CVS: A More Expensive Place to Shop
Despite its claimed focus on value, CVS charges high prices compared to other large drug chains. Surveyors recently ranked CVS as the most expensive national drug chain in four of five markets surveyed.
Researchers in five markets visited 53 CVS stores and 269 competitor stores in close proximity – including other pharmacy, grocery and discount chains -- to gather price information on a basket of 21 items. The basket items range from food and household goods like Tropicana orange juice, Pampers diapers and Tide laundry detergent to over-the-counter medications and health and beauty items like Pepto-Bismol, Maybelline mascara and Gillette razor blades. This pricing survey was conducted in October 2008 in Greater Boston, Greater Detroit, New York City Metro Area, Greater Los Angeles and the Philadelphia area.
CVS More Expensive Than Competitors
The survey results showed that in Greater Boston, Greater Detroit, the Philadelphia Area and the New York City Metro Area, CVS charges more for a common basket of goods compared to the Walgreens and Rite Aids surveyed. CVS is more expensive than Rite Aid in every market. In Greater Los Angeles, Walgreens is slightly more expensive than CVS. The basket price differential was up to five percent -- or over $7 – which can quickly add up for families on a budget.
Further, in three markets – Greater Boston, Greater Detroit and the Philadelphia Area – CVS charges more than every single drug, grocery and discount chain surveyed. And these price differences are stark, with CVS charging between 10 percent and 13 percent more than the average for a common basket of goods across all the surveyed chains.
CVS circular at Washington, D.C. store
