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CVS HEALTH CORPORATION

(CVS)
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CVS Health : Pharmacy announces major update to ExtraCare Rewards program, delivering simpler, faster and recurring rewards

06/15/2021 | 08:20am EDT

Customer feedback and surge in digital engagement result in changes that give members more flexibility in how they earn and spend rewards

CVS App exclusive event with weekly free gift offers for ExtraCare members launches in June

WOONSOCKET, R.I. - CVS Pharmacy, the retail division of CVS Health (NYSE: CVS), today announced its long-standing, popular and free ExtraCare® Rewards loyalty program is paying 2% back in ExtraBucks rewards moments after nearly every transaction, rather than being paid out on a quarterly basis.

Beginning in July, the 2% back in ExtraBucks®Rewards that ExtraCare members love to earn on most purchases will show up in the CVS App, on CVS.com, and on digital and paper receipts, moments after a purchase. The program is also adding a new birthday benefit for its 74 million members. These are the first changes to the program's core 2% back benefit in its 20-year history.

Members can choose to use their rewards on their next visit or watch them add up and spend them later, within 90 days of each respective issuance. This change comes with an upgraded and easy-to-navigate CVS App experience, where members can view, track and send all of their earnings and personalized deals directly to their ExtraCare card.

To celebrate these exciting program changes ExtraCare will offer special freebies exclusively in the CVS App starting in late June and throughout the month of July. ExtraCare members will find a new free gift each week in the app, ranging from better-for-you snacks and treats to health and beauty essentials.

ExtraCare members will also now have access to $3 in celebratory ExtraBucks Rewards during their birthday month that they can use toward the purchase of their own gift from CVS Pharmacy's wide array of health and wellness products, beauty brands, everyday essentials, and better-for-you foods. Birthday rewards are available to ExtraCare members who've opted in by sharing their birthday information, and are delivered via the ExtraCare channels the member has opted into, including email, SMS text message and the CVS App.

'Our customers are at the heart of everything we do. We've evolved our ExtraCare program following an in-depth assessment that revealed what members love most about the program,' said Michele Driscoll, VP Customer Engagement, Loyalty and Personalization, CVS Health. 'They appreciate the value their membership provides, and they told us they want more flexibility in how they access and use their rewards.'

Members are encouraged to download the CVS App for the optimal ExtraCare experience and can also choose to receive coupon reminders and special offers via ExtraCare SMS text messages, including surprise deals tailored to their interests.

Over the past year, the app has seen double-digit increases in downloads, and coupons sent to users' ExtraCare cards from the app have more than doubled. The CVS App makes it easy and fun to shop, plan shopping trips, fill prescriptions and find great deals.

The Rewards Tracker allows customers to easily view progress toward earned rewards from ExtraCare, the opt-in ExtraCare BeautyClub® and ExtraCare Pharmacy & Health Rewards® programs, and from CarePass®, CVS Pharmacy's paid membership program. Enhancements to the ExtraCare BeautyClub program will be announced later this summer.

For more information about ExtraCare Rewards, visit www.cvs.com/extracare. Customers can also sign up for ExtraCare for free online or within the CVS Pharmacy mobile app.

About CVS Pharmacy

CVS Pharmacy, the retail division of CVS Health, is America's leading retail pharmacy with nearly 10,000 locations, including over 1,700 pharmacies inside of Target and Schnucks grocery stores. We are committed to delivering innovative health solutions that create a simpler, more accessible experience for patients, customers, and caregivers. CVS Pharmacy is the only national pharmacy to remove tobacco products from its shelves and has taken a leadership role in responding to the COVID-19 pandemic by making testing and vaccinations available at locations across the United States.For the latest product and service offerings, visit www.cvs.com or download the CVS App.

Media contact

Matt Blanchette
Matthew.blanchette@cvshealth.com
401-524-6185

Disclaimer

CVS Health Corporation published this content on 15 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2021 12:19:02 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 282 B - -
Net income 2021 8 233 M - -
Net Debt 2021 48 413 M - -
P/E ratio 2021 13,3x
Yield 2021 2,43%
Capitalization 108 B 108 B -
EV / Sales 2021 0,56x
EV / Sales 2022 0,52x
Nbr of Employees 256 500
Free-Float 75,6%
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Last Close Price 82,36 $
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Managers and Directors
Karen S. Lynch President, Chief Executive Officer & Director
Shawn M. Guertin Chief Financial Officer & Executive Vice President
David Wyatt Dorman Chairman
Troyen A. Brennan Chief Medical Officer & Executive Vice President
Jonathan C. Roberts Chief Operating Officer & Executive Vice President