First-ever mall-wide rewards program launched
Starwood Retail Partners, which owns several malls, has partnered with a loyalty network to launch "Oh, So Simple Rewards," described as "a first-of-its-kind rewards program that offers consumers easy to earn credit for their purchases at stores across the entire mall."
The program, developed with Spring Network, enables members to earn $10 back on every $250 they spend at their local one-stop shopping center, regardless of the payment method they choose.
Shoppers sign up for Oh, So Simple Rewards at mall kiosks or at ShoppingChicagoRidgeMall.com/Rewards. The process links an existing Visa, MasterCard or personal American Express credit or debit card to an Oh, So Simple Rewards account. Members can connect as many of their cards to the account as they wish.
Members then automatically earn credit for purchases made across the entire mall and receive real time notifications for cash back rewards. When spending reaches $250, a $10 credit is registered to the member’s rewards account. Members can use their earned cash value at whatever retailer they choose.
Members must provide an e-mail address and can also opt to share a phone number to receive exclusive offers. The information will be used for account notifications and marketing messages, though members can opt out of receiving some of these communications.
For retailers, using real-time spending data will enable stores "to engage high intent shoppers while they are in the mall and structure incentives by spend amount, time frame or specific location." Redemption of rewards is said to be automatically administered by the platform with no operational burden, change at the point of sale, or involvement by the retailer staff.
"This robust, efficient and easy to use platform delivers a performance-based solution to retailers that they can use with no risk," said Laurie Paquette, director of asset management.
The program debuted on September 2 at Starwood’s Chicago Ridge Mall in Chicago Ridge, IL. The Oh, So Simple Rewards program is set to roll out in three additional markets this year and all 29 Starwood properties during 2016, reaching approximately 3,000 retailer locations, more than 100 million annual consumer visits, and $15 billion in consumer spending.
What do you see as the pros and cons of Oh, So Simple Rewards for shoppers and stores? How much consumer appeal do you see in mall-based loyalty programs?