CVS adds Extra Bucks to loyalty programme
In the US, retail pharmacy chain CVS has added some new benefits to its ExtraCare loyalty programme, including the introduction of 'Extra Bucks Now' rewards tied to special offers on check-out receipts.
The ExtraCare programme is now in its sixth year and claims membership of more than 50 million cardholders. The new Extra Bucks equate to store credit that members can use to buy almost any non-prescription item at CVS stores.
Earning and burning There are two ways members can earn Extra Bucks: through special Extra Bucks offers, and through their quarterly spending at CVS. The quarterly Extra Bucks are paid out in January, April, July and October each year.
ExtraCare cardholders also earn 2% back on every US$1 spent, and another US$1 back for every two prescriptions filled at the CVS pharmacy. These Extra Bucks can be used for almost anything available at CVS, including cosmetics, over-the-counter medications, food, cameras, and film processing, among others.
Two-day limit removed Having analysed customer feedback about the existing programme, CVS developed Extra Bucks Now to eliminate the standard two-day waiting period for points by paying members Extra Bucks tied to special offers at the time of the qualifying purchase. (Until now, members would receive their Extra Bucks only on their next transaction, and at least two days after the qualifying purchase).
In recent months, CVS has also expanded the 'personal shopping' capabilities of its rewards programme to make product recommendations and offer special coupons tailored to fit each shopper's individual interests through personalised e-mail, direct mail, and cash register receipts. ExtraCare cardholders also receive discount offers based on the products they purchase at CVS.
Interactive loyalty kiosks CVS is now also rolling out interactive coupon kiosks that enable programme members to scan their ExtraCare card at the beginning of each shopping trip, and get a number of discount offers based on products they have previously purchased.
The ExtraCare Coupon Center also provides Extra Bucks rewards, and allows shoppers to independently check prices while they shop. CVS has already introduced the ExtraCare Coupon Center in stores in California, Nevada, and Arizona, and it will be rolled out to additional markets later in 2007. In addition, all new CVS locations throughout the US will feature the kiosk.