Reasor's, Tulsa-Based QuikTrip, Join Forces for Joint Retail Program
Tuttle, D Ray, THE JOURNAL RECORD
A collaborative effort between Reasor's and QuikTrip, designed to reward loyal Reasor's customers with fuel savings at Oklahoma QuikTrip sites, will work if the companies are successful giving target customers something they value while increasing sales, a university economist said.
James Kenderdine, professor emeritus of marketing and supply chain management at the University of Oklahoma Price College of Business, said that Reasor's wants to create an advantage for families to shop at its stores, even if the prices may be a bit above a competitor's.
"It looks as if this partnership has the potential to be successful," Kenderdine said. "If I understand it, Reasor's customers will be able to buy gas below market price if they participate; QuikTrip has the potential to pick up new customers (and sales volume) and customers have an incentive to concentrate more of their grocery purchases at Reasor's, possibly at the expense of Wal-Mart and Target."
Tulsa-based QuikTrip Corp. and Tahlequah-based Reasor's announced the joint retail program during a news conference at the Jenks Reasor's store Tuesday.
The program, called Reasor's Rewards, is designed to allow shoppers to save on fuel at any Oklahoma QuikTrip or Lil' Reasor's fuel center, said Jeff Reasor, Reasor's chairman and CEO. Customers will be able to sign up for a free Reasor's Rewards Card, he said.
The more points customers collect, the more they save on gas, Kenderdine said.
"Homeland has been doing something like this in our market, but only at the stores that also sell gasoline, and to get the lower price you have to save the coupons that print out when you shop," he said. "And there is a minimum purchase amount to trigger the coupons."
All totaled, Reasor said, customers could save up to $3 million on fuel in the first year alone.
"We've offered our Advantage Card as a test for several years at our Catoosa and 15th and Lewis (Tulsa) locations, allowing customers to earn points to save at the pump," he said. "With QuikTrip, we are able to offer the opportunity to save on fuel to every single Reasor's customer."
Reasor said the grocery store chain has 250,000 customers per week. Once the card has been activated, all the customer needs to do is start shopping. Customers collect five points for every $50 spent in qualifying purchases. …