meaning of - rite - at the companies names

Question

There is bunch of companies that use rite at theirs names, like Rite Aid or Shop Rite, I was thinking about it like

Right => Rite

They looks like similar to pronounce, and you could think Right Aid or Right Shop

but later on I found really meaning for rite that obviously makes the sense.

So I wonder what's the right meaning:) that usually native speakers keep in mind when they think about Rite Company?

Answer 1

When native speakers see "Rite Company," said Company would like the patron to think "Right," as in "correct" or "accurate," or maybe even "righteous."

There are no solemn ceremonies at Rite Aid or Shop Rite that would pass for a rite.

Dictionary.com defines rite as:

a formal or ceremonial act or procedure prescribed or customary in religious or other solemn use: rites of baptism; sacrificial rites.

(Although signing the disclosures for your prescription may be a formal act or procedure, there is no religious component.)