Retail News Breaks Archives
CVS doubles up ExtraCare rewards
September 17th, 2012
WOONSOCKET, R.I. – CVS/pharmacy is enabling shoppers enrolled in its loyalty program to earn bigger rewards on most purchases during the peak fall and winter shopping season.
The drug chain said Monday that under a promotion running through Dec. 15, ExtraCare members can double their quarterly ExtraBucks Rewards simply by choosing to participate.
Shoppers sign up online at CVS.com/doublebucks or in store by printing a sign-up slip at the ExtraCare Coupon Center. Once enrolled, they earn 4% back — instead of 2% — of nearly all dollars spent on everyday purchases at CVS/pharmacy until Dec. 15.
Double quarterly ExtraBucks Rewards will be paid out starting on Jan. 1. Customers can use ExtraBucks like money for purchases on on most items in the store.
CVS said that this year, ExtraCare members have received more than $1.6 billion in savings and rewards.
"With 15 years of leadership and innovation under our belt, we have learned what works when it comes to delivering personalized value to our customers," Rob Price, senior vice president and chief marketing officer for CVS/pharmacy, said in a statement. "Our ExtraCare members love earning and cashing in ExtraBucks Rewards. They think of it as 'free CVS money', so we are excited to give them the opportunity to earn double the rewards this fall."
The Double Quarterly ExtraBucks Rewards promotion comes as CVS' main rivals step up their own customer loyalty program initiatives.
Walgreen Co. on Sunday officially launched its long-awaited loyalty program, Balance Rewards. The chain enabled shoppers to enroll online starting Sept. 6 and through Saturday more than 1 million had signed up. Walgreens said Balance Rewards has the potential to be the nation's largest consumer loyalty plan, offering customers ways to save, earn points and get rewarded for purchases, services and healthy behaviors. The program made its debut as Walgreens rejoined the Express Scripts pharmacy network as of Sept. 15 following a renewed agreement with the pharmacy benefit manager. The chain had lost some pharmacy patients to CVS and Rite Aid during a contract impasse with the PBM.
Rite Aid Corp. rolled out its wellness+ program chainwide in April 2010 and has signed up more than 52 million members. The chain has billed wellness+ as the drug store industry's first customer loyalty program to provide health and wellness benefits along with the shopping discounts and special prices. Rite Aid also has added such features as Load2Card, a coupon management tool that allows members to save, manage and redeem Rite Aid and manufacturer coupons available online via their wellness+ card.
Still, CVS is a pioneer of the customer loyalty field, and ExtraCare is the nation's biggest retail rewards program, with about 70 million active cardholders. The chain also has continued to introduce such innovations as the in-store ExtraCare Coupon Center, opt-in programs such as ExtraCare Beauty Club and ExtraCare Advantage for Diabetes, and the "Send to Card" digital savings option.