CVS Is Dropping Prices On Tampons to Help Women With the 'Pink Tax' The retail store chain announced this week that it would be marking down prices on various feminine products.
Opinions expressed by Entrepreneur contributors are their own.
Women have been burdened by the "pink tax," (pricing that is gender-specific; resulting in a higher cost for women) for decades. In fact, a 2015 study by the New York City Department of Consumer Affairs found that products marketed toward women cost around 7% more than those marketed toward men.
Now, one retail store is taking a stand to bridge the gap.
CVS announced on Thursday that it would be dropping prices by 25% on store-brand menstrual pads, tampons, cups, and liners.
Dr. Padmini Murthy, the global health lead for the American Medical Women's Association, told CNN that the move will highlight the company's commitment to addressing women's health and pave the way for reducing menstrual inequity, "and not just to promote the use of CVS products."
Dropping prices on female necessities isn't all CVS is doing to minimize the "pink tax."
Related: This Company Is Offering Discounts to Fight Sexist Product Pricing
Last week, the chain began paying sales tax for customers on menstrual products in 12 states — Arkansas, Georgia, Hawaii, Louisiana, Missouri, South Carolina, Tennessee, Texas, Utah, Virginia, Wisconsin and West Virginia.
Today is #PeriodActionDay. See all the ways CVS is supporting period health. https://t.co/XdM2E5oQDz#HealthierHappensTogether #HereforHer @periodmovement pic.twitter.com/mlRxe0Uoku
— CVS Pharmacy (@cvspharmacy) October 8, 2022
The initiative is monumental — women have advocated for the elimination of sales tax on period products for decades. The Alliance for Period Supplies, an advocacy group working to provide period supplies for more women in need, found that one in four women struggled to buy menstrual supplies in the past year due to lack of income.
The move by CVS could be the first step in setting a precedent for other retailers across the country to expand access to basic female necessities.
Related: Watch Burger King Cleverly Call Out the 'Pink Tax' in New Ad
