GoodRx Savings Increase Pharmacy Visits and Customer Loyalty For Retailers

Rhea-AI Summary

GoodRx (NASDAQ: GDRX) recently published a consumer survey revealing its positive impact on pharmacy retailers. Key findings show that GoodRx enhances medication affordability, with 81% of users able to afford all prescriptions after using the service, compared to only 23% beforehand. Additionally, nearly 80% of users reported buying other items while picking up prescriptions, averaging $40 in extra purchases. The survey also indicated that 85% of participants were more likely to return to their pharmacy due to their positive experience with GoodRx, highlighting its role in boosting foot traffic and customer loyalty.

Positive

• 81% of consumers reported affording all prescriptions after using GoodRx, up from 23%.
• Almost 80% of consumers spent an additional $40 or more in pharmacies when picking up prescriptions.
• 85% of users expressed a desire to return to their pharmacies due to their experience with GoodRx.

Negative

• None.

A new consumer survey finds GoodRx discounts boost sales for retailers through new foot traffic

SANTA MONICA, Calif., Aug. 03, 2021 (GLOBE NEWSWIRE) -- GoodRx, Inc. (NASDAQ: GDRX), America’s leading resource for healthcare savings, today shared the results of a recent consumer survey showing the company’s impact on pharmacy retailers. Findings indicate that GoodRx helps pharmacies boost sales by driving in-store foot traffic, improving customer loyalty, and increasing medication affordability and access for their customers.

GoodRx offers discounts at pharmacies across the country, including major chains like Albertsons, CVS, Costco, Kroger, Rite Aid, Walmart and Walgreens, to help consumers save money on the prescriptions they need. For those looking for even greater discounts, GoodRx offers a subscription savings program, GoodRx Gold, which provides savings of up to 90% off the pharmacy retail (or usual and customary) price on prescription drugs at participating pharmacies nationwide.

GoodRx recently surveyed over 4,000 users of GoodRx coupons and GoodRx Gold and found that these users reported the following, which could benefit pharmacy retailers:

• Increase medication affordability and adherence for customers: Prior to using GoodRx, only 23% of consumers surveyed could afford all of their prescriptions, while after using GoodRx, that number skyrocketed to 81% of consumers surveyed being able to afford all of their medication. Medication affordability can help pharmacies reduce “walk away” patients and prescriptions abandoned at the counter due to high cost, and increase medication adherence for their customers.
• Sales through additional foot traffic: Almost 80% of consumers surveyed said they purchased other items such as general merchandise or groceries when picking up a prescription, spending an additional $40 or more on average at the pharmacy counter.
• Encourage pharmacy loyalty among customers: 85% of consumers surveyed agree that their positive experience with GoodRx makes them want to return to their pharmacy. 65% of consumers who use GoodRx reported visiting their pharmacy at least once a month, with 26% making additional trips because of GoodRx.
• Lead to high consumer satisfaction: 95% of consumers surveyed had a good or excellent experience using GoodRx.

“Our mission has always been to provide Americans with access to affordable healthcare and we continue to work with partners across the healthcare ecosystem to drive down medication costs,” said Bansi Nagji, President of Healthcare at GoodRx. “By offering discounts at nearly every major retail pharmacy in the U.S., we ensure their customers can afford their prescriptions and, in turn, help the retailers improve customer loyalty, increase foot traffic and ensure a positive experience at the pharmacy counter.”

To learn more about GoodRx, visit: goodrx.com.

About GoodRx
GoodRx helps Americans get the healthcare they need at a price they can afford. As America’s leading resource for healthcare savings, GoodRx connects consumers with affordable and convenient prescriptions and medical care, including telehealth, mail order prescriptions, doctor visits, and lab tests. We have helped Americans save over $30 billion since 2011 and are one of the most downloaded medical apps over the past decade.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the benefits of GoodRx’s offerings for pharmacy retailers and GoodRx’s impact on the healthcare ecosystem. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, risks relating to risks related to our limited operating history and early stage of growth; our ability to achieve broad market education and change consumer purchasing habits; our ability to continue to attract, acquire and retain consumers in a cost-effective manner; our reliance on our prescription offering and ability to expand our offerings; changes in medication pricing and pricing structures; and the important factors discussed under the caption “Risk Factors” in GoodRx’s Annual Report on Form 10-K for the year ended December 31, 2020, and our other filings with the SEC. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

Contact
GoodRx
Lauren Casparis
press@goodrx.com

FAQ

What does the recent GoodRx survey reveal about pharmacy sales?

The GoodRx survey indicates that it boosts sales for pharmacies through increased foot traffic and customer purchases.

What percentage of GoodRx users can afford their medications after using the service?

After using GoodRx, 81% of consumers reported being able to afford all their medications.

How much do consumers typically spend on additional items at pharmacies when using GoodRx?

Consumers reported spending an average of $40 or more on additional items at pharmacies.

What impact does GoodRx have on customer loyalty to pharmacies?

85% of survey participants stated their positive experience with GoodRx made them more likely to return to their pharmacy.

When was the GoodRx survey published?

The survey results were shared on August 3, 2021.