CVS Health has updated its ExtraCare Rewards loyalty program to offer up 2% cashback to its members after nearly every transaction. That’s a change from offering the cashback on a quarterly basis.
The update comes at a time when pharmacies and retailers across the healthcare and retail industry are making changes to their loyalty programs in order to bring customers back into stores as the nation emerges from the COVID-19 pandemic.
CVS Health has 74 million members in its free loyalty rewards program. The update also marks the first change to the company’s rewards program in 20 years. In addition, CVS Health upgraded its 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,” Michele Driscoll, vice president of customer engagement, loyalty and personalization, CVS Health, said in a statement. “They appreciate the value their membership provides, and they told us they want more flexibility in how they access and use their rewards.”
CVS further sweetened the pot for its rewards members with $3 in ExtraBucks Rewards during their birthday month. CVS reported double-digit increases in downloads of its app, and coupons being sent from the app to users’ ExtraCare cards have doubled.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."