The CVS and Walgreens are two of the biggest pharmacy chains in the U.S. The country boasts over 88,000 pharmacies, but CVS and Walgreens happen to be among the most popular and highly sought after.
Additionally, they both offer almost the same services. Both CVS and Walgreen specialize in filling prescriptions, wellness, and health products. They also provide photography services and health information.
Statistics also show that both pharmacy chains are growing fast. Walgreen boasts over 9,277 outlets in the United States. And CVS has climbed up to 9,962 stores in the last decade.
Considering their similarities, it’s not out of place to wonder if the same company owns them.
Now, back to the mind-boggling question!
Are CVS and Walgreens Owned By the Same Company?
The same company does not own CVS and Walgreens. The American company CVS Health owns CVS pharmacy, and its original name is the Consumer Value Store.
Walgreens, on the other hand, is owned by Walgreens Boots Alliance. Walgreens Boots Alliance is a global company that comprises the boot chain in the U.K.
Melville Corporation owned CVS. However, it was taken over by CVS Health in 1996. CVS founders include; Stanley Goldstein, Sidney Goldstein, Ralph Hoagland, and Dipak Dave.
However, Walgreen was founded by Charles Rudolph Walgreen in 1901. And in 2015, they acquired part of Rite Aid.
Usually, both stores are found next to the other. And, it is often the reason why the pharmacies are thought of as being owned by the same company.
Continue reading and you’ll see more in this comparison.
Why Are CVS And Walgreens Always At The Same Location
It is common to see chains of similar businesses operate in the same location. For example, you’re likely to see a McDonalds’ close to a Burger King restaurant. Similarly, you will see CVS and Walgreen next to each other or across the street. It’s so in almost every city both companies are, in the U.S.
Both companies perform the same services and go after the same market. It, therefore, means a lot that they’re close to each other. But according to studies, sales volume goes up when chains stay adjacent to each other.
It has great advantages for customers as well. For instance, let’s say a customer isn’t satisfied with what CVS has. If there’s a Walgreen store close by, they may want to check out what they have.
But if a Walgreens store is far away, the customer may want to settle for what CVS has. So, it helps customers to make their preferred choice. And then helps the competitors take any extra business.
CVS And Walgreens – Which Is Bigger
Both U.S.-based companies are quite bi. However, there are areas where one surpasses the other.
For instance, in terms of total revenue and market capitalization, CVS is larger than Walgreen. CVS has a market capitalization that is over $98 billion. Walgreen’s market capitalization is about $49 billion.
Again, CVS is also higher than Walgreens in terms of revenue. CVS is more of a diversified healthcare company. They’re involved in pharmacy benefit management and insurance.
Walgreens, however, is focused on its key business as a pharmacy operator. So, Walgreen is a larger pharmacy chain operator than CVS. But CVS isn’t far behind; it has an approximately four percentage point difference in market share.
What Is Similar About CVS And Walgreens’ Services?
Although both companies differ in terms of their ownership, some of their services are similar. And you can benefit from both companies’ services. Let’s look at some of them, shall we;
The reward for Everyday Purchase:
This is one similarity you’d love. You can get rewards for your everyday purchase on both CVS and Walgreens.
At CVS, you earn 2% of your purchase back in ExtraBucks. However, you are required to splash at least $50.00 a quarter. Walgreens, on the other hand, offers you 1% for every $100 you spend.
CVS and Walgreens Pay Ten Percent Back On Beauty:
CVS’s ExtraCare Beauty Club and Walgreens’ Beauty Enthusiast Program are quite similar. They both offer ten percent on a beauty product.
However, CVS gives $3 ExtraBucks for every $30 spent on beauty. Walgreens requires you to spend $50 to receive a $5 reward.
Walgreens and CVS allow You to Return a Purchase:
Just in case you find a fault in any of your purchases, you can return the product.
CVS gives customers 60 days to return a purchase. At Walgreens, you have a 30 days limit to return your purchase.
To return a purchase, you’ll need a receipt for both companies. Again, both stores do not allow returns of contact lenses, prescriptions, and gift cards. Interestingly, at CVS and Walgreens, you can get a 100% satisfaction guarantee on their own branded merchandise.
Your 100% satisfaction is guaranteed even though the product has been opened within their return period.
