Rite Aid Partners with Adobe, Digital Business to Benefit
Rite Aid Corporation’s RAD recent partnership with Adobe highlights its intent to enhance customer experience across all channels. Through the deal, Rite Aid will deliver seamless, personalized and connected health and wellness experience to customers with the Adobe Experience Cloud.
Adobe Experience Cloud is an effective experience creation, marketing, advertising, analytics and commerce platform for end-to-end solutions. With this, Rite Aid’s customers across various touch points will have more consistent and compelling experiences. It will simultaneously integrate pharmacy, retail and online experiences for customers.
The partnership is likely to prove crucial for Rite Aid’s digital transformation efforts as well. It will enhance the company’s digital solutions and marketing by providing real-time personalization, deep customer insights, content management and advertising capabilities. Additionally, the company will gain from Adobe’s commerce capabilities which will provide operational support through a specialized team.
Furthermore, Rite Aid’s omni-channel platform will benefit from a more intuitive, personalized and seamless shopping experience both online and off-line, in addition to establishing connection between pharmacists and patients.
With Adobe Experience Cloud, Rite Aid will provide personalized experience like medication reminders and promotional offers to millions of customers, while enabling pharmacists to deliver clinical services and value-based care.
Earlier, from the company has been improving market share through remodeling of wellness stores. This has been a key strategy to adapt to the evolving retail space. Further, this Zacks Rank #2 (Buy) company has shifted e-commerce fulfillment from a third-party provider to its own distribution network to boost customer experience. This has reduced fulfillment lead time, lowered costs and helped increase online offerings by 25%.
Further, the company’s own brand program is supporting efforts to build offerings suited for each local market. It is also enhancing home delivery through the partnership with Instacart. This technology-driven, on-demand delivery service should strengthen the company’s omni-channel capabilities, and provide convenience and value to customers. The company is also upbeat about its collaboration with Amazon AMZN to bring Amazon Lockers in roughly 900 Rite Aid stores. This will help provide customers with the choice of pick-up or return of Amazon packages.
Shares of Rite Aid have declined 51% in the past three months, wider than the industry’s decline of 11%. This decline is mostly attributed to the company’s soft top and bottom line performance in recent quarters. Further, a soft guidance for fiscal 2020 raise concerns.
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