Bloomingdale's is engaging in a new program that encourages customer satisfaction and loyalty with no strings attached. The luxury department store chain is replacing its old credit-card loyalty program with a new rewards-based system.
The new Loyallist card gives consumers all of the perks of points and promotional discounts without having to open a line of credit with the store or spend a certain amount to earn rewards. Instead, customer begin collecting points for every dollar they spend as soon as they use the card. Rewards points can be redeemed on any merchandise in the store or online with the exclusion of gift cards.
By adopting a multi-tender loyalty program, Bloomingdale's is addressing the needs of those customers who prefer payment methods outside of credit cards. This new system has a few main takeaway values for retailers - value equation, engagement and tiered perks, reports Retail Customer Experience.
The retail store has recognized the value of collecting customer information and providing better service in return, it encourages greater participation because customers don't have to sign up for a credit card and it offers perks based on customer spending for more dedicated shoppers, explains the source.