Is a new beauty format on the horizon for CVS/pharmacy?
WHAT IT MEANS AND WHY IT’S IMPORTANT — The news that CVS/pharmacy is closing all of its upscale Beauty360 stores may have raised a few eyebrows — or perhaps not — but now it will be interesting to see the changes that occur in store and online in beauty.
(THE NEWS: CVS/pharmacy to close all Beauty360 locations. For the full story, click here)
With Walgreens exporting Duane Reade’s upscale Look Boutique from New York to Walgreens locations throughout the country, is it possible that we are not far off from a new beauty format for CVS? Perhaps a special beauty-forward format driven by its store segmentation initiatives?
CVS/pharmacy has, in fact, hinted that future iterations could bring more category-focused versions like the Urban Cluster stores that put a greater emphasis on food. During its Analyst Day in December 2011, Mark Cosby, president of CVS/pharmacy, told analysts that it plans to test “several volume-based clusters, including a program for our top pharmacy stores and a program for our top beauty stores.”
Furthermore, CVS/pharmacy hasn’t been bashful about its desire to capture a greater share of the shoppers’ wallet — especially within beauty. The company has indicated that its top customers spend 27% of their wallet on beauty with CVS and 73% of their wallet elsewhere. This upside represents a $1.5 billion opportunity in beauty alone!
And what about the services the retailer had been offering in the Beauty360 stores? Could some element — or all of it, the mini-manis, etc. — end up in store? Maybe not in all 7,300-plus CVS/pharmacy stores, but perhaps in those beauty-forward locations where shoppers already over-index in beauty purchasing? … Hard to tell for sure at this point, but it sure makes you think.
Bicycle introduces Wounded Warrior Project playing card deck
ERLANGER, Ky. — Bicycle playing cards is launching a new playing card deck designed to support an organization whose mission is to honor and empower wounded warriors.
The Wounded Warrior Project playing card deck will support the Wounded Warrior Project, which seeks to raise awareness and enlist the public’s aid for the need of injured service members; to help injured servicemen and women aid; and assist each other and to provide unique, direct programs and service to fit their needs. The company said 15 cents per deck will be donated to help support wounded soldiers and their caregivers.
"The United States Playing Card Co. is very honored and proud to be a partner of Wounded Warrior Project and assist in their efforts to provide for our nation’s wounded soldiers," said Roy Gifford, VP marketing for the United States Playing Card Co., which owns the Bicycle brand. "As a company we are dedicated to supporting organizations that give back to communities and special causes."
NRF names VP communications
WASHINGTON — The National Retail Federation has appointed a new VP communications.
Effective Apr. 9, Katie Wilson will be responsible for overseeing NRF’s industry efforts, a multitude of communication vehicles and advancing NRF advocacy priorities on issues important to the retail community, NRF said. She will assume many of the responsibilities of Ellen Davis, who was recently named NRF SVP and executive director of the NRF Foundation.
"Katie’s excitement about retail coupled with her public affairs background makes her an ideal candidate for our growing team," NRF president and CEO Matthew Shay said. "As NRF continues to expand its focus on advocacy and communications, bringing in top-notch talent with diverse experiences will help us elevate retail issues to another level in Washington."