The weekly Loyalty Newswire from The Wise Marketer delivers a curated list of the latest news and announcements from around the globe on all topics related to customer loyalty.
- We share news on a spectrum of topics, all with the intention of giving you an “info boost” to start your week.
- The Loyalty Newswire makes it simple for busy professionals (that means YOU) to quickly digest important industry news and to *maybe even* enable you to star in your next big meeting.
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- Major changes coming to Woolworths' rewards program
- Last chance to join Points4Purpose in New York City on June 1
- CSP Parent Company Winsight Sold to Informa
- Customer Loyalty mentions in company filings of retail industry decreased by 44% in Q1 2023
- The CRMC is just around the corner – 7-9 June in Chicago
- Wow Bao Launches Web3 Loyalty Program with NFT-Based Digital Collectibles
- Kraft increases investment in its digital media mix with a focus on millennial parents
- New Webinar - Explore the Psychology of Customer Loyalty – June 21
- Federal Reserve announces July launch for the FedNow Service
- Loyalty Academy™ announces new CLMP™ certification workshop in Bangalore India
- Hot Highlights
Major changes coming to Woolworths' rewards program
One year after the launch of Everyday Rewards Extra, a subscription loyalty program, Woolworths (Australia) announced plans to increase the annual fee of the program while lowering the points earning rate. Changes are effective July 1, 2023 and the brand is under fire from some consumers over the changes. Woolworths is increasing the annual fee from $59 to $70, discontinuing the offer of a 10 percent discount when shopping online, and lowering the number of points accumulated from three to two per shop. Everyday Rewards Extra has roughly 100,000 members while its free program, Everyday Rewards, has about 14 million members.
Last chance to join Points4Purpose in New York City on June 1
Points4Purpose is hosting a reception to celebrate its US Launch on June 1 at 6:30pm. The reception is hosted by the Wise Marketer Group, the Australian Trade Commission and Investment NSW in Manhattan, New York. A panel will discuss how you can join the growing movement from Purpose to Profit and, in so doing, grow customer lifetime value. Register here.
CSP Parent Company Winsight Sold to Informa
Winsight LLC, the parent company of CSP and the National Restaurant Association Show, has been sold to Informa, a London-based global events, digital products and academic services firm. Informa acquired Winsight from HPS Investment Partners, which acquired the company from the National Restaurant Association last year. The combined group will create a global foodservice and retail media, event, and market intelligence powerhouse, serving a global audience of more than 2 million and featuring some of those industries’ premier events and offering unparalleled expertise, journalism, and market intelligence.
Customer Loyalty mentions in company filings of retail industry decreased by 44% in Q1 2023
According to GlobalData’s analysis of over 228 retail company filings, the global retail industry experienced a 44% drop in company filings mentioning “customer loyalty” in Q1 2023 compared with the previous quarter. GlobalData’s Customer Loyalty in Apparel – Thematic Research report identifies the important themes and companies that have made a mark in the apparel sector and explains the geographical dynamics of the market. Note, this is a paid report (no affiliate link).
The CRMC is just around the corner – 7-9 June in Chicago
The annual CRMC event is next week and there is still time to register. The Wise Marketer will be onsite covering all the content and conducting brand interviews. There’s not enough room to list all the brands presenting at this year’s event but a “short list” includes Adidas, Build-a-Bear Workshop, Canadian Tire, GNC, Lifetime, London Drugs, McDonalds, Nascar, NBA, Nike, Pep Boys, Sonesta and Walgreens. More information and registration info can be found here.
Wow Bao Launches Web3 Loyalty Program with NFT-Based Digital Collectibles
Wow Bao, the fast-casual Asian restaurant chain, announced plans to expand its web3 offerings by offering NFT-based collectibles as part of its Bao Bucks program. The new collectibles were created in partnership with NFT artist MANOVERMARS (MoM), who has also created art for brands like Macy’s, Visa, and Specialized. The new digital collectibles are built on the Polygon network, helping Wow Bao customers who may not be familiar with cryptocurrencies engage with a seamless web3 experience.
Kraft increases investment in its digital media mix with a focus on millennial parents
Kraft is boosting its digital media mix and following the shopping habits of millennial parents in an effort to capture their attention where they spend their time. The strategy follows Lactalis Heritage Dairy’s acquisition of the cheese division of the brand in 2021 from Kraft-Heinz. It’s Kraft’s first multimillion-dollar campaign following the acquisition, and the brand’s goal is to establish a strong connection with millennial parents, particularly during the spring and summer months.
New Webinar - Explore the Psychology of Customer Loyalty – June 21
Did you ever stop to think that much of what we consider to be “best practices” in Loyalty Marketing is based on tribal knowledge? Maybe so in the past, but we can now link principles of human behavior theory to these best practices to understand more about “why people buy”. This new webinar, co-created by Comarch and The Wise Marketer, will share pillars of behavior psychology that tie to customer purchase behavior and match some of the hottest trends today to these principles.
In the movie The Matrix, Morpheus asked Neo a timeless question, whether to take the red pill or the blue pill. Taking the blue pill meant remaining in the status quo while taking the red pill meant boundaries to achieve new discoveries. Join our panel of experts on June 21 to find out how taking the Red or Blue pill leads to Creating Moments of Magic in Retail. More information and registration are available here.
Federal Reserve announces July launch for the FedNow Service
The Federal Reserve Banks are developing the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions. Businesses and individuals will be able to send and receive instant payments at any time of day, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve's FedLine® network, which serves more than 10,000 financial institutions directly or through their agents. For more information, visit FedNowExplorer.org.
Loyalty Academy™ announces new CLMP™ certification workshop in Bangalore India
The Loyalty Academy is bringing its unique program guided by independent governance and oversight to Bangalore India 5-7 July 2023. Bill Hanifin will join Brian Almeida of Strategic Caravan to lead this workshop. You can count on a lively slate of interactive exercises, discussion, and networking as only the Loyalty Academy can deliver. Remember there is only one professional certification for Loyalty Marketers in the world and that is the Certified Loyalty Marketing Professional™ offered by The Loyalty Academy™. Check out the agenda and register here.
Hot Highlights
- Apple may create the first US super app
- Location-Based Services (LBS) Market Worth $239.7 Billion by 2029
- This Business Research Company research report (paid for full access) forecasts the Mobile Wallet market size to grow at a compound annual growth rate (CAGR) of more than 29% to $1,605.7 billion in 2023.
- Google shared more details about its Privacy Sandbox initiative and plans to deprecate third-party cookies in Chrome
- ACI Worldwide estimates that, by 2027, Real Time Payments (RTP) will account for 27.8% of electronic transactions globally, though less than 10% of U.S. banks are expected to support RTP by the end of 2023. According to FIS’ 2023 Global Payments Report, wallets accounted for nearly half (49%) of e-commerce transactions in 2022.
- Fetch App appoints new executives to leadership team
- Shipt, the retail technology company that connects customers to reliable, high-quality delivery with a personal touch, announced they are investing in their customers by launching a robust set of value-added member perks