CVS embraces store redesign
CVS Health plans to accelerate a store renovation project, devoting more floor space to nutritious food and health products.
CVS Health plans to accelerate a store renovation project, devoting more floor space to nutritious food and health products. Company executives said Wednesday that they would implement the new format at several hundred stores by the end of 2018, with the goal of fostering a better customer experience and to demonstrate its commitment to healthy living. CVS will reorient 100 feet of aisle space per store toward products such as nutritious food bars, natural supplements, and makeup without harmful chemicals. The company will sell fewer seasonal products and other general items that are suffering against online competition. CVS said it had already introduced the redesign at 800 of its 9,700 stores, with the upgraded locations experiencing an average sales increase of 2.5%. "It's a whole reimagined store design," said CVS Pharmacy division President Helena Foulkes. The move comes amid pressure on the community pharmacy chain to increase foot traffic after the pharmacy business lost tens of millions of prescriptions heading into 2017. "They're looking to do this because they want to remain relevant with their customers and be viewed as a local destination for healthy products and items and help fulfill their customers' health needs," said CFRA Research analyst Joe Agnese, who tracks CVS. "It helps them keep up with what everybody else is doing."