Rite Aid is expecting its EnvisionRx acquisition to increase the company’s annual revenues by as much as 17.7%, from $26.5 billion in fiscal 2015 to a projected range of between $30.7 billion and $31.2 billion.
Rite Aid recently deployed an internal social media app called Applause that gives the entire team an easy way to quickly praise their colleagues. “Recognition and celebration is an important part of our culture,” Bob Thompson, EVP of operations at Rite Aid, told DSN.
A big part of the reason behind Rite Aid’s success is that the story has changed. It’s no longer about swimming upstream or playing defense. Today, it’s about creating a retail healthcare company and aggressively turning that dream into reality.
Rite Aid is experimenting with a new interactive kiosk to help consumers navigate a complex category to shop — vitamins and nutritional supplements. According to Rite Aid EVP of merchandising Tony Montini, the initial customer response has been extremely positive.
To help differentiate in the beauty aisle, Rite Aid earlier this year launched an exclusive skin care line called Receutics Active Skin Repair, which ranges in price from $9.99 to $49.99. Each Receutics product is formulated to support the skin’s natural improvement processes, enhancing overall health and appearance.
Rite Aid has its merchandising strategy down to a fine science. Even as the merchant team reporting to Tony Montini, Rite Aid EVP of merchandising, delivers a standardized shopping experience to Rite Aid customers, the company’s merchants are constantly experimenting with new ideas that help differentiate that shopping experience from the store across the street.
How serious are Rite Aid’s leaders when they proclaim their determination to make the company a full-service, full-spectrum retail healthcare provider? Serious enough to buy RediClinic — which has operated walk-in healthcare clinics in roughly 30 H-E-B stores in Texas for much of the past decade — and serious enough to embark on an aggressive growth campaign that includes the clinic healthcare provider as a new Rite Aid subsidiary.