CVS Pharmacy Revamps ExtraCare Loyalty Program - pymnts.com

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CVS Pharmacy has updated its ExtraCare rewards loyalty program to now offer 2 percent back in ExtraBucks rewards shortly following each transaction instead of having them paid out on a quarterly basis, according to a Tuesday (June 15) announcement.

“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," Michele Driscoll, VP of customer engagement, loyalty and personalization, CVS Health, said in the announcement. "They appreciate the value their membership provides, and they told us they want more flexibility in how they access and use their rewards."

The ExtraBucks rewards that ExtraCare members accrue on most purchases will appear in the CVS app, on the CVS website and on electronic and hardcopy receipts shortly after a purchase starting in July. “These are the first changes to the program's core 2 percent back benefit in its 20-year history,” the release stated.

Moreover, the program is providing its 74 million members with a new birthday benefit, according to the announcement. ExtraCare members will be able to use $3 in “celebratory ExtraBucks Rewards” during the month of their birthdays.

The news comes as CVS Health President and CEO Karen Lynch said that the company “delivered strong first-quarter results and improved our outlook for the year.”

"We continue to execute on our strategy while simultaneously managing through a pandemic, helping the country on the road to recovery. Our unmatched assets and strength of our brand are driving results as we work toward improving care delivery and driving growth,” Lynch said, as previously reported.

CVS Pharmacy has almost 10,000 locations. More than 1,700 of those pharmacies are located within Target and Schnucks grocery stores, according to the ExtraCare announcement.

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CVS Pharmacy Revamps ExtraCare Loyalty Program - pymnts.com
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