectations
From a global pandemic to social and racial unrest and skyrocketing inflation, the past few years have upended consumers’ lives, values, and spending habits.
“Thinking about the last couple of years, I think it’s taught us a lot about a lot of things: one, ourselves. Two, each other. Three, the healthcare system. Four, the inequities,” Brown explained. “So I think it has changed the expectations of what consumers want and expect from brands and from retailers. I think at the base of it is a notion of trust and connection.”
During the pandemic and in its aftermath, Brown said Walgreens became ‘uber-relevant’ thanks to its vaccination and covid testing services — growth the company is seeking to scale for the greater good.
“Our relevancy went to an all-time high,” she said. “When you think of what that means for our future, we are now pivoting to help improve the overall health and well-being of people in this country. We’re going to pivot and be both healthcare and retail, but at the heart of it. It’s about bringing more joyful lives through better health.”
Returning to Walgreens’ roots
Although the move is seen as a pivot, Brown said it’s more of a ‘coming home’ story.
“We’re coming back to our roots in a sense. We were founded by Charles Walgreens, a pharmacist,” she said. “It was about health. This pivot is about coming back to our DNA. But if you think about the healthcare system today, it is one of the few things that needs to continue to be transformed and disrupted. Walgreens plays a unique role in being able to drive that transformation.”
Partnering for success
According to Brown, pivoting to healthcare is a team sport, and Walgreens is relying on a broad range of partners to help them scale their success, from doctors to delivery services, insurance companies and everything in between.
“If you think about how messed up the healthcare system is today, if any one entity could solve the problem, I think they would have by now,” Brown said. “I think there is a real need around collective solutions. I think private organizations have a bigger role to play, but you need to bring private connected with public entities connected with community. So, everybody has a role.”
