Rite Aid Launches Its Own Exclusive Men’s M5 Magnum Razor As Consumers Shift to Private Brand Products
Razor Offers Premium Quality Shave Competitive With National Brands At Much Lower Price
Camp Hill, PA .- As consumers shift to lower-cost private brand products, Rite Aid today announced the launch of its M5 MagnumTM five-blade shaving system, which will be available exclusively at more than 4,900 neighborhood Rite Aid stores nationwide beginning March 29.
The M5 Magnum Razor, which provides a comparable shave to the leading brands but costs about 30 percent less, is being introduced at a time when consumers are spending less and choosing private brands as a way to make their shrinking budgets stretch even further.
Offering comfort and performance at a superior value, Rite Aid’s M5 Magnum razor has a retail price of just $6.99, or $3 less than the comparable national brand. By continuing to purchase the M5 Magnum’s lower-cost replacement blades ($7.99) along with other Rite Aid Brand personal care products, users can experience significant savings.
In its March 29 weekly circular available in stores and at www.riteaid.com, Rite Aid invites customers to try the M5 Magnum for a special price of only $4.99, with a no-risk “free bate.” Customers who purchase the M5 Magnum between Sunday, March 29, and Saturday, April 4, can apply for a full refund of the purchase price through Rite Aid’s Single Check Rebate program.
The M5 Magnum has five titanium-coated blades and a trimmer on the back of the cartridge for a more accurate cut on sideburns, goatees and under the nose. The razor also features a larger soap bar, a longer-lasting lube strip with botanical oils, and a 90-degree trimming angle for premium performance. Comfort and ease of use are further enhanced by the M5 Magnum’s ergonomic handle design with soft-grip raised ribs, which was preferred by consumers in side-by-side testing against leading name brands.
According to Information Resources’ Competing in a Transforming Economy series, grocery and drug retailers are experiencing the biggest jump in private brand share over the past year.
Research from Information Resources shows that private brand products accounted for 17.1 percent of dollars spent in all package goods categories last year, up 0.7 points last year. That number is expected to increase at a significantly accelerated rate in each quarter of 2009 and beyond.
“The launch of the M5 Magnum underscores Rite Aid’s commitment to providing our customers with high-quality products at up to 40 percent less than name-brand equivalents,” said Bryan Shirtliff, Rite Aid Senior Vice President, Category Management. “Now more than ever, consumers are evaluating their spending and realizing they can experience the same premium performance with more cost-efficient private brand products. With the M5 Magnum, we’re offering a value-based solution at a time when consumers need it most.”
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