Retail News Breaks Archives
CVS: ExtraCare delivers more savings in '09
January 19th, 2010
WOONSOCKET, R.I. – CVS/pharmacy said its ExtraCare loyalty card program delivered more savings to customers in 2009 and expanded its user base.
The drug store chain, operated by CVS Caremark Corp., said Tuesday that ExtraCare cardholders received a total of more than $1.9 billion in savings and rewards during 2009. That represents a 5.6% increase over the $1.8 billion that the company said customers received in 2008.
CVS customers earned a record $76.26 million in ExtraBucks in the last quarter of 2009, according to the company. That's up nearly 10% from the $69.39 million they earned in the prior-year period.
ExtraCare now has more than 62 million active cardholders. CVS/pharmacy said the program saw an increase of 10 million active card users from December 2008 to December 2009. Both the number of men and women who signed up for a card rose, climbing by 8.7% and 7.9%, respectively, since last year.
Seniors led the charge as the fastest-growing demographic of rewards program users, with more than 7.3 million to date and growing, the company reported.
"In 2009, Americans continued to cut costs and look for new ways to help stretch their dollar," Bari Harlam, vice president of marketing for CVS/pharmacy, said in a statement. "Through our ExtraCare loyalty program, we were able to deliver real value to CVS/pharmacy customers consistently throughout the year. In 2010, we're raising the bar even higher for ExtraCare members as we focus on providing additional savings on the products our customers need and value most, like prescriptions and over-the-counter medications."
Los Angeles earned the highest number of ExtraBucks in the last quarter of 2009, totaling more than $6.5 million, CVS/pharmacy said. Rounding out the top five markets in ExtraBucks earned were Boston ($3.7 million), Washington D.C. ($3.6 million), Philadelphia ($2.5 million) and Detroit ($2.5 million).
This week, CVS/pharmacy began running a special promotion called "I Heart My Double Bucks" that offers double ExtraBucks rewards to customers purchasing prescriptions and CVS brand health, household, beauty and personal care products.
By presenting a Double Bucks certificate along with their ExtraCare card in-store or by signing up for the offer online, shoppers can earn twice the amount of ExtraBucks with $2 ExtraBucks for every two prescriptions filled and earn 4% back on all CVS brand purchases, instead of the usual 2%.