USA- The retail corporation CVS Health has launched Well Market, a store brand offering a wide range of consumer goods and groceries.
The new line will offer more than 40 items via the CVS website and retail outlets.
The product rollout is expected to continue until the end of the year.
CVS Health also announced that the Big Chill product line, Gold Emblem and Gold Emblem Abound, will soon be under the Well Market umbrella.
The company expressed optimism over Well Market, asserting that it is designed to accommodate the market’s diverse preferences.
Musab Balbale, CVS Health’s chief merchandising officer, said, “Through this repositioning and expansion of our food and beverage portfolio, we are doing more by providing new nutritious options our customers crave.”
“From the easy-to-understand packaging to the delicious snacks themselves, our customers can feel great about consuming Well Market products as part of their individual wellness goals.”
Well Market will provide a combination of nutrition options and in-trend flavors expected to cater to the needs and preferences of the FMCG and grocery market.
The store brand is expected to prioritize consumer preferences through its product offering.
Mike Wier, store brands VP at CVS Health, said, “Well Market offers exciting new options for consumers to explore their taste preferences and nutritional needs. Crave-worthy snacks can be part of a balanced lifestyle, and that’s what we help our customers achieve at CVS Pharmacy.”
The new store brand will feature flavor-infused sprouted almond snacks, the first in the market.
It will also feature food products without artificial sweeteners and preservatives, suitable for people with diverse dietary needs or those with specific wellness goals.
Most items in Well Market will retail at between US$2.99 and US$8.99.
The new store brand opens when the company faces serious challenges in its pharmacy wing. CVS Health missed its 2023 profit projections amid higher medical costs in the insurance sector.
The company reported a US$1.12 billion net income in 2023 compared to US$2.14 billion in the previous year.
The new store brand is part of CVS Health’s diversification strategy in the retail market.
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