Free shipping for orders higher than $35:
Walgreens and CVS offer free shipping on orders higher than $35. However, they both have standard shipping costs. At Walgreens, the standard shipping cost is $5.99. And CVS’s shipping cost is $5.49.
Same Photo Price at Both Stores:
When it comes to photo centers, their prices are the same. For a standard 4×6 photo, you’ll get it at the cost of $0.33 at both stores. However, CVS has more good reviews on the quality of their prints.
But, just in case your photo doesn’t come outright, you can ask for a refund. And both companies offer a 100% satisfaction guarantee.
What’s The Difference Between CVS And Walgreens Services
Let’s also look at some of the differences between both companies;
Extrabucks Rolling Is Offered In CVS but Not At Walgreens:
At CVS, you get the chance to roll over your reward. For instance, If you earn ExtraBucks for buying shampoo, your registration is printed after the transaction.
Afterward, you can use those ExtraBucks to pay for more shampoos, and another ExtraBucks coupon will print, and so on. It is called rolling.
At Walgreens, however, your Registered Rewards don’t roll. For instance, let’s say you buy one Vitamin Water to get a Register Reward.
You could use your reward to purchase another Vitamin Water in a second transaction. But that’s as far as you will go. There is no second Register Reward at Walgreen.
Walgreens Has Lower Prices Compared With CVS:
Interestingly, you can get some products at a cheaper rate at Walgreens. However, the price difference is quite small.
For instance, Advil Liqui-Gels goes for $0.10 per piece at Walgreens. But at CVS, it is $0.12 per piece.
Another significant difference is seen in their toilet paper. At CVS, Scott toilet paper is $5.79 for a thousand sheets per roll. At Walgreens, however, it goes for $4.49.
CVS’ ExtraCare Pharmacy and Health Rewards:
For every time you; fill a prescription, sign up for emails and texts, get a vaccine or flu shot, and set up an online account, you get one credit offer from CVS.
Additionally, you’ll receive a $5 reward once you attain ten credits.
Walgreens does not have a specific reward club for their pharmacy. But, they have a program known as Balance Rewards for Healthy Choices.
With this program, you can get points toward your next reward by tracking your health. Here are the different ways to earn:
Contact Lenses And Prescription Gives You Free Shipping At Walgreens:
This is another amazing offer from Walgreen you won’t want to miss.
Amazingly, Walgreens offers you free shipping when a prescription or contact lenses are added to your online order.
Walgreens also offers free shipping to stores. Although CVS has a store pickup option, it is only available for in-stock items.
How To Sign Up For Same-Day Prescription Delivery At Walgreen
Interestingly, Walgreen offers amazing tools to manage your descriptions. And it is accessible to you right on your mobile device. One tool you want to take advantage of is same-day prescriptions delivery.
If you’re still struggling with this, the process is quite easy. Firstly, text ‘Join R.X.’ to 21525. It automatically signs you up for a Walgreens description alert on your phone.
After that, you can place your order. And once it’s ready, you’ll receive a text alert. If you prefer it sent out for same-day delivery, select your option on the ‘choose a delivery method.’ After that, submit your payment, and you’ll receive your order in no time.
Can I Use My CVS Caremark Card At Walgreens
Yes, you can. You can use your CVS care card at Walgreens. Interestingly, it is also possible to use it at any other pharmacy that operates under the CVS National Network.
On June 18, 2010, CVS Caremark reached an agreement with Walgreens. The agreement covered Walgreens’ continued participation in CVS National Pharmacy Network.
So, Plan members have unlimited access to use their CVS Caremark Card at Walgreens. Also, they can use it at other pharmacies operating under the CVS National Pharmacy Network.
CVS Network Pharmacy accommodates over 64,000 retail pharmacies. Also, it includes several chains and independent pharmacies.
Furthermore, you will need to fill your prescription at any network pharmacy. It ensures your regular coinsurance or co-payment doesn’t change.
The same company doesn’t own CVS and Walgreens. CVS Pharmacy is owned by the American company CVS Health. But up until 1996, it was owned by Melville Corporation.
On the other hand, Walgreens is owned by Walgreens Boots Alliance. It was founded by Charles Rudolph Walgreen in 1901.
CVS has been recorded to be larger in terms of revenue and market capitalization. However, Walgreen is a larger pharmacy chain operator. Interestingly, both companies have significant benefits offered to customers.