Supplier Partners Invited to Be “Partners in Innovation”
Rite Aid’s Chief Operating Officer Ken Martindale may have stated it best when he said, “Innovation isn’t born from the ideas of a few, but the contributions of everyone.” That statement summed up the theme and overriding message of this year’s annual Supplier Conference: “Partners in Innovation.” It was a message that encouraged Rite Aid’s supplier partners to actively participate in collaborative partnerships to find fresh, new ways of doing business.
“Together, we can move our business forward even faster, and we encourage everyone to join us on this journey,” said Martindale.
According to President and CEO John Standley, Rite Aid’s business is solidly moving forward. In the opening presentation of the October conference, Standley told the audience of supplier partners that Rite Aid has had three consecutive quarters of same store sales and adjusted EBITDA growth and successfully launched and continues to grow the wellness+ customer loyalty program. Adding to the list of accomplishments, Standley said Rite Aid is investing in best performing stores, improving lower volume stores, operating more efficiently and enhancing the customer experience.
All of these achievements would not have been possible without the strong support of Rite Aid’s supplier partners, according to Rite Aid’s leadership team.
“Together we’ve reached some pretty major milestones – and we’ve done so in the face of tremendous economic, consumer and regulatory challenges,” said Senior Vice President of Marketing John Learish. “But tomorrow’s success will demand even higher levels of teamwork, transparency and trust.”
Learish explained that Rite Aid’s wellness+ program is a key cornerstone of Rite Aid’s programs going forward. He outlined exciting enhancements for the wellness+ program in the coming year, including greater levels of customer data, personalized targeted emails, increased promotions and values for members, enhanced wellness benefits, and new technology to improve enrollment and customer data capabilities.
Details about the new Wellness store format also resonated with the audience. Rite Aid is planning to complete a total of 300 Wellness stores by the end of its fiscal year. The Wellness store format is designed to allow customers to actively participate in the wellness process through expanded pharmacy services, personal attention, new products and interactive resources.
“Wellness is a central tenet of the Rite Aid brand and the Wellness store format is a vital part of our overall brand positioning,” said Martindale.