New York City's drugstore landscape has seen a significant shrinkage over the past decade, with about 40% fewer stores compared to ten years ago. This year alone saw a 10% drop, attributed largely to rising shoplifting and crime rates. Major pharmacy chains like Walgreens, CVS, and Rite Aid have been hit hard. Walgreens, for example, closed 22 of its New York City stores in 2024, leaving them with just 189 locations. The shuttered stores include notable spots like the massive Duane Reade at 4 Times Square.

Experts point out that increased security measures, such as locking products behind plexiglass and reducing staff, have turned off many customers. Shoplifting and organized retail crime play a substantial role in these closures. Moreover, the shift towards online shopping for essentials has exacerbated the problem. Critics argue that these measures, while intended to deter theft, have inadvertently driven away customers due to inconvenience.

The closures have left behind vacant spaces that attract graffiti and homeless activity, creating eyesores in the city’s retail landscape. These empty stores also represent a significant chunk of the city’s overall vacancy rate. As of now, New York has about one million square feet of empty drugstore space. The situation highlights an unusual challenge for the Big Apple, which once had drugstores on almost every block.

Companies like CVS have announced plans to shut down hundreds of stores nationwide, citing a range of factors beyond just crime. They mention shifting population demographics, changes in buying habits, and pharmacy density as significant contributors. The drugstore industry is grappling with both external pressures like crime and internal factors like profitability and customer experience.

The Retreat of NYC Drugstores: Crime, Shifting Habits, and Empty Spaces

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