Walmart to offer same-day prescription drug delivery

The big picture: Walmart said today its drug delivery service is already live in six states — Arkansas, Missouri, New York, Nevada, South Carolina and Wisconsin — and will come to another 43 states by the end of January.

• Customers will be able to get new prescriptions and refills delivered in the same way they can get bananas or cereal delivered by a Walmart associate from a Walmart store.

How it works: Walmart+ members will get delivery for free, while nonmembers will pay a fee of $9.95.

• Customers will order prescriptions through the Walmart app and can schedule delivery for specific time windows.
• Insurance plans can be applied in the app.

Zoom in: With nearly 4,600 stores, Walmart said it expects to offer delivery from its pharmacies to more than 86% of U.S. households.

• It comes just two weeks after Amazon announced an expansion of its program, saying it expects 45% of U.S. customers to be in range for same-day delivery by the end of 2025.

Threat level: Both announcements are devastating timing for the nation's leading drugstore chains — CVS, Walgreens and Rite Aid. Though all three already offer prescription delivery, they're also experiencing significant turmoil.

• CVS just abruptly ousted its CEO and is reportedly weighing a breakup.
• Walgreens is closing 1,200 locations.
• Rite Aid just barely survived bankruptcy after closing hundreds of pharmacies.

State of play: Only 31% of U.S. adults had used a drug delivery service as of a 2022 survey, but 71% believe it would be "more convenient and accessible than in-store drug refill."

• "The service provides a significant benefit to Walmart customers and members, particularly families, seniors and those managing chronic conditions who do not have time for multiple trips," the company said in a statement. "For Walmart, reaching these people is no problem."

The bottom line: When the world's largest company by revenue takes a step, the impact is seismic.