CVS reports more than $1.5 billion in savings for the ExtraCare program

WOONSOCKET, R.I. CVS announced on Wednesday that its ExtraCare cardholders received a total of more than $1.5 billion in money-saving offers and rewards last year by using their loyalty card each time they shopped at a CVS pharmacy location or on the retailer’s Web site.

“In today’s economy, people are looking for ways to save money wherever they can. The best advice for saving money without feeling the pain is to make small changes in daily activities—buying store brands instead of name brand products—and taking advantage of rewards programs that can offer savings on everyday purchases,” stated John Barron, director of relationship management at CVS.

With more than 50 million cardholders, CVS’ ExtraCare program is the largest consumer rewards program in the nation, according to the company. Cardholders receive 2 percent of all purchases back quarterly, delivered in the form of free “CVS money” called Extra Bucks. In addition, members receive benefits such as instant targeted offers on register receipts. More than 10 million ExtraCare members have enrolled in CVS’ email alerts program, which delivers additional coupons and health and beauty information directly to shoppers’ email inboxes.

According to CVS, the following cities represent communities where shoppers saved the highest amount of money through the ExtraCare program during the last six months of 2007:

• Boston: Shoppers saved nearly $3.4 million in ExtraCare savings and rewards.
• Los Angeles: Shoppers saved more than $2.7 million in ExtraCare savings and rewards.
• Detroit: Shoppers saved about $2.5 million in ExtraCare savings and rewards.
• Washington, D.C.: Shoppers saved more than $2.3 million in ExtraCare savings and rewards.
• Philadelphia: Shoppers saved more than $2 million in ExtraCare savings and rewards.