CVS’ Rob Price talks to Yahoo! Finance about myWeekly Ad
WOONSOCKET, R.I. — With the excitement of the launch of CVS/pharmacy’s new myWeekly Ad still in the air, SVP and chief marketing officer Rob Price was recently featured on Yahoo! Finance’s Big Data Download to discuss the importance of the digital circular.
Powered by the robust data derived from CVS/pharmacy’s ExtraCare loyalty program, the myWeeklyAd, which enables the retailer to deliver personalized weekly promotions to loyalty members, is a clear demonstration of the company’s increased focus on personalization, as discussed in the Oct. 14 issue of Drug Store News story "CVS/pharmacy’s path to personalization."
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Target introduces shopping resources for holiday season
MINNEAPOLIS — A new store pickup program and price matching are among the ways Target is looking to attract customers during the holiday shopping season, the mass merchandise retailer said Thursday.
Target is introducing the new pickup program, which began rolling out in select stores this month and will be available nationwide by Nov. 1. The program allows customers to buy items online or through their mobile devices and then pick them up the same day at a Target store where the item is in stock.
Meanwhile, under the price-matching policy, customers who buy an item at Target between Nov. 1 and Dec. 21 and then find it for cheaper on Target’s website, a local competitor’s printed ad or at select online retailers can have the price matched by Target.
The retailer also is highlighting "Best.Party.Ever," for which it is partnering with event planner David Stark to offer a party-planning resource on Pinterest, as well as the Cartwheel online savings app, which it launched in May. Cartwheel allows useres to choose from hundreds of offers, including holiday gifts like toys, electronics, entertainment and personalize their savings.
Marketing this old idea of course is the key. A good many large box along with Mom & Pops have done this for many years. It should work very well with the correct approach. Nice move...
Credit Suisse pegs Safeway takeover value at $45 per share or more
NEW YORK — Safeway could fetch an asking price of more than $45 per share, estimated Credit Suisse in a research note issued Thursday.
Shares of Safeway were up slightly by 15 cents to $35.73 in early morning trading.
Responding to a Reuters report on private equity firm Cerberus’ interest in the supermarket chain, Credit Suisse research analyst Ed Kelly suggested that a Cerberus-Safeway deal would be compelling for the following reasons:
- Significant strengthening of local market share. The combined company would be the No. 1 or No. 2 player in 80% of its top 25 markets;
- Significant synergies totaling as much as $1 billion;
- A more rational competitive environment;
- Minimal risk of forced divestitures following the requisite review by the Federal Trade Commission; and
- A built-in exit strategy — the combined entities would be the No. 2 supermarket in the industry, making for an attractive public offering down the road.
Cerberus currently owns 1,069 supermarkets through the combination of the Albertson’s acquisition in 2006 and the Supervalu deal in January 2013. The combined entity would generate $58.6 billion in trailing twelve month sales, according to Credit Suisse estimates. Kroger would be No. 1 with $96.8 billion in sales, and Ahold No. 3 with $26.2 billion.
"The combination would transform the combined company into a top 2 player in many markets, allow for better leverage of local infrastructure/marketing, improve vendor purchasing and meaningfully reduce corporate costs," Kelly wrote. "History suggests synergies on a transaction of this type could easily amount to 2.5% to 3% of acquired sales."
No matter the outcome of this reported interest, the supermarket industry is ripe for consolidation, Kelly noted. "Both strong, well-positioned players and the weaker companies appear more willing to address the issue of local market scale through acquisitions and divestitures," he said. "This trend should be fueled by the growing strength of industry winners like Kroger, more forward-thinking by underperformers like Safeway and private equity involvement."
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