This article explores the types of marketing risks in the retail trade of medicines in Latvia. Primarily those risks are influenced by marketing factors such as a decrease in consumer purchasing power, loss of market share, intensified competition, and the adoption of insufficiently justified marketing management decisions. Companies offer similar or even identical assortments and compete based on price, physical location, quality of pharmaceutical care or, in an e-environment, speed of delivery. Competitors may have higher visibility, advertising recall index, larger marketing communications budget, more competent pharmacists, lower prices that satisfy consumer expectations, thereby creating a risk for the market position and development of other companies. The aim of the study is to conduct research and analysis of the risks of marketing communication in medicine retail, where intense competition is observed in Latvia. To achieve the goal, the authors have studied available literature and two qualitative and quantitative pharmaceutical retail marketing surveys (Nielsen Consumer LLC. Pharmacy shopper study, Latvia, 2024a; Nielsen Consumer LLC. Shopper trends, Latvia, 2024b) to explore the impact of marketing communication risks, the processes involved in identifying, analyzing, assessing, and mitigating risks through effective management, which remain relevant and require review and development of new approaches to marketing risk management in today’s challenging market environment. The article seeks to answer: This article has three sections. The first section is based on the generalization of theoretical aspects. The second section describes the main findings in the two above mentioned surveys. In the last section, the authors discuss conclusions and re-commendations.