CVS Health is putting its Private Brands front and center to underscore its commitment to addressing customer health needs.
That point was outlined in a presentation by two of the retailer’s executives at the Velocity Global conference.
“CVS is now largest healthcare company in America, and has a strong focus on being the most customer-centric,” said Brenda Lord, Vice President, Store Brands & Quality Assurance.
Lord joined her colleague Heather Corkery, Director, Store Brands, in an interview on the Velocity Global Main Stage led by Christopher Durham, founder of Velocity and President of My Private Brand.
CVS Health, which acquired Aetna in 2018, has further evolved as a premier health innovation company. The CVS Health brand is the centerpiece of its Private Brand health efforts, and has grown to become the dominant brand in its space.
“It’s the largest brand — not just largest Private Brand — amongst our CPG competitors in the healthcare quadrant,” said Corkery.
The brand is comprised of more than 3,500 active SKUs, and represents over 60% of the complete portfolio. But only half of the items represent traditional drug store compare-to products.
The executives pointed to other Private Brand strategies that underscore the health mission. The relaunch in May of the Live Better brand focuses on transparency and sustainability in ingredients and packaging. It includes more than 80 products in nine categories in the health and wellness space, ranging from vitamins to oral care.
“We gained insights into what customers wanted as they take more active control over their health,” Corkery said.
The executives also addressed developments in the company’s other Private Brands, from food to beauty. CVS Health was a Vertex Award winner at Velocity Global. Matt Thorsen, Director, Store Brands Packaging, and Bryan Killiany, Creative Director – Store Brands Portfolio each led roundtable discussions focusing on brand building, design, and packaging.
From packaging to innovation, the company has been using Private Brand to help further engage its shoppers, the executives said.
“We work to understand our customers’ healthcare needs, and be trend-right and a fun place to be,” Lord said.
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