Magazine article Marketing

Nectar to Rethink Rewards Strategy

Magazine article Marketing

Nectar to Rethink Rewards Strategy

Article excerpt

Nectar, the UK's biggest loyalty scheme, is to transform itself into a credit card-style programme amid concerns that many of its members are only swapping their points for money off at Sainsbury's.

The shift in strategy, which comes less than a year after launch, sees Nectar's owner Loyalty Management UK (LMUK), invest in a system called Electronic Redemption (ER). It will ultimately allow consumers to swipe their cards to purchase items such as Big Macs and Odeon cinema tickets.

Marketing has also learned that Nectar sponsors Debenhams and Thresher are keen to join the scheme's portfolio of redemption partners.

Debenhams admitted this week that many customers have asked why they are unable to redeem Nectar points with the department store chain, while Thresher is understood to be plotting the launch of a wine club and hopes to offer products in return for Nectar points. LMUK has an existing rewards deal with wine supplier Laithwaite's, and it is not clear when this expires. …

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