As Australia approaches the new financial year, numerous retailers are preparing to revamp their loyalty programs, amidst a landscape where the average Australian participates in about ten reward schemes. These changes are significant as businesses strive to attract and retain customers in an increasingly competitive market.
Key adjustments are anticipated post-June 30, including notable shifts from major players like Qantas and Virgin. Qantas Loyalty CEO Andrew Glance has announced that members can accumulate points from David Jones’s 40 stores and online platform. With half of Qantas Frequent Flyers already frequenting David Jones, the integration aims to enhance reward earners’ experiences. However, a downside for travellers is the upcoming increase in points required for classic reward fares, effective August 5, demanding an additional 15 to 20 per cent in points for most reward flights.
In the realm of frequent flyers, Virgin’s Velocity program will introduce a new tier—Platinum Plus—aimed at enhancing member retention. This tier will include perks such as complimentary upgrades to business class, alongside the continuation of partnerships with services like DoorDash.
Meanwhile, some loyalty programs, like Just Shop Rewards, will merge with the MYER loyalty initiative effective August 1, affecting all affiliated stores such as Dotti and Jacqui E. Current members will be able to redeem points until June 30, with new features, including a Spend and Get benefit, set to replace older systems.
Supercheap Auto will also see changes, discontinuing its popular best price credit benefit, which allowed refunds on price drops within 14 days of purchase. This will be replaced by a new credit system granting shoppers $5 for every $100 spent on eligible products starting July 1.
Target will cease its Shop+ App Rewards by July 21, refocusing on its OnePass and Fly Buys programs instead. This change aims to streamline the rewards system while still providing points through collaborations with major retailers like Bunnings and Kmart.
As the loyalty landscape evolves, customers can expect a mix of enhancements and cutbacks across various programs, reflecting the retailers’ ongoing efforts to refine their offerings and engage consumers effectively in the ever-changing market environment.