In case you didn’t hear the big news, there was a shake up for PC Financial this month. CIBC and PC Financial have decided to terminate their relationship. It’s just one more break up to note in the loyalty rewards world!
The nearly two million PC Financial banking customers will have their accounts moved to CIBC’s new banking service called Simplii Financial. These customers can expect the same no-fee daily banking with Simplii, so you’ll still be good with banking costs.
Change often invokes more change, so is it time for Loblaws to merge their two loyalty reward programs: PC Points/PC Plus and Shoppers Optimum? One industry expert seems to think it’s the perfect time to overhaul the two programs and merge them into one: “What it tells me is get ready for a Loblaws-Optimum merger,” said Ken Wong, marketing professor at Queen’s School of Business (source).
I am a member of both the PC Plus and the Shoppers Optimum loyalty programs and I’m not entirely excited, nor closed-minded about the two loyalty reward programs potentially merging into one. I love the idea of earning and redeeming at two different stores, so I can choose to get free groceries or free health, wellness and beauty items. But I also don’t want the points to be devalued like many other programs which have made massive changes to their programs.
There is one change I would make to loyalty reward offers which are based on past purchases. In an ideal world I would like to have the opportunity to customize the offers which are based on past purchases by informing the app how frequently I purchase those items. Presently, I find that I receive these offers too soon after I’ve made a purchase, so I rarely utilize the follow-up offer. This is definitely an area which could use some improvement in my humble opinion.
Where do you stand on this topic? Do you want the two programs to merge or stay the way they are as two different loyalty reward programs?