Loyalty NewsWire

Loyalty Newswire – October 19th, 2020

Photo by Razlan Hanafiah on Unsplash

Happy Monday! As we head into the holiday season there will be plenty of news, but don’t worry, we’ll keep you informed along the way! Subscribe to our newsletter to have content delivered directly to your inbox.

LOYALTY PROGRAM NEWS:

Walgreens to Relaunch Loyalty Program as Part of Technology Transformation

Quotable: “Walgreens said it will relaunch its customer loyalty program as myWalgreens in November, as part of its mass personalization efforts. Walgreens’ mass personalization program boosted Walgreens retail sales by 140 basis points in its fourth quarter 2020, a significant increase from the 95 basis points impact in the last quarter. Walgreens.com sales grew 39% in the quarter.”

Fashion Loyalty Programs: A Comprehensive Guide (2020)

Quotable: “’The best way to retain buyers in the fashion industry is to focus on the most valuable customers rather than chasing new ones. You’ll need a data-driven focus with personalization of service, channel, fashion, and reward. Avoid all price wars. The loyalty program provides the framework for the retention effort. It must be multi-channel, multi-tender – something that many fashion retailers have been unwilling to do in the past. Segment the loyalty database and differentiate the reward offering and all soft benefits according to a segment.’”

Quotable: “Metrolink has launched a new loyalty program, SoCal Explorer, that rewards riders with points and exclusive offers and perks from local businesses and attractions throughout the southern California region. The program makes it more affordable for people to make taking the train a part of their everyday lifestyle. The SoCal Explorer program was designed to reward all Metrolink riders, whether they take the train to commute to work or ride on the weekend for some fun with friends and family.”

RETAIL NEWS:

The next economic crisis: Empty retail space

Quotable: “Commercial real estate is in trouble, and turbulence in the $15 trillion market is threatening to bleed over into the broader financial system just as the U.S. struggles to emerge from a recession. The longer the pandemic paralyzes hotels, retailers and office buildings, the more difficult it is for property owners to meet their mortgage payments — raising the specter of widespread downgrades, defaults and eventual foreclosures. As companies like J.C. Penney, Neiman Marcus and Pier 1 file for bankruptcy, retail properties are losing major tenants with no clear plan to replace them, while hotels are running below 50 percent occupancy.”

Amazon And Walmart’s New Checkout Systems And The Big Battle Coming At Retail Point-Of-Sale

Quotable: “Both Walmart and Amazon have made announcements recently about their in-store checkout systems. Walmart is increasing the number of self-checkout and contactless lanes in over 1,000 stores in the next year. Its new Walmart+ subscription allows members to use their own mobile devices in Walmart stores to scan products, pay through their phone and walkout. Amazon has had Amazon Go stores for almost three years where the software sees what you carry out of its stores and charges your account as you exit.”

PAYMENTS NEWS:

Venmo’s new credit card has personalized rewards — it could affect perks across the industry

Quotable: “Venmo’s new credit card, by design, is meant to appeal to a younger demographic than a flashier card like the Chase Sapphire or American Express Gold Card. But the card’s innovations when it comes to credit-card rewards could have a lasting effect across the industry — and the perks cardholders will see in the future, experts say.”

DATA & PRIVACY NEWS:

Instagram Breaks Data Privacy Law in Ireland Over Handling of Children’s Data

Quotable: “If inquiries show that Instagram has breached privacy rules, the social media giant could face a massive fine. The Data Protection Commissioner of Ireland (DPC) is reportedly reviewing Instagram’s treatment of children’s data on its website. Anyone at least 13 years of age can open an Instagram account, although Irish authorities are testing whether Facebook, as the parent company of Instagram, can lawfully process minors’ personal details.”

Media platforms and the delicate push for data privacy

Quotable: “Several major newspapers, including the New York Times, Washington Post and Financial Times, have publicly supported a new “do not track” browser extension developed in response to the California Consumer Privacy Act, which went into effect earlier this year. The technical specification, called the Global Privacy Control, is intended to qualify as a universal opt-out from data sharing or selling under the CCPA. Rather than having to opt out on each individual webpage, which most people don’t do, consumers can enable the extension as a default for every site they visit.”

AIRLINE NEWS:

Airlines Raised $$$-Billions via Frequent Flier Programs. Delta alone Raised $9 billion via SkyMiles as Collateral. How?

Quotable: “Airlines, in their mad scramble to pile up enough cash to survive the ongoing collapse in air passenger travel, have resorted to every imaginable way of raising cash: issuing shares, shanghaiing taxpayers into giving them $25 billion, issuing bonds, borrowing from banks, selling their planes for cash and leasing them back, and what not. The biggest single way of raising cash has become borrowing by pledging their frequent flier programs as collateral. And yes, dear member of a frequent flyer program, you guessed it, that collateral is you.”

American Airlines Upgrades AAdvantage Loyalty Program

Quotable: “American Airlines announced enhancements to its AAdvantage loyalty program to make it easier for travelers to achieve elite status in 2021 and adding a new rewards menu. The 2021 AAdvantage program will allow customers the chance to immediately start earning elite status in 2021, with the airline counting all qualifying flight activity flown in the fourth quarter of 2020 toward next year’s qualifications.”

Read last week’s newswire if you missed it: Loyalty Newswire – October 12th, 2020

The Loyalty Newswire is compiled and edited by the staff at The Wise Marketer.

Loyalty Newswire – October 19th, 2020
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