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Report: Bank promotes fitness with account incentives

BY Alaric DeArment

NEW YORK — Lose weight. Get paid.

That’s among the offerings at South Korea’s Hana Bank, according to published reports. Reuters reported Wednesday that the bank offers the “S-Line” program, whereby customers who burn calories, lose at least 5% of their body weight per year or hold a gym membership get a higher interest rate on their accounts.

The program, whose name refers to the Korean term for an hourglass physique, has existed since 2008.

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Target to open small-format store in Chicago

BY DSN STAFF

MINNEAPOLIS — Another Target store is coming to downtown Chicago, as the retailer disclosed it would open a small-format store under the new CityTarget banner in the Sullivan Center at South State Street and Madison Street.

The company did not offer specifics on the square footage of the store or whether it would be a multilevel unit, but did indicate the store would open at some point in 2012. As for the product assortment, the company said, “CityTarget will offer guests the convenience of one-stop shopping with affordable fresh food, apartment essentials, on-trend fashions and exclusive designer collections.”

Target currently has 10 other stores in the Windy City, and the new downtown location will be less than one mile from an existing store located on the south side of downtown at 1154 Clark St. The Clark Street store offers a typical Target product assortment, including fresh food, a pharmacy and a health clinic. The company’s next closest store to downtown is in the McKinley Park Neighborhood at 1940 W. 33rd St., about four miles southwest of downtown.

As for the newest downtown location, it is part of a growth strategy disclosed by Target last year in which the reatiler indicated that one of its initiatives would involve opening more stores in urban locations. At that time, Seattle was disclosed as a market that would see an urban store in 2011.

The Chicago store will be located in a commercial property now known as Sullivan Center following a redevelopment project; the property also is widely known as the Carson Pirie Scott building after the defunct department store chain that once occupied it. The building was called one of the city’s more architecturally significant buildings by Mayor Richard Daley, who said Target would be an important addition to State Street.

“I applaud Target for bringing this urban store concept to Chicago, as well as the new jobs and economic opportunity this store will create,” Daley said.

John Griffith, Target EVP property development, said the company looks forward to preserving a Chicago treasure and blending in with the building’s aesthetic. “A hallmark of Target is our flexibility in store design, which allows us to bring high-quality products at great values to our urban guests,” Griffith said.

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CVS/pharmacy weighs in with lifestyle program for ExtraCare members

BY Allison Cerra

WOONSOCKET, R.I. — In an effort to encourage healthy lifestyles among consumers, CVS/pharmacy and Weight Watchers have developed a mutually beneficial rewards program.

Members of CVS’ ExtraCare loyalty program will be given the opportunity to save money on CVS/pharmacy purchases when they join Weight Watchers meetings. Conversely, Weight Watchers members will receive CVS/pharmacy ExtraBucks offers on such health-related items as blood-pressure monitors, blood-glucose testing equipment, healthy snacks and more.

"CVS/pharmacy is committed to helping improve the health and lives of our customers, and we’re excited to offer discounts for ExtraCare cardholders for a proven weight-loss program like Weight Watchers," said Rob Price, SVP and chief marketing officer at CVS/pharmacy. "We hope these rewards will help people take the first steps toward better health and further the progress for those who have already begun weight-loss efforts."

According to the National Institutes of Health, two-thirds of adults in America are overweight or obese, a condition that can lead to other chronic diseases, including Type 2 diabetes, hypertension and heart disease.

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