CVS’ innovations far from ‘Just the Basics’ with Bloom at helm
WOONSOCKET, R.I. — Looking for a merchant known for the ability to swiftly understand the big picture and move into action? Look no further than Mike Bloom of CVS/pharmacy.
This visionary merchant, who joined CVS as part of the People’s Drug Store acquisition in 1991 and was appointed SVP merchandising and supply chain in September 2009, is credited with giving rise to a number of concepts, including the “Life” store prototype initiative, which became the model for many other chain store makeovers. In more recent years, Bloom has had a significant hand in such innovations as the upscale Beauty360 format, as well as the Urban Cluster concept and a new private-label program.
In 2010, CVS took the wraps off its Urban Cluster store concept, which has a significant focus on consumables and is designed to be a convenient shopping destination for urban dwellers. Meanwhile, to take a leadership role in private label, the retailer has a brand new private-label program, Just The Basics, which represents a functional, value-priced, smart-simplicity positioning.